How Richard Siminou Approaches Wealth Management for Business Owners in New York

When I founded Siminou Wealth Management, I had a specific client in mind: the business owner, entrepreneur, or high-income professional in New York who has worked hard to build something — and now needs a financial partner who actually understands the complexity that comes with it.

Over the course of my career, I've worked with clients navigating business exits, multi-generational wealth transfers, concentrated stock positions, and the particular challenge of separating personal finances from business finances. These aren't problems that get solved with a generic portfolio. They require planning that starts with understanding the person first, and the numbers second.

My approach at Siminou Wealth Management is built around four core areas:

Comprehensive financial planning. Before we talk about investments, we map out the full picture — income, liabilities, insurance, estate structure, and long-term goals. Most clients are surprised by what this process reveals.

Retirement and income planning. For business owners especially, retirement doesn't look like a 401(k) alone. We work through structures like SEP-IRAs, defined benefit plans, and profit-sharing strategies that fit how they're actually compensated.

Life insurance and risk management. This is often the most underutilized part of a financial plan. Used correctly, life insurance isn't just protection — it's a planning tool for estate transfer, key-person coverage, and tax-efficient wealth accumulation.

Estate planning coordination. I work alongside estate attorneys and CPAs to make sure the financial plan and the legal documents are aligned. A will or trust that doesn't match the financial structure creates expensive problems for families.

If you're a business owner or pre-retiree in the New York area and you want a second opinion on your current plan, I'm happy to have a straightforward conversation. There's no pitch. Just an honest look at where you stand and what, if anything, needs attention.

Richard Siminou, MBA, is the founder of Siminou Wealth Management in Kings Point, New York. This content is for educational purposes only and does not constitute investment advice.