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High-Net-Worth Wealth Management on Long Island
You've already built the wealth. The questions now are about taxes and how your wealth eventually reaches the people you intend it for. Investment Insight Wealth Management works through those questions with affluent families on Long Island.
When the Questions Shift From Building Wealth to Passing it On
After 30 or 40 years of building, you already know how to earn and how to save. The questions you’re facing at this stage are different, and many of them come up for the first time in your late 50s or 60s:
- How much of this goes to taxes before it reaches my children?
- Do I still know what my will says?
- Is anyone looking at everything at once?
- If something happened to me, would my spouse know where everything is?
There's a reason for this: your finances have become more complicated as they've grown. You may have accounts opened at different stages of your career, a CPA who handles your filing each spring, an attorney who drafted your estate documents some years ago, and insurance coverage you haven't reviewed in a while. Each professional sees one part of your finances, and they rarely speak with one another. What you end up with is a series of individual decisions that were never checked against each other.
New York adds another layer to it all. Property taxes in Nassau and Suffolk Counties are high enough that your home belongs in the planning conversation alongside your investment accounts. The state also applies its own estate tax on top of the federal rules, which brings some families into unexpected estate conversations. And if you own a business, the year you sell it can affect your taxes well beyond that one filing season.
The reassuring part is that these questions have answers, and they get easier once someone is looking at everything at the same time. Investment Insight Wealth Management works with families who have reached this stage, bringing the pieces into one plan and keeping your CPA, attorney, and insurance professional working from the same information, so you have one place to go when a question comes up.
A Coordinated Approach to Managing and Transferring Wealth
Robert J. Sullivan does that coordinating work directly. He models how your investments, tax exposure, and wealth transfer goals interact, so a decision in one area is less likely to create a problem in another.
Holding the Chartered Financial Consultant® (ChFC®) and National Social Security Advisor (NSSA®) designations, Robert has more than 30 years of experience. He has spent most of that time working with Long Island families whose finances span multiple accounts, a business or real estate holdings, and more than one generation.
Robert works out of the Massapequa/Farmingdale office alongside his son, Christopher R. Sullivan. You work with the same people year after year, which matters when a plan is meant to last decades.
High-net-worth families typically work with Investment Insight through ongoing investment management, billed as an annual percentage of assets under management, which for qualifying households includes comprehensive financial planning and professional coordination within that fee. Comprehensive financial planning is also available on a standalone basis, billed as a flat fee of up to 1.5% of annual household income ($3,750 minimum).
What's Included
Managing a portfolio shaped by your goals and risk tolerance, with attention to the liquidity and debt considerations that come with a larger, more complex set of holdings.
Coordinating with your CPA to help manage the ongoing tax impact on a substantial portfolio and on wealth as it transfers.
Wealth Transfer and Legacy Coordination
Working alongside your estate attorney with the goal of your wealth passing to the next generation the way you intend, with attention to estate-tax exposure.
Reviewing whether your existing insurance coverage still aligns with your plan and referring you to a licensed insurance professional if gaps appear.
Philanthropic and Charitable Giving
Helping you build charitable goals into your plan in a tax-aware way, in coordination with your tax and legal professionals.
Estate planning involves legal matters; IIWM coordinates with your estate attorney and does not provide legal services.
High-Net-Worth Wealth Management FAQ
How can I reduce taxes on a large investment portfolio?
Affluent families can manage tax exposure through coordinated strategies across investments, withdrawals, charitable giving, and wealth transfer, rather than relying on any single tactic. Taxes often become one of the highest ongoing costs on a substantial portfolio. A wealth manager evaluates these and coordinates timing with your CPA, who handles the filing itself. Combining federal, state, and local tax considerations into one plan can support a more tax-aware approach over time. Not intended as tax or legal advice; consult a qualified professional regarding your specific situation.
How does a wealth manager work with my estate attorney?
A wealth manager helps you plan how assets pass to family or charity, then coordinates that plan with the estate attorney who prepares the legal documents. The advisor models how different transfer approaches interact with your income, taxes, and long-term goals so the pieces work together. Estate planning involves legal work, so Investment Insight Wealth Management works alongside your attorney rather than providing legal services directly. This coordination aims to reduce confusion and help you and your attorney weigh estate-tax exposure as wealth moves to the next generation. Estate planning involves legal matters; IIWM coordinates with your estate attorney and does not provide legal services.
What should I look for in a wealth advisor on Long Island?
Look for a fiduciary advisor experienced in coordinating tax, estate, and investment decisions across a complex financial picture. As wealth grows, the value of an advisor shifts from picking investments toward working with the growing number of professionals involved in your plan. Credentials and experience working with complex, substantial portfolios tell you something about that. Robert J. Sullivan holds the ChFC® and NSSA® designations and brings more than 30 years of experience working with affluent families on Long Island.
How much money do you need to be considered high net worth?
There is no fixed line, though many firms treat about $1 million in investable assets as the threshold at which the high-net-worth label makes sense. Once you have several accounts opened at different points over the years, significant tax exposure, and decisions ahead about how assets eventually pass to family, a single point of oversight starts to earn its keep. Investment Insight Wealth Management works with individuals and families across Long Island, and virtually with clients nationwide. A first conversation is the easiest way to find out whether we're a fit for what you're dealing with.
How does charitable giving fit into a financial plan?
Charitable giving can be built into a wealth plan in tax-aware ways that support the causes you care about while managing your overall tax exposure. Approaches range from giving appreciated assets to using structured giving vehicles, each with different tax and timing considerations. A wealth manager helps you weigh these options and coordinates the structure with your tax and legal professionals. Not intended as tax or legal advice; consult a qualified professional regarding your specific situation.
Plan for What You’ve Built and for What Comes Next
You've built substantial wealth over many years. Let's talk about preserving it and passing it on the way you intend.
Results depend on individual circumstances. Investing involves risk, including possible loss of principal. Not intended as tax or legal advice; consult a qualified professional regarding your specific situation.
