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    • miguelmartino
    • By miguelmartino 14th Apr 19, 9:28 PM
    • 5Posts
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    miguelmartino
    wealth
    • #1
    • 14th Apr 19, 9:28 PM
    wealth 14th Apr 19 at 9:28 PM
    Where do rich people like bill gates go to for financial advice like administering their net worth or planning for retirement? What kind of accountants, lawyers, and fiduciary advisors do they turn to? Who advices them how to manage their wealth? where do they turn to for financial advice if were talking about a lot of money? can anyone please share their opinon on this subject? any opinions are welcomed.
Page 1
    • worried jim
    • By worried jim 14th Apr 19, 9:38 PM
    • 10,092 Posts
    • 15,640 Thanks
    worried jim
    • #2
    • 14th Apr 19, 9:38 PM
    • #2
    • 14th Apr 19, 9:38 PM
    How much you got?
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • Zanderman
    • By Zanderman 14th Apr 19, 9:39 PM
    • 2,054 Posts
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    Zanderman
    • #3
    • 14th Apr 19, 9:39 PM
    • #3
    • 14th Apr 19, 9:39 PM
    I assume you're still in the US, as in your previous posts? And I assume the answer would be that such people, if they're US-based, would use US-based advisors. I doubt anyone here, on a UK-based site, could tell you much about those.
    • Shedman
    • By Shedman 14th Apr 19, 9:40 PM
    • 278 Posts
    • 185 Thanks
    Shedman
    • #4
    • 14th Apr 19, 9:40 PM
    • #4
    • 14th Apr 19, 9:40 PM
    They get their advice from strangers on Internet forums.
    • ColdIron
    • By ColdIron 14th Apr 19, 9:45 PM
    • 5,130 Posts
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    ColdIron
    • #5
    • 14th Apr 19, 9:45 PM
    • #5
    • 14th Apr 19, 9:45 PM
    A poundshop JohnLock speaks

    if someone started working as a bricklayer and made about 50k per year and did this for about 50 years, how big would their social security pension be when they retired at 70 years old if they started working at 20 years of age and made 50k per year working as a bricklayer???? can someone give me an idea, how big their social security pension be in u.s. dollars?? anyone? how can this be determined? they never had any kids or were married. im all ears to your opinions you guys. rsvp.
    Originally posted by miguelmartino
    what kind of stocks can make someone millionaire rich assuming we can call it that? how long would it take for that person to see some serious returns??? what kind of stocks can make someone rich assuming were talking long term as well? has anyone ever gotten rich by buying stocks or would this only be urban legend? would it be a long term deal in order to see some serious money when it comes to buying stocks? if i had money to buy stocks, would i have to wait a real long time to see some serious return here? can someone please give me their opinion. thank you.
    Originally posted by miguelmartino
    they started working at 20 and retired at 70. each year they made about 50k working as a bricklayer. would this be approximate enough? rsvp.
    Originally posted by miguelmartino
    • jonnygee2
    • By jonnygee2 14th Apr 19, 9:45 PM
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    jonnygee2
    • #6
    • 14th Apr 19, 9:45 PM
    • #6
    • 14th Apr 19, 9:45 PM
    They will have a 'family office', essentially a company in their name that manages their assets and cashow for them, as well as their personal PR etc. Any advice or input needed will be sourced by the office.

    They may or may not have personal involvement. I know the COO at one family office in London very well, their owner gets updates once a month which they doubt he ever reads.
    • bowlhead99
    • By bowlhead99 14th Apr 19, 9:45 PM
    • 8,605 Posts
    • 15,745 Thanks
    bowlhead99
    • #7
    • 14th Apr 19, 9:45 PM
    • #7
    • 14th Apr 19, 9:45 PM
    Where do rich people like bill gates go to for financial advice like administering their net worth or planning for retirement?
    Originally posted by miguelmartino
    Professional advisors
    What kind of accountants, lawyers, and fiduciary advisors do they turn to?
    Hopefully the good kind. If you have billions then you can afford to make a lot of mistakes and get ripped off by a lot of sharks - but if you have billions then you probably acquired it by being quite savvy and will come across people in your professional network who understand how the world works, and are able to dissuade you from being taken to the cleaners. Others in your circle of trust may be able to assist with recommendations of good quality advisory firms. In the absence of that you could to simply go to the largest and most successful law firms in your jurisdiction and conduct a 'beauty parade' together with using prestigious accounting / advisory / fiduciary firms.

    When you have more money than you can spend and have already made it clear that you will be donating a large portion of your billions to charity, cost is a low secondary consideration to quality and customer service.


    can anyone please share their opinon on this subject? any opinions are welcomed.
    Why do you need and welcome anyone's opinion on how a billionaire gets financial advice ? You are not a billionaire. If you are, I am sure Bill will take your call and tell you himself of anyone he recommends and anyone he thinks you should avoid.

    If you are still a small time drug dealer in El Salvador working out how to keep your money offshore in a tax-neutral jurisdiction while relocating to Canada, you will probably use different service providers to Bill.
    • dunstonh
    • By dunstonh 14th Apr 19, 10:24 PM
    • 97,994 Posts
    • 66,155 Thanks
    dunstonh
    • #8
    • 14th Apr 19, 10:24 PM
    • #8
    • 14th Apr 19, 10:24 PM
    Don't waste your time responding.

    The OP is based in the US and has created multiple threads over the last few weeks with pretty random questions and does not return to the threads. Could be a bot or could be farming for answers to put on another site.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • badger09
    • By badger09 16th Apr 19, 4:51 PM
    • 6,819 Posts
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    badger09
    • #9
    • 16th Apr 19, 4:51 PM
    • #9
    • 16th Apr 19, 4:51 PM
    Professional advisors

    ............... Others in your circle of trust may be able to assist with recommendations of good quality advisory firms.


    ...................

    If you are still a small time drug dealer in El Salvador working out how to keep your money offshore in a tax-neutral jurisdiction while relocating to Canada, you will probably use different service providers to Bill.
    Originally posted by bowlhead99
    https://www.youtube.com/watch?v=KfDncEmY0hY

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