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What is wealth management , and do you need it ?
by Sebastian Culpan-Scott , Investment Manager , Investec Wealth & Investment ( UK )
Early on in life , it ’ s rare to have sufficient investments or investible assets to consider wealth management . However , as we progress , and we accumulate these assets , we start to think more about how hard they ’ re working and what they can provide for us .
Still , many people hesitate before speaking to a wealth manager because they ’ re not sure what options are available and whether they qualify .
Hesitations can be costly when it comes to investment decisions and tax planning . So , to help you decide if wealth management is right for you , we ’ ve answered some of the most common questions we encounter .
WHAT IS A WEALTH MANAGER ? A wealth manager is someone whose aim is to help clients to build , grow , and preserve their wealth . They work to achieve clients ’ long-term goals and objectives and help them to develop positive investment habits .
Wealth managers often work with individual clients and their families , but may also work with trusts , companies , charities , and endowment funds .
WHAT DOES A WEALTH MANAGER DO ? A wealth manager will work with you to understand your current financial position , requirements , and goals , before creating a bespoke portfolio structured to meet these goals whilst remaining tax efficient .
WEALTH MANAGEMENT INCLUDES VARIOUS SERVICES :
1 . Investment management . Investment management is the total oversight of your portfolio and its handling , including buying and selling assets , plotting the future course for your investments and devising strategies to achieve your goals .
2 . Tax planning . Tax planning is understanding and navigating the complexities of taxation and identifying the best structures to preserve your wealth . Whether you want to drive growth , provide an income , or simply preserve what you have , tax planning plays an important role .
3 . Estate planning . Estate planning is a strategy to allow you to pass on your wealth to future generations in the most tax-efficient manner . This may include creating a will or trust and designated beneficiaries .
4 . Financial planning . Financial planning is the process of aligning your needs , values , and personal goals with every aspect of your finances . It gives you a complete picture of where you are now and where you can get to in the future .
WHAT ARE THE BENEFITS OF WEALTH MANAGEMENT ? The advantages of employing a wealth manager include :
• A portfolio of globally diverse investments We will construct your portfolio from a variety of global investments . This helps to ensure you achieve broad diversification , with the aim of delivering the best performance for your preferred investment strategy
• Access to a broad spectrum of alternative classes If suitable for you , we can further diversify your portfolio with access to a wide range of higher risk investments that are typically not available to individual investors , including absolute return funds , hedge funds , infrastructure funds , private equity , and commercial property funds .
• Proactive portfolio management One of the biggest advantages of wealth management is that your manager can react to sudden changes in market conditions and make important investment decisions quickly . In volatile times , this quick response can make a meaningful difference to your long-term returns .
From selecting your investments to proactively preparing and reacting quickly to changing market dynamics , we will always be monitoring your portfolio to ensure that it is in line with your risk appetite and capacity for loss . In simple terms , we do all the heavy lifting for you .
WHAT IS DISCRETIONARY FUND MANAGEMENT ( DFM )? Discretionary fund management is a level of service offered by wealth managers . With discretionary fund management , you give your wealth manager permission to make decisions on your behalf about how , when , and where to invest your money .
Once we have agreed on an appropriate investment strategy for you , we will take responsibility for all the dayto-day decision-making , enabling us to respond quickly to market changes or capitalise on investment opportunities that may present themselves . With less time spent on your financial decisions , you ’ ll have more time to spend on whatever ’ s important to you .
HOW MUCH DOES WEALTH MANAGEMENT COST ? We charge an ongoing fee for our services . The cost will depend on the size of your portfolio and any transaction charges incurred .
Paying for wealth management services provides you with access to professional advice and experience . It enables you to make informed financial decisions and helps you to work towards your goals and aspirations .
HOW MUCH MONEY DO YOU NEED TO WORK WITH A WEALTH MANAGER ? We sometimes find that potential clients delay enquiring about our services as they feel that they are not wealthy enough to qualify , which is often not the case .
We offer clients different services depending on their requirements and assets . So , it ’ s worth having a conversation about which of our services would be most suitable for you . There ’ s no charge for these discussions . If you ’ d like to find out how we can help you , please get in touch .
Sebastian Culpan-Scott manages investment portfolios on behalf of individuals , offshore bonds , trusts , companies and pensions , as well as funds for charities and endowments . Sebastian ’ s aim is to help clients meet their long-term goals and objectives , whilst also helping them to build positive investment habits . By getting an understanding of a client ’ s current position , requirements and financial goals , he is able to create bespoke portfolios which are structured to meet their objectives , whilst also remaining tax efficient . Sebastian is a Chartered Fellow of the Chartered Institute for Securities & Investment and holds a degree in economics .
To get in touch with Sebastian email : Sebastian . Culpan-Scott @ investecwin . co . uk or call : 07708 296 139
The value of investments , and the income from them , may go down as well as up and you could get back less than you originally invested . Your capital is at risk .
Tax treatment is dependent on individual circumstances and may be subject to change in the future .
Investec Wealth & Investment ( UK ) is a trading name of Investec Wealth & Investment Limited which is a subsidiary of Rathbones Group Plc . Investec Wealth & Investment Limited is authorised and regulated by the Financial Conduct Authority and is registered in England . Registered No . 2122340 . Registered Office : 30 Gresham Street . London . EC2V 7QN .
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