A new generation, full-service advisory firm.
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The wealth management industry serves two types of people well today:
(1) The first is the ultra-high-net-worth ($50M+), who can get their own dedicated team of professionals at any major institution.
(2) The second group is younger people who are typically early in a simple career with investable assets of <$250K. These individuals can put their investing, accounting, and insurance on autopilot through a number of digital platforms without worry.
What about the people in between? The high-potential earners whose situations are becoming more complex? They don’t get treated nearly as well as those other groups do.
Let’s break it down.
When your net worth goes over a certain threshold because you’re young and in a fast growing career, say around $1 million, your financial situation changes fast. Faster than you can probably handle yourself. Maybe your compensation structure is changing, you have a new corporate structure to pass income through, or you’re considering major life changes like investing in new properties or moving homes. Most people in this category find themselves at the bank, with their accountant, or with an investment advisor, trying to get specific advice on what makes sense for their personal situation and how to optimize for the future.
The issue is, those parties don’t have all the credentials, nor the full team (tax, estate, trust, insurance, investments, etc.), to answer your complex personal questions as your net worth grows, until you hit that ultra-high net worth mark.
Hearing from many of our clients, the branch advisor/investment advisor will give you cookie-cutter advice. Maybe they’ll model a few scenarios for you if they know how. Ultimately it’s up to you to (1) figure out if that actually makes sense, and (2) execute on what they said.
And, to be fair, that is what’s in the bank’s best financial interest. Hiring a full-service team (including an investment advisor, a tax planner, a financial planner, an estate planner, and a trust planner) for every individual worth between $1m-$50m is not feasible. It is just too expensive to offer anyone below that ultra-high net worth mark, since the hourly cost of these specialists is often in the hundreds or thousands.
Full-service is hard, but in our opinion, it’s the right way and the only way to help clients in this category. High-potential individuals have a demanding career ahead of them, don’t have the time to manage every single part of their financial picture, and need an expert team that strategizes and executes for them.
When we decided to start Vijay Wealth Advisory, we decided we want to build our business doing the right thing for our clients - give them everything they need, in-house - because that’s how we’d want it for ourselves.
Here’s what we do for all our clients, not just the highest net-worth ones:
Tax Consulting, Filing, and Strategies
- Ongoing tax consulting to understand how to minimize your liability, and optimize your personal/corporate legal structures
- Tax preparation, filing, and custom strategies using our experienced CPA team and coordination between us and the accountant every tax season - no headache for you
- Integration of your tax, insurance, and investing strategy to maximize post-tax returns
Financial Planning
- Comprehensive net worth modeling to understand your financial decisions
- Proactive guidance on all financial matters so you don't have to think twice - real estate, education, debt management, insurance needs, philanthropy, and estate planning
Investment Management (read our investment philosophy here)
- Holistic portfolio strategy customized for your cash flow milestones and risk tolerance
- Low-cost, tax-conscious, investment methodology and strategic placement of asset classes across accounts to optimize tax efficiency
- Finance coaching to ensure you stick to your investment plan regardless of market turbulence
The professionals we work with usually sound like the following:
- You’re young - anywhere between 35 and 50
- You have a demanding career in healthcare, consulting, or engineering, and juggle time between your work, friends, and family
- You’re on an exponential trajectory in your career
- Your financial picture is becoming complicated and you’re aware that you don’t either have the knowledge, desire, or time to proactively manage it
- You’ve always wanted a sounding board to help you make logical decisions with your money
- You’re keen to learn more about how to invest, manage your money and the money you’ll inherit, and protect it from outside liabilities
If this sounds familiar - Vijay Wealth Advisory was built for you.