Choosing an Advisor
Zoe Team
7 min read
High net worth individuals face complex financial, tax, and estate planning needs.
Advisors provide specialized strategies for wealth preservation and tax-efficient growth.
Professional oversight helps manage sophisticated portfolios and generational wealth transfers.
They require specialized strategies for complex tax, estate, and financial planning that go beyond standard investment management.
They help navigate sophisticated financial needs, optimize tax strategies, and ensure efficient generational wealth preservation.
Common needs include estate planning, tax optimization, risk management, and handling intricate, multi-layered financial portfolios.
High net worth individuals and families have complex financial needs. Learn how a qualified high net worth financial advisor can take the worries out of managing your wealth.
Let’s face it: wealth comes with significant perks. You can own the home of your dreams in the location of your choice. You can provide the best for your children. Plus, you never have to worry about the constraints of a budget. With wealth comes greater financial complexity. From investment and tax optimization to establishing trusts and formalizing succession plans, a high level of knowledge and experience is required in financial planning for high net worth individuals.
That’s why most wealthy individuals and families partner with a qualified high net worth financial advisor to help steer the ship.
Those with more means get access to perks and personalized attention. It’s no different in the investment world. The more you have to invest, the more “high touch” services become available to you via a financial advisor. This ranges from customized and personalized investment portfolios, coordination with lawyers, property managers, and philanthropy director for instance.
If you have at least $1 million or more in investable assets, you also become eligible to invest in hedge funds, private equity funds, real estate investment trusts, and other alternative investments. These funds, which usually don’t offer the same level of investor protection as mutual funds, are designed to either deliver returns that beat the market as a whole or provide protection against losses in down markets. We must warn here, that it is extremely difficult to beat the market and equally difficult to identify investors that do on a consistent basis. So be wary of practices that offer access to alternative investments as their main value proposition.
In addition, while most investors only get access to professional money management expertise through mutual funds, high net worth investors can take advantage of separately managed accounts, which are customized portfolios of securities and funds that are often personally managed by the same investment experts who manage mutual funds.
Taxes are among the main drawbacks to wealth. We have found that taxes are an area where advisors can provide significant value. For instance, most retirement savings options are designed to prevent those with higher incomes from fully benefiting from these plans’ tax-reducing benefits. For example, while you can participate in your company’s 401(k) plan, your own maximum contributions in 2019 can’t exceed $19,000 (if you’re over 50, you can contribute an additional $6,000 in “catch up” contributions).
Your ability to open and contribute to IRAs may be limited. For example, if you’re married and you and your spouse’s combined adjusted gross income is $199,000 or more, you can’t open or contribute to a Roth IRA. Likewise, if your combined income is $121,000 or more you won’t be able to make tax-deductible contributions to a Traditional IRA, although you can contribute on an after-tax (non-deductible) basis. For this reason, the affluent often create trusts or foundations in order to maximize their impact with their wealth in a tax-efficient matter.
Most affluent people don’t have the time or desire to figure out complex investment issues on their own. That’s why so many hire professionals such as investment advisers to manage their wealth.
Investment advisors value wealthy clients the most and try to woo them by offering them comprehensive financial planning, investments, tax, and estate services and access to alternative investments. In some cases, advisors truly become the clients’ Household CFO by managing their monthly cash flow, liquidity needs and coordinating with lenders to find the best possible rates.
Those with higher incomes often face unique situations that could result in unfavorable tax consequences.
For example, if you work for a corporation you may receive company stock or stock options that, when exercised, could subject you to significant capital gains. The same risk can occur if you’re scheduled to receive deferred compensation in the form of highly appreciated company stock when you retire. Or, if you’re planning on selling your company or partnership stake in a professional services firm.
If any of these situations are handled incorrectly, the gains they generate could elevate you into a higher tax bracket, leaving you with far less of a financial reward than you expected. That’s where a financial advisor, working closely with your CPA or estate planning attorney, can help. They can find ways to reduce capital gains in your investment portfolio, exercise and sell stock options in a tax-efficient manner, and transfer highly appreciated securities (such as company stock) into vehicles such as a trust, where they can be sold without subjecting you to capital gains taxes.
It’s a fact of life: The wealthy are far more vulnerable to nuisance lawsuits than those with lower incomes. A person who slips on your sidewalk files a multi-million dollar personal injury lawsuit. A dissatisfied customer or terminated employee sues both you and your company.
Liability insurance might provide some protection, but a particularly vicious litigant may try to go after your personal wealth.
If you believe that your net worth could be at risk, a financial advisor can recommend strategies for shielding these assets from both plaintiffs and creditors, such as placing investment assets into a trust. The advisors will work with a trust attorney to establish a trust and facilitate the transfer. This team can also help you develop an estate plan that can ensure that your assets are passed on your heirs in an efficient manner.
Of course, not all people with high annual incomes are wealthy-yet. Many young people, particularly attorneys, physicians, and those in the biotech, engineering and finance fields, start their careers earning six-figure salaries.
Some of these future high-net-worthers are either not particularly adept at managing their own finances nor have the time to do so. They’re often burdened with a boatload of debt, including student loans and have to calibrate between paying down debt and savings for future goals, like buying a home.
A financial advisor can help these young high-earners develop a plan for managing inflows and outflows, putting money aside to save for retirement, a new home, or their children’s higher education, and choosing appropriate life and home insurance options to provide financial security for their loved ones.
Many wealthy people work with advisors recommended by their friends, coworkers, and members of their professional network. But getting a name is not enough. Any financial professional can say that they provide high net worth financial services, including bankers, accountants, and insurance salespeople. While technically these claims may be accurate considering it only takes passing the Series 66 exam (one week study time) to call oneself a financial advisor, there is a world of difference between someone who passed an easy exam and an experienced financial planning professional who possesses the skills, training, and experience needed to manage the complex financial needs of the wealthy. Your financial situation is incredibly unique, and having a trusted advisor who you can count to manage your money with your best interest in mind is rare.
That’s why it’s important to thoroughly investigate the credentials of any advisor you’re considering. At the very least, any advisor you’re considering should be certified as a CFP® professional by the Certified Financial Planner Board of Standards (CFP Board) or be a Chartered Financial Analyst (CFA). These financial planning professionals earn their certifications by being experienced financial professionals who have passed a rigorous financial planning examination and agree to uphold the highest standards of integrity, accountability, and client service. Alternatively, our own advisor search feature offers a quick way to find fee-only financial planners who have passed our rigorous screening process and who specialize in working with high net worth individuals and families.
High net worth individuals and families have complex financial needs. Learn how a qualified high net worth financial advisor can take the worries out of managing your wealth.
Let’s face it: wealth comes with significant perks. You can own the home of your dreams in the location of your choice. You can provide the best for your children. Plus, you never have to worry about the constraints of a budget. With wealth comes greater financial complexity. From investment and tax optimization to establishing trusts and formalizing succession plans, a high level of knowledge and experience is required in financial planning for high net worth individuals.
That’s why most wealthy individuals and families partner with a qualified high net worth financial advisor to help steer the ship.
Those with more means get access to perks and personalized attention. It’s no different in the investment world. The more you have to invest, the more “high touch” services become available to you via a financial advisor. This ranges from customized and personalized investment portfolios, coordination with lawyers, property managers, and philanthropy director for instance.
If you have at least $1 million or more in investable assets, you also become eligible to invest in hedge funds, private equity funds, real estate investment trusts, and other alternative investments. These funds, which usually don’t offer the same level of investor protection as mutual funds, are designed to either deliver returns that beat the market as a whole or provide protection against losses in down markets. We must warn here, that it is extremely difficult to beat the market and equally difficult to identify investors that do on a consistent basis. So be wary of practices that offer access to alternative investments as their main value proposition.
In addition, while most investors only get access to professional money management expertise through mutual funds, high net worth investors can take advantage of separately managed accounts, which are customized portfolios of securities and funds that are often personally managed by the same investment experts who manage mutual funds.
Taxes are among the main drawbacks to wealth. We have found that taxes are an area where advisors can provide significant value. For instance, most retirement savings options are designed to prevent those with higher incomes from fully benefiting from these plans’ tax-reducing benefits. For example, while you can participate in your company’s 401(k) plan, your own maximum contributions in 2019 can’t exceed $19,000 (if you’re over 50, you can contribute an additional $6,000 in “catch up” contributions).
Your ability to open and contribute to IRAs may be limited. For example, if you’re married and you and your spouse’s combined adjusted gross income is $199,000 or more, you can’t open or contribute to a Roth IRA. Likewise, if your combined income is $121,000 or more you won’t be able to make tax-deductible contributions to a Traditional IRA, although you can contribute on an after-tax (non-deductible) basis. For this reason, the affluent often create trusts or foundations in order to maximize their impact with their wealth in a tax-efficient matter.
Most affluent people don’t have the time or desire to figure out complex investment issues on their own. That’s why so many hire professionals such as investment advisers to manage their wealth.
Investment advisors value wealthy clients the most and try to woo them by offering them comprehensive financial planning, investments, tax, and estate services and access to alternative investments. In some cases, advisors truly become the clients’ Household CFO by managing their monthly cash flow, liquidity needs and coordinating with lenders to find the best possible rates.
Those with higher incomes often face unique situations that could result in unfavorable tax consequences.
For example, if you work for a corporation you may receive company stock or stock options that, when exercised, could subject you to significant capital gains. The same risk can occur if you’re scheduled to receive deferred compensation in the form of highly appreciated company stock when you retire. Or, if you’re planning on selling your company or partnership stake in a professional services firm.
If any of these situations are handled incorrectly, the gains they generate could elevate you into a higher tax bracket, leaving you with far less of a financial reward than you expected. That’s where a financial advisor, working closely with your CPA or estate planning attorney, can help. They can find ways to reduce capital gains in your investment portfolio, exercise and sell stock options in a tax-efficient manner, and transfer highly appreciated securities (such as company stock) into vehicles such as a trust, where they can be sold without subjecting you to capital gains taxes.
It’s a fact of life: The wealthy are far more vulnerable to nuisance lawsuits than those with lower incomes. A person who slips on your sidewalk files a multi-million dollar personal injury lawsuit. A dissatisfied customer or terminated employee sues both you and your company.
Liability insurance might provide some protection, but a particularly vicious litigant may try to go after your personal wealth.
If you believe that your net worth could be at risk, a financial advisor can recommend strategies for shielding these assets from both plaintiffs and creditors, such as placing investment assets into a trust. The advisors will work with a trust attorney to establish a trust and facilitate the transfer. This team can also help you develop an estate plan that can ensure that your assets are passed on your heirs in an efficient manner.
Of course, not all people with high annual incomes are wealthy-yet. Many young people, particularly attorneys, physicians, and those in the biotech, engineering and finance fields, start their careers earning six-figure salaries.
Some of these future high-net-worthers are either not particularly adept at managing their own finances nor have the time to do so. They’re often burdened with a boatload of debt, including student loans and have to calibrate between paying down debt and savings for future goals, like buying a home.
A financial advisor can help these young high-earners develop a plan for managing inflows and outflows, putting money aside to save for retirement, a new home, or their children’s higher education, and choosing appropriate life and home insurance options to provide financial security for their loved ones.
Many wealthy people work with advisors recommended by their friends, coworkers, and members of their professional network. But getting a name is not enough. Any financial professional can say that they provide high net worth financial services, including bankers, accountants, and insurance salespeople. While technically these claims may be accurate considering it only takes passing the Series 66 exam (one week study time) to call oneself a financial advisor, there is a world of difference between someone who passed an easy exam and an experienced financial planning professional who possesses the skills, training, and experience needed to manage the complex financial needs of the wealthy. Your financial situation is incredibly unique, and having a trusted advisor who you can count to manage your money with your best interest in mind is rare.
That’s why it’s important to thoroughly investigate the credentials of any advisor you’re considering. At the very least, any advisor you’re considering should be certified as a CFP® professional by the Certified Financial Planner Board of Standards (CFP Board) or be a Chartered Financial Analyst (CFA). These financial planning professionals earn their certifications by being experienced financial professionals who have passed a rigorous financial planning examination and agree to uphold the highest standards of integrity, accountability, and client service. Alternatively, our own advisor search feature offers a quick way to find fee-only financial planners who have passed our rigorous screening process and who specialize in working with high net worth individuals and families.
Disclosures: Zoe Financial, Inc. ("Zoe Financial") is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Zoe Financial provides investment advisory services and access to independent registered investment advisers through its platform. The information provided by Zoe Financial is for educational and informational purposes only and should not be construed as personalized investment advice or as an offer to buy or sell any security. All investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Clients should consult with their own financial, tax, or legal professionals before making any investment decisions. The material presented by Zoe Financial is for informational purposes only and is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Material presented has been gathered from sources believed to be reliable, however Adviser cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source. Past performance is no guarantee of future results. Zoe Financial does not provide legal or tax advice, and nothing contained in these materials should be taken as legal or tax advice. SEC Registration does not constitute an endorsement of Zoe Financial by the SEC nor does it indicate that Zoe Financial has attained a particular level of skill or ability. The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment or service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum, and make a determination based upon their own particular circumstances, that the investment is consistent with their investment objectives and risk tolerance. Lower expenses do not guarantee better investment performance. Certain information contained herein may constitute forward-looking statements. Due to various risks and uncertainties, actual events, results or the performance of a fund may differ materially from those reflected or contemplated in such forward-looking statements.
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2026 Zoe Financial, Inc. | All rights reserved
Find an Advisor
Retirement Planning
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2026 Zoe Financial, Inc. | All rights reserved
Find an Advisor
Retirement Planning
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2025 Zoe Financial, Inc. | All rights reserved
