Advisor Helps $15 Million Client Reduce Taxes And Fears

It’s great when that light bulb goes off and people realize they shouldn’t be putting their whole net worth in the same basket. But they may still be sitting in the dark if they’ve accumulated many baskets and don’t have anyone helping them understand the many moving parts.

A widow now in her mid-70s was in this situation when she first met several years ago with Plancorp, a St. Louis-based RIA firm that manages $4.2 billion of assets. Another client of the firm whom she knew personally had referred her because he thought she could benefit from additional assistance shortly after her husband died. The bulk of her $15 million in net worth was split between farmland and liquid investments parked with multiple advisors at multiple firms.