Harness Wealth Reviews

Harness Wealth is a financial advice platform. It offers a centralized location to connect with equity specialists, track your finances and get insights on your taxes.

The company mostly works with clients that have complex assets or those who are trying to manage significant financial milestones, including:

• Entrepreneurs and business owners
• Employees with equity
• Venture capitalists and angel investors
• Crypto, token and NFT owners
• Multistate and international entities

When you access Harness Wealth’s advisor marketplace, you’re referred to financial, tax and estate planning firms that work together to manage your assets. Harness Wealth also has an in-house tax brand, Harness Tax, that may be recommended in the marketplace based on your profile.

To get started with Harness Wealth, you must register for an account and fill out a short questionnaire. Harness Wealth uses your asset makeup, current milestones and financial goals to get a holistic view of your financial health.

Based on your profile, Harness Wealth matches you with tax, financial and estate firms. Typically, Harness wealth refers two to three firms for each type of service.

Harness Wealth puts its partner firms through a rigorous screening process to ensure clients receive quality service. The evaluation process for firms focuses on:

• Compliance
• Fees
• Services and expertise
• Staff
• Security and technology
• Affiliations and references

After receiving your recommendations, speak to the Harness Wealth Concierge to answer questions and schedule consultations with the firms. These meetings can happen over the phone, via video call or even in person. You may also request a follow-up consultation with the advisor.

Each introductory call with a firm is free. The consultation process is different for each type of firm, but generally the consultations last 30 to 45 minutes. Remember to prepare your necessary financial documents ahead of the consultation.

It’s up to you to decide which firms best suit your financial needs. Harness Wealth recommends choosing one firm in each category for an optimal wealth management strategy, but that’s not required. You can start with a firm that fills one of your needs and connect with another firm later.

Harness Wealth partners with firms to provide you with financial advisory, tax and trust and estate planning services.

Harness Wealth does not charge you for using its platform.

Fees for wealth management services depend on the firm you select and your available assets. In general, you’re charged based on the amount of your investable assets managed by the firm.

The service fees for investment management services are generally 1% or lower for your first $1 million. That’s about $10,000 to start, but your fees go down as your assets increase. Financial, tax and estate planning services typically have a flat fee between $1,000 and $5,000 per service or an hourly rate between $200 and $600 per hour.

Harness Wealth’s one-on-one virtual tax planning sessions are $250 per session at the time of publishing.

Harness Wealth is a legitimate company. Its advisor marketplace is a great resource for founders, early employees and investors that are looking for personalized tax and financial advice. Just make sure you have enough assets to qualify for whatever financial advisory services you may need. Remember, if you’re dissatisfied with service in the first year, Harness Wealth offers to refund 100% of your fees.