Wealth Management is a highly consultative process where we use our expertise in all aspects of Financial Planning as well as coordinating with other advisers to help you to accumulate, manage and protect your wealth in a tax-effective manner.
Wealth Management involves bringing together all of the various financial planning disciplines such as financial management, asset management, risk management, retirement planning, investment portfolio construction, tax planning and estate planning. Essentially it deals with the accumulation, preservation and transfer of wealth.
Very often Wealth Management is described as Investment Advice but it is much more than that.
Much has been written about why investing can seem like a perilous pursuit. A significant issue for investors is that their cognitive and emotional biases cause them to make decisions which damage the value of their investments. The way to mitigate against this is to 1) learn about and recognise our biases and 2) have a defined investment process which will guide your actions.
“The Investors chief problem – even his worst enemy – is likely to be himself.”
The three factors which are most likely to damage your finances are inflation, insufficient diversification and excessive debt.
The market is random. Instead of focusing on beating the market, pay attention to what you can control.
Your asset allocation should be linked to your return objectives
• Invest for the long run
• Buy and hold
• Control your costs
• Pay attention to taxes
Whether you want to invest a lump sum or establish an instalment savings plan to accumulate funds for a future purpose we can advise on what’s best, arrange a product to suit your needs and help you to manage it.
In all cases where we manage investments we devise a strategy and we help you to stick to it through the ups and downs which are part of the investment journey.
Wealth Management is not only about maximising investment returns, it is about finding solutions to problems which will be set by the client based on their circumstances and what it is that they want to achieve and doing so while keeping within certain parameters.
• A client may be seeking to grow their assets
• A client might have accumulated substantial wealth and their primary goal might be to protect the value of their assets from inflation while limiting risk
• A client might have resources from which they want to derive a sustainable income, and they may have certain liquidity objectives
• A client might want to invest in impact, ethical or green initiatives
Furthermore, clients can have their own very particular set of circumstances. A large part of the process is finding out what is important to the client and why, and devising strategies to accomplish this as efficiently as possible while minimising risk.
When we provide financial planning services to a client, one of two scenarios transpires. The client’s aim is generally to accumulate enough wealth to fulfil his or her financial objectives. We assist the client in achieving this by devising strategies, presenting them to the client and after agreement, implementing them and reviewing/adjusting them at regular intervals. If our projections indicate that the client has more resources than they need to fulfil their financial objectives then the problem becomes one of managing this wealth and passing it on to the next generation in the most tax-effective manner, both during the life of the client and on death. The guiding criteria for Estate Planning are legal effectiveness, tax efficiency and practicality.
Estate Planning can also deal with;
• Asset protection
• Charitable giving
• Succession planning
• Wealth preservation
• Health and end of life issues
Everyone should engage in estate planning but obviously, the issue is even more important if you have a large amount of wealth.
Where required we will engage specialist accounting, legal and taxation professionals and we will coordinate the implementation of all agreed actions. We have access to our own panel of advisers or if you prefer we can work with your advisers.
Due to the Covid-19 crisis we have suspended the charging of fees until further notice.
Call us now on 01 546 1100 to arrange a no obligation exploratory Whatsapp, Facebook, Facetime or Skype call.
To start making plans to secure your financial future, please get in touch by phone or email, or using this contact form.