Wealth Management

Wealth Management

Wealth Management

For most people, Wealth Management means that they go to see their IFA on an annual, at best, or even less often, to discuss how their funds have done. But, Wealth Management should be much more than simply putting money into pensions or investments. A regular standing order going out to a fund managed by a mega corporation is not really managing your wealth.

What you need to do is bring all of your sources of wealth together into a single plan. This may even mean being proactive about what you might inherit as care home fees are potential very expensive.

What should it be about?

Wealth Management should be about making sure that you have enough money (cash) available to do all of the things that you would like to do. How you manage this is up to you. But if you really want to retire soon, then you will need to make some decisions about what you are doing now , your attitude to risk and the future.

Our preferred Wealth Management strategy is to look at what you have now and what likely inflows and outflows you will have in the future to project likely levels of wealth, as well as cash, in the future. By projecting expected costs into late old age, you are able to map out your wealth and cash flow requirements and what you will need to have to be able to retire at any given point in the future. You can plan for:

  • Income increases
  • Lifetime events (e.g. school fees, marriages, etc.)
  • Inheritances
  • Business sales
  • Fund growth
  • Legacies

You may need to plan to convert non-cash assets into cash at key points. This may include the downsizing of your home to release equity or the sale of your business. By knowing that his needs to happen to complete the plan well in advance, what may be painful decisions will be easier.

My business is my pension

Business owners rightly see their business as part of their assets and this is an area that we can work with you on our Profit Plus Programme to enhance it’s value and develop an Exit Strategy so that it reaches it is an attractive proposition for a purchaser. A business can be a source of income and capital, so the ultimate disposal needs to be planned carefully.

For some individuals, by proper Wealth Management they can be in the fortunate position that it becomes clear that they may already have accumulated enough wealth. By being aware of this position, you can decide to retire early or make gifts to their family or charities. Of Course by planning you can make sure that you have your wealth in a mixture of investment that are both liquid and longer term to suit your future.

Part of Wealth Management is also planning to ensure that you make the best use of your allowances and reduce your exposure to Inheritance Tax and increasingly the possible costs of care home fees, both for you and your relatives.

By drawing all areas of your life together, you can make a real effort to manage your wealth so that it gives you and your family the future that you want.


Call Brian Russell to discuss your Wealth Management needs on 01661 872004.