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Wealth Management – What does it involve?
We’re often asked what wealth management means in practice – and it can vary depending on your individual needs. If you feel that you would benefit from advice on how to manage and protect your money, wealth management is worth exploring.
What is wealth management?
Wealth management is a process where you seek advice on how best to grow and protect your money and achieve your goals in life. It’s a tailored and ongoing process designed to support you as an individual to make informed decisions and financial plans for the future.
Investment advice, retirement planning, estate management and long term tax planning can all come under the banner of wealth management.
How can wealth management help you?
The main purpose of wealth management is to ensure that the money you are investing will achieve your goals for the future. In the long term, it can grow your funds, reduce your tax liabilities, minimise your risks and help you prepare for a comfortable retirement.
The right financial advice can be invaluable in helping you make the most of your life. An important element of investment strategy is in exploring products and services that will suit you and your circumstances. It is also important to regularly review assets under management to ensure that you are getting the best from your financial planners.
What do CT Wealth Management do?
Our team of financial advisers will explore your goals and current situation, and build a bespoke plan to help you achieve your aims. We then keep a close eye on how your wealth is performing. Typical areas of focus will include:
- Investments and Savings – Create a new, or expand upon an existing investment portfolio to support your financial circumstances and goals. We provide tailored advice and can introduce you to worldwide investment opportunities from the UK’s leading investment managers.
- Pension Advice and Retirement Options – We offer personal, professional advice about your individual financial circumstances and plans for retirement, to ensure you’re working towards a retirement that’s right for you, your income and assets.
- Estate Planning – Many of us want to pass on our wealth to the next generation. Ensuring that your loved ones are well looked after for the future, takes careful consideration and commitment. We work with you to create an integrated estate planning solution, preparing your assets in the most tax efficient way possible.
- Additional Services – We can also connect you with other experienced professionals for anything you require, from legal advice to specific tax support.
The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.
What’s involved in successful wealth management?
Wealth management isn’t just about finding suitably qualified financial advisers. At the heart of the support you need, is excellent personal service and rapport. You should aim to build a long-term relationship with your adviser or team of advisers. You can expect regular and comprehensive reporting about the management of your personal finances, tailored to you as an individual investor.
A full wealth management service will include advice on investment management, estate planning, retirement planning, tax, wealth protection and cash flow analysis. You can also seek support for your wider family’s wealth management.
As well as your assets, wealth management will consider your outgoings, such as mortgages, tax, education fees and long-term medical care. More often than not, you should look for support with wealth protection as much as wealth generation.
How do I get started?
Good wealth management is a long term process, but the most important step is to start your journey. We will offer an initial consultation, free of charge, to explore your needs and financial goals.
At CT Wealth Management we work with people in all walks of life to help them make the most of their assets. We support small business owners, young families, high net worth individuals and experienced investors to achieve their aims.
Get in touch today for an initial chat about how we can help you maximise all the opportunities that life brings.