Pillar Wealth Management (PWM) is a fee-only private wealth management firm based in Walnut Creek, California. The financial advisor exclusively serves individuals and high-net-worth individuals, providing portfolio management and financial planning.
The firm’s co-founders Haitham E. Ashoo and Christopher G. Snyder are the authors of an e-book called “The Ultimate Guide to Choosing the Best Financial Advisor for Investors from $3 to $70 Million in Liquid Assets.” They have also published the following books and whitepapers: Exiting Strategies: The CEO’s Seven Critical Steps To Cashing-Out of A Business, Managing and Preserving Wealth; Beyond Wealth: Finding The Balance Between Wealth and Happiness; and Intelligent Investing: Making Smart Investing Decisions In Today’s Volatile Market.
Pillar Wealth Management Background
Owned by Ashoo and Snyder, PWM has been in business since 2008. Ashoo and Snyder are the firm’s only advisors and offer more than 60 years of wealth management experience combined, according to the firm’s website.
Pillar Wealth Management Client Types and Minimum Account Sizes
PWM only serves individuals and high-net-worth individuals. The firm has a minimum account size requirement of $5 million and an annual minimum fee requirement of $15,000.
If you cannot meet these minimum requirements to work with PWM, consider using SmartAsset's free tool to find a financial advisor in your area that meets your needs.
Services Offered by Pillar Wealth Management
PWM clients have access to the following advisory services:
- Portfolio management
- Investment strategy
- Asset selection
- Regular portfolio monitoring
- Asset allocation
- Risk tolerance
- Financial planning
- Investment planning
- Life insurance
- Retirement planning
- Real estate
- College planning
- Debt/credit planning
- Business planning
- Retirement planning
Pillar Wealth Management Investment Philosophy
PWM's investment approach is built on several principals. First, the firm strives to assist clients in achieving their life goals. Next, Pillar bases its investing philosophy on providing low turnover, tax efficient and diversified institutional-style investments. Portfolios are customized to meet the indidivual needs of clients. Portfolios are also allocated and rebalanced with special attention paid to costs, tax ramifications and asset protection. Lastly, the firm believes that market timing and stock selection are "failed investment strategies," according to Pillar's website.
PWM’s securities analysis methods include charting, cyclical and fundamental analysis. The firm’s investment strategies consist of long- and short-term trading and margin transactions.
The firm says it offers advice and/or money management to mutual funds, equities, bonds, fixed income, debt securities, exchange-traded funds (ETFs), real estate, hedge funds, third-party money managers, real estate investment trusts (REITs), insurance products, private placements and government securities.
Fees Under Pillar Wealth Management
Negotiated fees between Pillar Wealth Management and the client will supersede Pillar Wealth Management’s existing fee structure.
PWM’s investment advisory fees range from 0.27% to 1.06% of AUM with an annual minimum fee of $15,000. Here's a range of advisory fees that you may pay based on the size of your account:
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Pillar Wealth Management*|
|Your Assets||Pillar Wealth Management Fee Amounts|
|$500K||$1,350 - $5,300|
|$1MM||$2,700 - $10,600|
|$5MM||$13,500 - $53,000|
|$10MM||$27,000 - $106,000|
What to Watch Out For
PWM only has one disclosure on its Form ADV. In 2016, the firm paid a fine of $5,750 for allegedly failing to file annual notices with the commissioner of business oversight for the state of California, and for failing to pay annual notice filing fees.
Also, PWM’s minimum account size requirement of $5 million and minimum annual fee of $15,000 may not be financially suitable for all looking to work with an investment firm.
However, as a fee-only firm, PWM is compensated solely by the advisory fees that clients pay, not commissions for selling third-party products and services. This means PWM advisors don't have a conflict on interest between advising their clients and recommending products to generate a commission.
All information was accurate as of the writing of this article.
Tips on Saving for Retirement
- Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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