High-net-worth wealth management in Milwaukee, WI. Whether you spend your winter vacations on a yacht, take a private plane to Aspen,, or you want to ensure your heirs and favored charities are taken care of after you pass, managing significant wealth comes with unique challenges that demand tailored approaches and expertise. While the advantages of significant wealth are substantial (there's a reason you put in the effort to get it), the additional assets come with their own risks and potential pitfalls. As wealth grows, so does the importance of managing it with care. High-net-worth wealth management focuses on both the growth and preservation of wealth but also aligning financial decisions with personal values and goals. Successful high-net-worth wealth management ensures long-term financial security and legacy building.
At Correct Capital Wealth Management, we partner with high- and ultra-high-net-worth individuals, families, and business owners in Milwaukee, [state to help them meet their long-term financial goals with holistic financial planning services. If you're interested in speaking with one of our Milwaukee, WI financial advisors, you can schedule a meeting with a member of our advisor team, contact us online, or give us a call at 877-930-401(k) to get started.
Still uncertain about working with a financial advisor? Check out our process to see how simple it is to get started, or read our FAQs about our services.
Schedule a Meeting With an Advisor Today
Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
Schedule a 15-Minute Introductory Call
More From Correct Capital Wealth Management
Explore how Correct Capital Wealth Management can help guide you toward smarter decisions, clearer goals, and lasting financial success.
Subscribe To Our Newsletter Listen To Our Podcast Watch Our YouTube Channel
What Is a (Ultra) High Net Work Individual?
A High-Net-Worth Individual (HNWI) refers to someone with a substantial amount of liquid assets, typically defined as at least $1 million in investable assets, excluding their primary residence. Given the intricacies of managing such wealth, Milwaukee, WI financial services firms often use this category to identify clients needing specialized financial management, investment strategies, and estate planning.
There are also Ultra High-Net-Worth Individuals (UHNWIs), who typically have at least $30 million in investable assets. The classification can vary slightly depending on the institution, but UHNWIs are commonly identified as individuals with significant financial resources that require even more sophisticated management strategies.
Typically, these individuals need customized financial advice from Milwaukee, WI fiduciary advisors, such as Correct Capital, to maximize their wealth and its potential benefits for them and their families.
Key Components of High-Net-Worth Wealth Management in Milwaukee, WI
Effectively managing substantial wealth involves navigating a intricate landscape that requires a well-rounded and strategic approach. High-net-worth individuals in Milwaukee, WI have distinct financial needs that go beyond basic investment management, including not just protecting your assets but also ensuring your financial strategy stays aligned with your personal goals.
Listed are important components of high-net-worth wealth management in Milwaukee, WI and why they are essential to preserving and enhancing your wealth:
- Investment Strategies: Spreading investments across traditional assets like stocks and bonds, and alternative investments including private equity, private credit, and real estate. Traditional assets provide security, growth over time, and liquidity, while alternative investments offer opportunities for enhanced returns and demand careful management to mitigate risks.
- Retirement Planning: Creating a well-structured retirement plan is vital for maintaining or enhancing one's lifestyle in later years. High-net-worth individuals should take into account tax-efficient strategies, such as Roth conversions and municipal bonds, and factor in their unique financial circumstances to secure a worry-free and comfortable retirement.
- Tax Planning: Implementing strategies to lower tax liabilities is essential. This can include tax-loss harvesting, increasing deductions, and making use of charitable trusts. Strategic tax planning allows high-net-worth individuals to lower their overall tax burden while adhering to complicated tax regulations.
- Estate Planning: Estate planning enables individuals to ensure their wealth is distributed in line with their intentions while lowering the tax burden on their heirs. Trusts, wills, and charitable giving are key tools for organizing the distribution of assets, advancing philanthropic goals, maintaining family harmony, and establishing a lasting legacy.
- Philanthropy: High-net-worth individuals often engage in meaningful charitable activities. Through donor-advised funds, private foundations, or charitable trusts, structured giving facilitates meaningful impact while providing tax benefits. These vehicles align philanthropic goals with broader wealth management strategies, making sure that charitable giving is deliberate and effective.
- Succession Planning: For high-net-worth business owners, guaranteeing the smooth transition of leadership readies the next generation to take over the business, safeguarding the legacy and securing continued success.
- Holistic Wealth Management: A comprehensive approach to wealth management that aligns financial decisions with personal values, legacy goals, and overall wealth objectives. This ensures that every aspect of wealth is managed in a way that upholds long-term financial health and personal fulfillment.
- Family Governance and Education: Educating family members on financial management is essential to preserving wealth over generations. Equipping heirs with the necessary understanding and resources they need to handle and grow their wealth secures that the family’s financial legacy is protected.
Why Milwaukee, WI High-Net-Worth Individuals Need Specialized Advice
High-net-worth individuals face intricate financial landscapes that necessitate specialized expertise. Their wealth typically includes multiple asset classes, such as traditional and alternative investments, which necessitate strategic management to maximize returns and reduce risks. Moreover, with complex income streams and significant philanthropic goals, these individuals are required to handle a tangle of tax implications and estate planning considerations.
Advisors who specialize in high-net-worth individuals in Milwaukee, WI create tailored strategies that handle these unique needs. Our Milwaukee, WI financial advisors help high-net-worth individuals not only grow their wealth but also ensure it aligns with their long-term goals and values. The risks associated with substantial wealth, such as market volatility and legal challenges, further underscore the need for expert guidance. A specialized advisor provides the knowledge and experience necessary to manage these challenges effectively, safeguarding the client's financial future.
Correct Capital's Approach to High-Net-Worth Wealth Management in Milwaukee, WI
At Correct Capital, we prioritize a personalized, client-first approach to managing the wealth of high-net-worth individuals. We function with a fiduciary duty, meaning every recommendation and decision is made with your best interests in mind. As a Registered Investment Advisor (RIA), we employ cutting-edge tools and provide customized financial plans suited to the unique needs of Milwaukee, WI high-net-worth individuals. From investment strategies and tax planning to estate management and philanthropy, these plans encompass every facet of wealth management.
Correct Capital provides a personalized wealth management experience that integrates financial planning with the unique lifestyle needs of high-net-worth families. We specialize in ensuring that your wealth strategy supports your lifestyle and long-term goals, offering expert guidance on navigating risks, family governance, and aligning your financial resources with your aspirations.
This is how we manage wealth for high-net-worth individuals in Milwaukee, WI:
- Fiduciary Duty and Client-First Approach: Correct Capital commits to that every recommendation and decision is made with your best interests as the sole priority, emphasizing transparency and trust in all financial strategies.
- Customized Financial Plans: We harness cutting-edge technology to craft personalized financial plans that include investment strategies, tax planning, estate management, and philanthropic goals. These plans are designed to meet each client's unique needs, securing their financial future remains protected.
- Boutique Experience: Correct Capital provides a comprehensive boutique experience that helps you manage your financial aspects through an individualized service model. This centralized approach simplifies the complexities of wealth management, guaranteeing that all aspects of a client’s wealth are cohesively managed.
- Collaborative Wealth Management: Correct Capital understands that effective wealth management is a team effort. We partner with your network of professionals, such as attorneys, accountants, and estate planners. As the "quarterback" of the financial team, we guarantee that all aspects of the client's wealth are managed in harmony, in alignment with their overarching financial goals.
This approach not only helps Milwaukee, WI high-net-worth clients grow and preserve their wealth, but also makes sure that their financial strategies align with their personal values and long-term vision.
Call Correct Capital for High-Net-Worth Wealth Management in Milwaukee, WI Today
Handling substantial wealth is intricate and involves many layers, requiring expert guidance and a personalized approach. High-net-worth individuals in Milwaukee, WI encounter unique challenges that require a wealth management firm with experience, comprehensive services, and a dedication to acting in their best interests. Correct Capital provides tailored strategies, a collaborative approach, and a fiduciary commitment to our clients. By choosing wealth management partner, you can make sure that your financial goals are met and aligned with your values and vision for the future.
If you're looking for high-net-worth wealth management in Milwaukee, WI, schedule a meeting with a member of our advisor team, contact us online, or give us a call at 877-930-401(k) today.
