High Net Worth Financial Planning | CPA

Over 35 years, Bouchey Financial Group has grown to manage more than a billion dollars for over a thousand clients across the country. The firm requires a $500,000 minimum in investable assets, not as a gate, but because the CPA and CFP® integration that defines the model produces the most value for clients whose financial lives are complex enough to need it. CPAs, CFP® professionals, and an IRS Enrolled Agent share one client file. There are no handoffs between firms, and there are no gaps between tax strategy and investment strategy.

For high-net-worth clients, the stakes on every financial decision are higher. Schedule a consultation with Bouchey's team to see what integrated high net worth planning looks like for your situation.

Why Fee-Only Financial Planning Matters

A fee-only advisor is compensated solely by the client. No commissions, no product sales, no revenue from third-party referrals. For a client with significant investable assets, where a single portfolio recommendation can involve six or seven figures, that alignment is not a minor distinction.

The fiduciary standard adds a legal obligation: every recommendation must serve the client's best interest at all times. That is a higher bar than the "suitability" requirement that governs many broker-dealers, which only requires that a recommendation be suitable, not necessarily optimal. A broker can recommend a product that pays them a higher commission as long as it clears the suitability threshold. A fiduciary cannot.

Bouchey has operated as a fee-only fiduciary since 1995. Without proprietary products, sales quotas, or corporate mandates. The firm uses Schwab's institutional platform with zero-transaction-cost access, and clients receive automated email notifications with the rationale behind every portfolio trade. Transparency is built as a premise to our daily workflow.

Tax Strategies for High-Income Investors

Tax efficiency is one of the largest drivers of after-tax wealth at higher income levels. The difference between a tax-aware and tax-unaware investment strategy compounds every year, and the compounding accelerates as assets grow.

Bouchey's CPAs and CFP® professionals coordinate tax-loss harvesting with portfolio management in real time, not as an annual exercise. Asset location across taxable and tax-advantaged accounts is set at the plan level, not improvised account by account. Roth conversion analysis is modeled against the full tax picture, including practice or business income, investment gains, and projected future brackets.

For executives with equity compensation, Martin Shields, CFP®, AIF®, has written about the reality that stock prices can also decline, a planning consideration that too many advisors treat as an afterthought. Concentrated stock positions, option exercise timing, and deferred compensation decisions all require the CPA and CFP® to be working from the same file. At most firms, they are not.

Investment Strategies for Large Portfolios

Diversification at the $500K+ Level

Portfolio construction at the $500K+ level goes beyond a standard stock-and-bond allocation. Bouchey's investment team builds portfolios across multiple asset classes, structured around the client's tax situation, income needs, and time horizon. 

The firm's largest holdings reflect a long-term, conviction-driven approach, and the quarterly market reports authored by Paolo LaPietra, CFP®, and Ryan Bouchey, CPA, CFP®, give clients a clear view of the investment thesis behind the portfolio.

Managing Concentration Risk

High-net-worth investors, particularly business owners and executives, frequently carry significant wealth concentration in a single company or asset. Managing that concentration — through diversification strategies, hedging, or structured sale programs — is a planning priority that generic advisory services rarely address with sufficient depth. Investment management at the high-net-worth level accounts for this from the start.

Estate and Legacy Planning

Estate planning is essential for anyone with significant assets, dependents, or specific wishes about wealth transfer. At the $500K+ level, decisions around trusts, beneficiary designations, gifting strategies, and charitable planning carry real tax and legal consequences that affect how much wealth actually transfers to the next generation.

For high-net-worth clients, estate planning intersects directly with investment and tax strategy. Assets held in trusts are managed differently than those in individual accounts. Charitable giving vehicles like donor-advised funds or charitable remainder trusts create tax benefits while supporting legacy goals. These decisions require coordination across legal, tax, and financial planning disciplines simultaneously.

How to Choose a Fee-Only Wealth Manager

The right high-net-worth advisor combines technical credentials, fiduciary obligation, and the firm structure to deliver coordinated planning across disciplines. Key credentials to verify include CFP® certification for financial planning, CPA for tax strategy, and RIA registration for fiduciary status. Team depth matters too — a single advisor cannot provide the same breadth of expertise as a multi-disciplinary team working from a shared plan.

Bouchey Financial Group's team of advisors includes 9 CFP® professionals, 3 CPAs, 1 IRS Enrolled Agent, and 1 Certified Private Wealth Advisor® — a credential structure designed for the complexity high-net-worth clients bring. Contact the team to schedule a free consultation and learn what fee-only, fiduciary wealth management looks like for your specific financial situation.

 

Frequently Asked Questions

What net worth is required to be considered high net worth? 

The industry standard places high net worth at $1 million or more in investable assets, though many firms — including those focused on emerging HNW clients — set minimums at $500,000. Federal Reserve distributional data shows that a net worth of approximately $2 million places a household in the top 10% of U.S. wealth holders.

What is the difference between fee-only and fee-based advisors? 

Fee-only advisors are compensated exclusively by the client and earn no commissions on products. Fee-based advisors may charge client fees but can also earn commissions on certain products they recommend — creating a conflict of interest that fee-only structures eliminate entirely. For high-net-worth clients, this distinction affects the objectivity of every recommendation.

How much does high net worth financial planning typically cost? 

Fee-only advisors typically charge either a percentage of assets under management — commonly 0.5%–1% annually for larger portfolios — or a flat retainer ranging from $7,500 to $15,000 or more for comprehensive planning. The right structure depends on portfolio size and the scope of services required.

What credentials should a high net worth financial advisor hold? 

CFP® certification covers financial planning breadth, CPA credentials indicate tax expertise, and RIA registration confirms fiduciary obligation. Additional designations such as CPWA® (Certified Private Wealth Advisor) or AIF® (Accredited Investment Fiduciary) signal specialized experience with complex wealth situations. Verifying all three dimensions — planning, tax, and fiduciary — is the minimum standard for high-net-worth advisor selection.

How does high net worth planning differ for business owners versus executives? 

Business owners require planning that integrates practice or company value into the overall financial picture — including exit planning, entity structure, and liquidity event preparation. Executives with equity compensation face different challenges: stock option exercise timing, concentrated position management, and deferred compensation decisions. Both profiles require tax strategy that is built into the plan, not added as an annual filing.

At what point should someone move from a general financial advisor to a high net worth specialist? 

The transition point is typically when financial decisions start carrying consequences that a generalist is not equipped to model — such as a business sale, a significant inheritance, equity compensation, or retirement income planning across multiple complex account types. Asset level alone is less important than planning complexity; $500,000 with a business, real estate, and equity compensation requires more specialist depth than $1 million in a single brokerage account.

How does estate planning change at the high net worth level? 

Above certain asset thresholds, estate planning moves beyond basic wills and beneficiary designations into trust structures, gifting strategies, and charitable vehicles designed to minimize estate tax exposure and control wealth transfer. Federal estate tax currently applies to estates above $13.61 million per individual in 2024, but state-level estate taxes apply at lower thresholds in many states — making proactive planning relevant well below the federal limit.