Private Clients

Private Clients
As a Private Client, you get more than just a personalized portfolio, you get a team dedicated to helping you reach your goals. Tap into our expertise in legacy planning, private equity, and more.
To learn what personal information Personal Capital collects, please see our privacy policy for details.
Over $22.7B assets under management
Private Client assets under management
Our personalized portfolio management takes your legacy holdings and cost basis into account, with an emphasis on institutional-style diversification and risk management.
We take all your investments and assets into account when building your portfolio and come up with a game plan in helping you with stock options, private company stocks and highly appreciated securities.
We minimize your tax liability by using municipal bonds, and tax-managed individual stocks. Your income generating assets are put in tax deferred accounts and capital gain generating assets are put in taxable accounts.
You get a broad, life-simplifying suite of products and services exclusively for Private Clients through our partnership with BNY Mellon.
Access a diversified basket of private equity investments to build a portfolio previously only accessed by large, institutional investors.
We start by listening to you, through discussions with your advisors, then we take a look at your Dashboard to build a personalized portfolio. As your life changes, the strategy adjusts and adapts, so it aligns with your changing needs.
Smart Weighting is our strategy for giving your portfolio more even exposure across size, economic sector, industry, and individual securities. In a hypothetical back-test* from 1990 to end of June 2019, Smart Weighting would have produced better returns with a lower risk profile (measured by standard deviation) than a traditional market-capitalization weighted index like the S&P 500.
*For full methodology please click here
If appropriate, we’ll put together a tax analysis before we make adjustments to your portfolio. This way you’ll see potential impact of any adjustments, plus other options, to help you make a decision you’re comfortable with. We deploy strategies such as tax location (placing higher yielding securities in tax-sheltered accounts) and proactive, year-round tax loss harvesting. We do these on an ongoing basis, to increase tax efficiency. We also like to avoid inefficient investments, like mutual funds.
Once your target strategy is set, sticking to that target is key. Using our proprietary software, we monitor your account on a daily basis to uncover rebalancing opportunities as they arise. We then make adjustments if appropriate, buying when things are lower than their target & selling when they are higher than target, to help you stay on track. This combination of people and technology allows us to rebalance as-needed, rather than on a rigid, calendar-driven schedule.
We prefer individual stocks and ETFs for two main reasons. First, they are key to our Smart Weighting ™ strategy. Additionally, we can manage them in a tax efficient way and rebalance in a more precise manner. We avoid mutual funds because they come with tax inefficiencies and, in many cases, there are high fees tied to actively managed funds.
Muni bonds are often a great way to generate tax-free income within your portfolio. When it’s appropriate, we’ll use individual municipal bonds from your state of residence. Of course, if you live in a state that does not pay state income tax, individual municipal bonds may not be the best option for you. As your fiduciary advisor, we’ll discuss how best to incorporate munis into your strategy if your situation warrants.
For investors who have $5+ million in liquid assets to invest, and who meet other specific criteria, Private Equity may be incorporated into your portfolio. Private Equity allows you to access companies that do not trade on public stock exchanges. Historically, top tier Private Equity funds have been shown to outperform public markets. Along with a potential boost in performance, incorporating Private Equity allows you to diversify into an additional asset class. When building a Private Equity portfolio, we recommend you do so over multiple years so we can commit small amounts of capital to a variety of funds to ensure a properly diversified Private Equity component.**
** Available to certain qualified clients that meet suitability requirements and have $5 million or more invested with Personal Capital
Your portfolio is separately managed from all other clients and is never pooled. This way, we can fully take into account your personal investment needs and preferences. This may be a fully integrated Socially Responsible Portfolio, or simply avoiding a certain stock due to large outside exposure or compliance issues, and any adjustment in between. The majority of our clients choose to customize their portfolio in some way, so simply chat with your advisor to find out how we can best fit your needs.
You save for retirement. But what about retirement spending? With the combination of our skilled advisors and proprietary Smart Withdrawal ™ Tool, we can help you plan how to withdraw and spend money in retirement. The Smart Withdrawal Tool factors in your data and adjusts in real time to keep your cash flow planning on track.
College is expensive, but we can help you put together a plan to fund education goals over time. From the highest level goal of “I want to pay for my child’s education” to the most specific “I want to pay for my grandchild to attend UCLA in 6 years”, we’ll help you build a plan, using our skilled financial advisors and proprietary financial tools.
How’s your 401k? We strive to position all of your assets to work together. so we will review your active retirement plan investment options and provide a recommendation that aligns with your overall investment strategy. This way your active retirement plan and outside, liquid assets can work seamlessly together to help you meet your goals.
Do you have an estate plan? If not, don’t worry. Our estate planning specialists can help. They’ll discuss your current and future legacy goals in detail, review your existing estate structure, and provide suggestions on what should be adjusted over time to meet your objectives.
Many investors wind up with far too much, or far too little, insurance over time. They’ve either been sold policies over the years they don’t need, or they’ve avoided insurance agents for fear of being “sold.” We can provide a neutral review of your current insurance coverage. We’ll then provide a recommendation if you need more (or less) coverage. We’ll be acting as your fiduciary.
You don’t want to pay any more in taxes than you need. Our in-house planning team can provide general tax guidance and review past tax returns to help you manage taxes efficiently. While we don’t file your taxes for you, we want to help optimize this part of your financial life.
We charge one all-inclusive annual management fee at a fraction of the cost of traditional financial institutions. There are no hidden fees, no trailing fees and no trade commissions.
Let’s start the conversation about becoming a member of our Private Client Service. You can reach us directly by phone, email or schedule a call with one of our advisors.
Advisory services are offered for a fee by Personal Capital Advisors Corporation ("PCAC"), a registered investment adviser with the Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investing involves risk. Past performance is not indicative of future returns. You may lose money. All visuals are illustrative only. Featured individuals are actors or paid spokespeople and not clients of PCAC unless otherwise noted. Any testimonial of advisory services are representative of the client’s views at the time it was collected. PCAC is a wholly owned subsidiary of Personal Capital Corporation ("PCC"), an Empower company. PCC is a wholly owned subsidiary of Empower Holdings, LLC. Read Full Disclosures »
Invest with logic. Plan with heart. ™
© 2022 Personal Capital Corporation, an Empower Company. All rights reserved.
Personal Capital Advisors Corporation ("PCAC") compensates ("Company") for new leads. ("Company") is not an investment client of PCAC.
["Author"] has entered into an agreement with Personal Capital Corporation ("Personal Capital"), through which Author will be paid up to $200 for each person who uses webpage to register with Personal Capital and links at least $100,000 in investable assets to Personal Capital's Free Financial Dashboard. The “Author”, due to such compensation, has an incentive to recommend Personal Capital, resulting in a material conflict of interest. Author is not affiliated with Personal Capital and Author's services consist solely of referrals of prospective clients. As a result of this arrangement Author may financially benefit from referring qualified leads to Personal Capital. No fees or other amounts will be charged to investors by Author or Personal Capital as a result of the arrangement. Investors that are referred by Author to Personal Capital and subscribe for investment advisory services provided by Personal Capital’s subsidiary, Personal Capital Advisors Corporation (“PCAC”), will not pay increased management fees or other similar compensation to Author, Personal Capital or PCAC as a result of the arrangement. This agreement with Author does not imply a sponsorship, endorsement, approval, investigation, verification, or monitoring by PCAC of the contents of the Author's website. Personal Capital is not responsible for the content of any website owned by a third party that may be linked to Personal Capital's website regardless of whether the link is provided by PCAC or a third party. Personal Capital does not prepare or maintain, has not and will not review or update, and does not guarantee the accuracy, timeliness, completeness, suitability, reliability, or usefulness of any information contained on a linked third-party website.
Advisory services are offered for a fee by PCAC, a wholly owned subsidiary of PCC, an Empower company. PCAC is a registered investment adviser with the Securities Exchange Commission ("SEC"). SEC registration does not imply a certain level of skill or training. Past performance is not a guarantee of future return. Investing involves risk. Personal Capital and the Personal Capital logo are trademarks of PCC. All other trademarks, trade names, or service marks used or mentioned belong to their respective owners.

We take great pride in providing meticulous service in the most complex and dynamic personal situations and it shows: we have families that have consistently trusted our practice for generations.
Our clients work with a counselor who is motivated to understand their unique set of goals and challenges, applying our “one size does not fit all” methodology and our innovative and personalized approach to all matters. In addition, our attorneys are able to seamlessly draw on the significant resources of the firm’s additional practices areas, including Litigation and Tax, to offer the full range of legal needs to our clients.

Herrick's Private Clients attorneys provide legal counsel and related services to high-net-worth individuals, multi-generational family estates and trusts, corporate fiduciaries and non-profit organizations. We handle the legal and contractual dimensions of key life events from creating and refining vehicles for wealth transfer, to administering wills and trusts and resolving intra-family disputes. Unlike most private clients practices, our team utilizes an in-house accounting team that can prepare and file tax returns for individuals, fiduciaries and exempt organizations to complement our legal advice.
Lawyers in the firm’s Private Clients Group support clients in a broad range of areas, including:
Minimizing substantial estate and gift taxes for clients through wills and irrevocable trusts, lifetime gifts, insurance vehicles, retained interest trusts, corporate reorganizations, family limited partnerships, charitable gift planning and other arrangements.
Representing fiduciaries and beneficiaries in estate and trust litigations. We combine our extensive knowledge of estate law with significant experience in challenging litigation to successfully handle every type of litigated trusts and estate action including will contests, will construction, judicial accounting and construction proceedings, and prosecution and defense of suits by and against both executors and trustees.
Valuing, reorganizing and administering closely held corporations, partnerships and other forms of privately held foreign and domestic businesses, as well as planning for disposition of an owner’s interest. Our attorneys structure vehicles for inter-generational business transfers, reducing transfer tax costs and potential family discord. Working closely with our Corporate Department, we can reduce gift and estate taxes that might be incurred in such transactions and provide for appropriate ownership succession and control for succeeding generations.
Providing comprehensive support to executors and trustees, including the administration of estates of high-net-worth individuals and the trusts they create. The firm helps executors marshal and value estate assets, prepare estate tax returns, and deal with distribution planning and property sales and transfers. We provide day-to-day trusts and estates administration and planning to take advantage of opportunities for maximum income and estate tax savings and deferral. In addition, we assist foreign estates in collecting U.S. property and ensuring that all requisite U.S. taxes are paid.
Counseling individuals and trusts and estates in cases before the Internal Revenue Service, United States Tax Court and state taxing authorities. In addition, our attorneys’ valuation know-how is used in intra-family dispute resolutions. We have particular experience in handling issues involving valuation and transfer of closely held business entities, real estate, intellectual property and works of art, and are well-versed in complex income tax issues. Where appropriate, members of our Real Estate and Corporate Departments work closely with outside appraisers to ensure an appropriate valuation.
Advising charities on corporate, trust and tax issues related to investments, grant making and planned giving vehicles. The group represents not-for-profits in merger and dissolution proceedings, and charities as beneficiaries of trusts and estates. We counsel our private clients on the most tax effective methods of charitable giving and provide a full range of administrative services to clients’ private foundations, advising them with respect to federal excise taxes on self-dealing, excess business holdings and taxable expenditures. Our team also has experience creating charitable entities, preparing and filing the federal and state applications to recognize such organizations’ tax-exempt status, advising board members regarding tax and administration issues, resolving disputes among board members and advising charities with respect to governance issues.
Documents such as Health Care Proxies, Powers of Attorney and Living Wills, when properly drafted, assist in avoiding the need and expense of guardianship proceedings.
A non-U.S. person who owns United States property, including real estate, art or shares in a U.S. company, might be surprised to discover that such property may be subject to a very significant U.S. estate tax. With proper planning, this tax can be substantially reduced or even avoided altogether. For non-U.S. citizens who, directly or indirectly, own property connected with the U.S. we can explain and implement techniques to avoid or minimize U.S. estate and gift taxes.
Persons becoming residents or citizens of the U.S. have discrete tax issues and planning opportunities that are inapplicable to current citizens and residents. With proper planning, we can help new immigrants avoid these pitfalls and possibly shield significant assets from estate taxes for several generations.
Herrick was once again recognized by The Legal 500 United States 2022 edition as a leading law firm, with rankings in our Real Estate (Tier 4...
We invite you to continue to check our COVID-19 Resource Center, which is being updated regularly by lawyers from across practice areas to provide the full...
Carol Goodman, co-chair of Herrick's Litigation Department and chair of the firm's Employment Practice, was named to the annual list of Employment Law Trailblazers.
We are proud to announce that Chambers USA has ranked Herrick’s real estate, commercial litigation, real estate litigation, sports law and zoning/land use practices for distinguished...
This award honors an elite group of lawyers who have made an impact on the legal community and practice of law over an entire career.
Herrick was once again recognized by The Legal 500 United States 2022 edition as a leading law firm, with rankings in our Real Estate (Tier 4...
We invite you to continue to check our COVID-19 Resource Center, which is being updated regularly by lawyers from across practice areas to provide the full...
Carol Goodman, co-chair of Herrick's Litigation Department and chair of the firm's Employment Practice, was named to the annual list of Employment Law Trailblazers.
We are proud to announce that Chambers USA has ranked Herrick’s real estate, commercial litigation, real estate litigation, sports law and zoning/land use practices for distinguished...
This award honors an elite group of lawyers who have made an impact on the legal community and practice of law over an entire career.
Herrick was once again recognized by The Legal 500 United States 2022 edition as a leading law firm, with rankings in our Real Estate (Tier 4...
We invite you to continue to check our COVID-19 Resource Center, which is being updated regularly by lawyers from across practice areas to provide the full...

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No Chase fees on most everyday banking transactions including:

No ATM fees worldwide. 2
No Chase fee on incoming or outgoing wire transfers. 3
No fees on the first four overdrafts during the current and prior 12 statement periods. 4

Higher limits on Chase Private Client debit card purchases and ATM withdraws, as well as Zelle ® limits. Special entertainment perks and access to exclusive online and in-person events. Manage cash flow, identify payment solutions and explore financing options with your Business Banking team.

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