Goldman Sachs · Wired
Silicon Valley’s Elite Financial Advisers Say This Era of Wealth Is Different
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
If anyone in tech has already started their Hot IPO Summer, it’s Silicon Valley’s elite wealth advisers.
Key facts
- The mega rich used to be anyone with a pot of $25 million to $30 million, but these days her average client tends to be worth somewhere between $20 million and $100 million — This is to protect the market from a destabilizing oversupply of stock; typically, the lockup period lasts 180 days
- If anyone in tech has already started their Hot IPO Summer, it’s Silicon Valley’s elite wealth advisers
- Visions of super-yachts, air-cooled Porsches, and vacation homes with closets full of Loro Piana probably come to mind
Summary
Two private wealth managers who work with high-net-worth techies told me they’ve seen an uptick in activity from their client base, some of whom are expecting a big liquidity event this year. Visions of super-yachts, air-cooled Porsches, and vacation homes with closets full of Loro Piana probably come to mind. Ashley Velategui, the head of wealth strategies at Bernstein Private Wealth Management, who has been offering guidance to high-net-worth individuals in Seattle and the Bay Area for nearly 20 years, says she’s encouraging tech clients to figure out how much “core wealth” they need to feel financially independent before making any hasty moves.