Investors are opting for a long-term, goal-oriented financial approach to wealth management, and require a good personalized advisory service. The one-size-fits-all approach to wealth building isn’t appropriate for HNWIs looking forward to investing in this ever-evolving financial landscape. A growing preference for independent financial advisors over large banks is noticeable.
High-net-worth individuals (HNWIs) increasingly choose independent financial advisors for their personalized support and deeper client relationships. Beyond their technical skills, these advisors provide a level of trust and attentiveness that institutional firms often lack.
Avestar Capital recognizes this shift and has developed a service that integrates independent advisors within its multi-family office (MFO) framework (more on that later), ensuring clients receive both personalized guidance and the comprehensive resources of a larger financial institution.
Why HNWIs Seek Independent Advisors
The shift towards hiring independent financial advisors in the US is more than just for estate planning, tax management, or insurance planning. While these are valuable services, independent advisors are picked for their customized financial strategies without any constraints.
Some key advantages include:
- Personalized and Goal-Oriented Guidance: Independent advisors are not tied to corporate sales targets or proprietary financial products, allowing them to prioritize their clients’ best interests. Whether the focus is retirement planning, estate management, or investment diversification, they can tailor strategies to align with specific financial goals.
- Stronger Client Relationships: Trust is more easily built with an individual advisor than with a large institution. As Xerxes Soli Mullan, founder of Avestar Capital, states, “Independent advisors are valued not only for their financial expertise but also for their deep, personalized relationships with clients.”
- Expertise in Complex Financial Solutions: Many independent advisors specialize in creating transparent and comprehensive investment strategies. Their approach extends beyond traditional investment management to include estate planning, business succession, intergenerational wealth transfer, and philanthropic giving.
Decision-Making Freedom and Expanded Investment Choices
Decision-making advantage gained with an independent financial advisor is the answer to why HNIs are opting for them. Unlike large institutions and banks that provide restrictive investment choices, advisors offer wide access to financially tailored guidance as per the client’s need.
Shilpa Konduri, President of Avestar Capital, emphasizes, “This model gives investors the freedom to make informed financial decisions while maintaining full control over their assets, with an experienced and unbiased advisor by their side.”
Avestar Capital’s Approach: Independent Financial Advisors Within an MFO Framework
Recognizing the demand for independent financial advisors for high-net-worth individuals, Avestar Capital has created a model that integrates independent advisors within its multi-family office. This approach allows their clients the best of both worlds, a highly sophisticated and overall coverage with traditional multi-family office services and much personal wealth management of independent advisors.
By doing so, Avestar Capital’s independent advisory services ensures that HNWIs can retain decision-making power, benefit from customized financial strategies, and still leverage the advantages of an established multi-family office structure. For those looking to enhance their financial strategies with a more customized and independent approach, working with an independent advisor—especially within a well-structured MFO—can provide greater control, trust, and long-term financial success.