In Australia, there isn’t a fixed threshold that is universally recognised, but high net worth individuals are generally defined as individuals with investable assets that exceed $1 million, excluding the value of their primary residence.
Some financial advisers may also categorise high net worth individuals into different tiers based on their wealth, such as “ultra high net worth clients” who have significantly larger assets, often in the tens of millions or more.
One thing that is important to note, however, is that the definition of a high net worth individual can evolve over time due to factors such as economic fluctuations, changes in asset value, and adjustments in financial regulations. This is one of the many reasons why working with financial advisers is so important for high net worth individuals, as you’ll have access to personalised guidance and advice based on your specific needs and goals.
Understanding the unique needs and aspirations of high net worth clients is at the core of our approach to wealth management, and by forging strong relationships and delving deep into both your personal and financial objectives, we’re able to create bespoke strategies that offer you peace of mind and keep your best interests at heart.
At the start of the process, we’ll have a detailed discussion with you in order to understand your financial objectives fully. Whether you’re looking to secure a comfortable retirement, fund education for future generations, or have philanthropic endeavours in mind, we’ll look at your goals and talk about potential strategies to help you achieve them.
Enquire NowWe’ll then develop a customised roadmap that is tailored to your unique position as a high net worth client. This will involve analysing your existing assets, risk tolerance, tax considerations, and estate planning needs. All of this comes together to create a robust financial strategy that optimises wealth preservation and growth.
Enquire NowNow your plan is in place, we’ll execute it meticulously, leveraging a diverse range of investment vehicles, tax planning, and asset allocation techniques. We’ll also stay vigilant at all times and adapt to market dynamics to capitalise on investment opportunities and ensure you generate sustainable wealth over time.
Enquire NowWe know that wealth & investment management isn’t a one-time thing; it requires ongoing portfolio review to ensure alignment with evolving goals, market conditions, and regulatory changes. Through proactive monitoring and periodic adjustments, we’ll make sure your portfolio’s performance is optimised, and any risk is mitigated, helping to secure your financial position into the future.
Enquire NowHigh net worth individuals face a unique set of challenges stemming from the complexities of managing substantial wealth, and while their financial success opens up multiple opportunities, it also brings intricate issues to the table that require specialised expertise to navigate effectively.
Here are some of the most common challenges faced by high net worth investors and how working with a financial adviser can provide valuable assistance.
High net worth individuals often have diverse investment portfolios, multiple income streams, and intricate estate planning requirements. A financial adviser can offer holistic wealth management solutions tailored to specific needs, including asset allocation, tax optimisation, and succession planning, making everything much more manageable.
With significant assets at stake, high net worth investors are exposed to various risks, including market volatility, legal liabilities, and unforeseen events. Financial advisers employ sophisticated risk management techniques, such as diversification, insurance strategies, and asset protection trusts, to safeguard and preserve capital.
Complex tax regulations and changing legislative landscapes can also have a significant impact on the tax liabilities of high net worth individuals. Financial advisers work closely with tax specialists to develop comprehensive tax planning strategies aimed at minimising tax exposure, maximising deductions, and optimising investment structures.
Maintaining a desired lifestyle while preserving wealth for future generations is another issue many high net worth individuals face, and it requires careful planning and foresight. A financial adviser can help with this by establishing sustainable spending rates and creating effective retirement income strategies.
Family dynamics, differing financial priorities, and intergenerational wealth transfer can also pose significant challenges for a high net worth individual. By facilitating open communication between families and implementing tailored strategies that address concerns related to inheritance and more, a financial adviser can help foster harmony and stewardship across generations.
Principal / Financial Adviser
Masters of Financial Planning
Bachelor of Commerce
CFP®
P (07) 3106 3114 | F (07) 3106 3100
scottq@solacefinancial.com.au
www.solacefinancial.com.au
Principal / Financial Adviser
Bachelor of Commerce
CFP®
P (07) 3106 3113 | F (07) 3106 3100
M 0418 155175
stephenh@solacefinancial.com.au
www.solacefinancial.com.au
Principal / Financial Adviser
Masters of Financial Planning
AFP®
P (07) 3106 3112 | F (07) 3106 3100
giles@solacefinancial.com.au
www.solacefinancial.com.au
Discover more about Giles
Financial Planner
Certified Financial Planner – CFP®
Master of Financial Planning – MFP
Chartered Tax Adviser – CTA
P (07) 3106 3106 | F (07) 3106 3100
joelc@solacefinancial.com.au
www.solacefinancial.com.au
Discover more about Joel
Working with a financial adviser as a high net worth individual offers numerous benefits. Firstly, it provides you with access to personalised expertise that is tailored to your complex financial needs, and you’ll be offered guidance and support that will maximise your investment opportunities and mitigate risk.
You’ll also be assured of long-term financial stability and growth, as a financial adviser will look at addressing things such as retirement planning, estate management, and philanthropic endeavours.
This planning and expertise also offers you a great deal of peace of mind, as you won’t have to personally worry about navigating intricate financial landscapes or adapting to change. Instead, everything is handled for you and you can relax safely with the knowledge that you’ll be able to achieve your financial future with confidence.
Are you ready to take the next step on your financial journey as a high net worth individual? Contact us today to book a consultation or fill in our financial analysis form, and you’ll be one step closer to growing and protecting your legacy.
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