HCR Wealth Advisors Specializes in Helping High-Net-Worth Individuals

August 21, 2018

HCR Wealth Advisors is a registered investment advisory firm specializing in servicing high-net-worth individuals. Unlike money management firms, the professionals at HCR Wealth Advisors are wealth advisors, meaning that they establish a relationship with the client through education and create personalized financial strategies. Wealth managers such as HCR Wealth Advisors earn a fee based on their advisory services. Money managers, in contrast, simply invest funds and are compensated based on performance.

 

The advantage of hiring a wealth advisor is that the client’s money is not simply invested in a fund. Rather, HCR Wealth Advisors develops a strategy with the client’s specific goals in mind. The company has a 7-step plan for devising a client’s personalized financial strategy.

 

HCR Wealth Advisors’ first step is to identify the client’s current financial situation and establish his or her goals. This is balanced against the client’s current and future needs in the second step. In the third step, HCR Wealth Advisors and the client work together to determine which investments are most appropriate.

 

HCR Wealth Advisors’ fourth step is to give the client access to their own online account that allows them to keep track of their investments around-the-clock. A client’s needs may change, however, and so the fifth step involves evaluating the client’s investments on a regular basis.

 

Finally, in the sixth step and seventh steps, HCR Wealth Advisors monitors the client’s progress and makes adjustments where necessary. This type of individualized service is best suited to high-net worth individuals seeking a team-based approach. In addition to traditional investments, such as fixed-income and equity investments, HCR Wealth Advisors advises clients on alternative investments, such as private securities.

 

HCR Wealth Advisors is not affiliated with this website.

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