There are a few financial behaviors that everyone participates in. They include budgeting, saving, investing, spending and overseeing their individual financial assets. However, there are professionals who provide financial oversight to some of the country’s wealthiest individuals and families. Financial managers, money managing firms and institutional brokers provide oversight to individuals who usually have at least $100,000 in assets about the best way to invest their assets to see a positive gain. In essence, the financial advice that these companies and people offer leads to improved financial standings for their clients. While there are many money management services available, the most common that are offered included passively-managed mutual funds (where a client pays a fee for their money to be invested into a larger fund that shows a minimum gain based on a fixed interest rate) to in-depth estate planning and consulting (oversight on the process and arrangements around the disposal of an estate).
Bank of New York (BNY) Mellon, an investment firm based in New York, New York, is a global investment company dedicated to helping its clients manage and service their financial assets throughout the investment life cycle. This company provides its clients with informed investment management services. Currently, the company oversees and handles over $20 trillion in assets, with more than $1 trillion in active stock and trading markets. The company also serves as a single point to create, trade, hold, manage, service, distribute or restructure personal and corporate investments.
Another investment firm with headquarters in New York, New York, Bessemer Trust seeks to work with clients in developing an integrated long-term plan to build personal wealth. Their services assist individuals with limited experience in financial planning in estate planning, tax planning, philanthropic advisory services, insurance advisory services and real estate planning. They manage over $60 billion assets with over $30 million assets actively being invested. Their aim is to provide their clients with the maximum benefit of their wealth.
Wilmington Trust (M&T Bank) is an investment firm based in Wilmington, Delaware and has provided financial oversight to wealthy individuals since 1903. They seek to use their knowledge and resources to offer high caliber services to their clients. As one of the largest financial managing firms in the U.S., they offer tax planning, wealth transfer strategies, investment managing, private banking and family governance services. To date, they are one of the most financially sound and successful companies in the history of the United States.
Although money management may seem like something you can do on your own, it’s usually in your best interest to work with a professional. Some firms, like Allen & Company specialize in high-net-worth individuals, while others, like Wells Fargo might serve a broader range of clients. You should do some research to find which firm might be best for you. Advice from money management firms and personal brokers offer the experience of highly trained investment strategists the opportunity to maximize your money to its fullest potential.