High-net-worth individual

Hi everyone, welcome to a brand new episode of Women of Banking podcast.

I've got Purva with me joining in from Chicago.

Hi Purva, how are you doing?

View Social Security's lifetime, inflation-adjusted monthly disbursements differently as a financial asset, not an income stream.

Social Security may be an ancillary component of a HNW client's retirement income plan, but it can also be an important part of an overall capital allocation strategy for tax planning, cash flow management, and generational wealth transfer.

Financial advisors can model various scenarios and withdrawal strategies as part of a tailored plan that aligns with their clients' needs today and in the future.

Decisions surrounding Social Security may not compromise a HNW client's standard of living today, but may impact their legacy planning strategies.

Below, five wealth management professionals share their approaches when talking to HNW clients about Social Security benefits and how they can be leveraged as a tool in a long-term strategic plan.

Rob Schultz, Wealth Manager and Senior Partner at ArtisanCap.

Joseph Femia, Managing Partner at Seven Bridges Wealth Advisors.

These clients paid into the system for decades and deserve to maximize what they get back.

So, um, it's really kind of been geared to a lot of the, you know, the more higher net worth in- individuals, and they've stuck around for quite a while.

And to see this innovation in that regard when you know that a lot of the clientele is kind of more of a HNW, high net worth individual, uh, that is good to see.

Yeah, I mean, on a, on a, on a fi...

So in all time, let's see.

IMCO's twenty twenty-six edition, titled The Pillars of the New Economy, places energy infrastructure and talent at the center of which states will capture the next wave of investment.

What family capital can do? While many of these conditions depend on public policy, successful family businesses and HNW families are actually in a position to detonate changes that may benefit their own businesses and families and also create value in the state or states where they operate.

They know their local markets, suppliers, and institutions.

They have a long investment horizon, and many of them have already built investment structures capable of allocating capital beyond the operating company.

amount of supply coming down.

One thing I've not heard a huge amount about recently, I don't know whether this is a good reason or not, is HNWI's high net worth individuals or ultra high net worth individuals.

They used to be dominating the headlines left, right and centre because demand for prime and luxury increased.

Is that still there?

It's a private investment company.

It provides portfolio management for HNWIs.

What are those? High net worth individuals, says Olivia.

Defined as people with at least a million pounds in cash in their bank.

Here's the next article in this week's roundup.

Stop chasing UHNW clients.

Build a business they need and you can manage, authored by Emily Blue and April Rudin.

RIA founders moving upmarket need the talent, service model, and referral network to serve ultra-high net worth clients.

Family office has become one of the hottest phrases in wealth management.

Put it on a website, add ultra-high net worth, UHNW, to the marketing materials, and suddenly a firm might sound like it serves the wealthiest families in the world.

But can it deliver? There is a greater challenge than just what your website says.

Serving UHNW clients is more than a claim.

Nearly all of them are coming under increased tax burdens.

Washington can weaken the regime in Beijing and strengthen the democracies by enabling easier transfer of HNW family wealth from China to the United States and our allies.

Already in twenty twenty-five, a record eight hundred and seven billion dollars flowed from China.

This will likely encourage even more capital flight as the tax burden falls on fewer shoulders.

The big picture is a broad increase in taxes on anything the Chinese Communist Party considers old, established and, therefore, vulnerable.

It is the CCP's tried-and-true strategy of hostage capitalism targeting fixed, immovable assets.

In the context of such instability and rising taxes, the United States and other market democracies have an opportunity not only to encourage, but also to court China's HNW individuals to move their assets and families out of the reach of rogue officials and the CCP.

This is consistent with US national security interests.