Wealth management is an ongoing process

March 30, 2016 IQ Admin

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Wealth management is an ongoing process


Wealth management is an ongoing process is a brief overview of the recent Budget around pensions and how it is important to keep personal finances under review.


So another Budget has passed with the usual pre-Budget leaks and rumours surrounding pension savings and how the tax reliefs available and tax free cash entitlements are to be curtailed or even withdrawn.  Yet again these rumours which swirl around the financial press have proven to be unfounded.


Or have they?  The Chancellor appears to have heeded warnings from within his own party of massive opposition from the prudent within middle England to any further meddling on pensions.  However, he did manage to introduce the Lifetime ISA a variant of which was mooted as a replacement for pensions as we currently know them.  Only time will tell but it may just be that we have seen something of a Trojan Horse introduced more of which will come later when the Chancellor feels a little more confident about changing the tax treatment of pension savings.


I mention this as I think it highlights the need for ongoing constructive dialogue with your wealth manager.  The objectivity that a good wealth manager will bring as well as being continually up to date with the rumours as well as the facts and bringing planning experience to bear on your finances should be of real benefit to your financial well-being.


The result will almost always lead to better-informed financial decisions


The planning process helps you to fully understand your existing financial situation, assess the suitability of any new investment opportunity, and give you a clearer idea of what you need to do to achieve your objectives.


An efficient use of your money, both from income and capital.


Effective planning is the key to allocating your available resources in the most efficient way possible and identifying ways to save money.


Potential tax savings.


A wealth manager can suggest tax strategies that will help you to reduce potential income tax, capital gains tax and inheritance tax liabilities. Any tax treatment mentioned is based on personal circumstances and current legislation, which is subject to change.


Assisting you understand your risk tolerances and ability to endure market volatility.


By working with you and your loved ones on a regular basis to understand, endure and overcome market movements and filter out many of the natural emotions associated with these times a wealth manager will assist you stay the course for better investment outcomes.


Ensuring that you have a plan for any of life’s uncertainties.


Ensure you have access to the right amount of money at the right time. Your wealth manager will ask you to consider a number of ‘what if?’ questions to ascertain whether you have planned adequately for the future. For example, have you really thought about what your retirement lifestyle will be like if you continue doing what you are doing now?


Finally, and perhaps most importantly, peace of mind and security.


Your financial affairs will be organised and kept up to date through regular reviews with your wealth manager.


As the personal financial world becomes more complex, particularly around pensions and taxation, lifetime allowances, annual contribution allowances, pension input periods, optimum withdrawal strategies, legacies for loved ones and our potential for living longer continues to grow we really do need to ensure that we give ourselves the optimum chances of financial success.  As you move into retirement your accumulated capital may have to provide income security for decades and how your money is managed and the way in which you withdraw income will be absolutely crucial to a secure retirement.


Having professional guidance and counsel in this period will be crucial.  Depending on how you, when and from which investments you withdraw capital can dramatically affect your levels of personal taxation which will obviously lead to better outcomes for those seeking and acting upon professional advice.


I am not saying that much of this cannot be achieved by individuals without advice but I do advocate for those who do not have the time or inclination to learn and understand the constantly changing rules and nuances of investment and taxation that one of the best investments which might be made for future financial security is to engage the services of professional wealth manager.


If you would like to hear more about our wealth management services please do not hesitate to call us on 0207 337 1390 contact us via email.  We would love to hear from you.



Lee Robertson, CEO

Lee is a Chartered Wealth Manager and is listed in the definitive Spears Wealth Management Index as one of the UK’s top 10 wealth managers and was named as the Asset Manager of the Year for High Net Worth Investors in the 2015 Spear’s Wealth Management Awards.  His uncompromising standards in private client wealth management means he is a regular contributor to the financial press and is often on television discussing wealth management and investment issues.


The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.

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