Wealth Management – What’s involved? 

Wealth management is quite a general term – and that’s because what’s involved depends on your individual needs. The idea behind wealth management is to explore ways to manage and protect your money over the long term.

What is wealth management?

Wealth management is a form of financial advice that looks at how best to grow and protect your money and achieve your goals in life. An experienced, qualified financial professional supports you with advice to plan for the future and make sure your money is working for you. 

Wealth planning can include investment advice, retirement planning, estate management, protection policies and long term tax planning.

How can wealth management help you?

Wealth management is about making sure you are investing your personal wealth in the most appropriate way to achieve your goals for the future. In the long term, it can grow your investments, reduce tax, minimise risks and prepare you for a comfortable retirement. 

Good financial advice will help you get the best out of life. 

What can we do for you?

Our financial advisers will explore your current situation, your goals and plans and build a bespoke plan to help you achieve them. Once in place, we keep a close eye on how your private wealth is performing. 

Typical areas we can help you explore include: 

1. Investments and Savings – Start an investment portfolio or review your existing investments and savings. We will compare a broad range of options, products and services for you. We recommend potentially profitable investment strategies to grow your money in line with your appetite for risk.
2. Pension Advice and Retirement Options – We will look at your personal circumstances and plans for retirement, to ensure you’re working towards a retirement that will make the most of your pension income and other assets. 
3. Estate Planning – Making sure that your loved ones are well looked after in the future takes careful consideration and commitment. We will design an integrated estate planning approach, making sure your assets are shared with the next generation in the most tax efficient way possible.
4. Protection – life insurance, private healthcare, critical illness cover and many other products are here to protect you and your family from the unexpected. 
5. Further services – Everyone’s situation is different and you may need further support to achieve your goals and resolve your challenges. We have a strong network of experienced professionals and can connect you with experts in all kinds of areas – from legal or business advice to specific tax support.

What’s involved in successful wealth management?

Managing your wealth isn’t just about finding suitably qualified financial services advisers. It requires long term, trusting relationships and professionals you have a good rapport with. Finding the right wealth management partner can take a while, but it is time well spent. You will be sharing many personal details with your chosen advisor, so make sure it is someone you feel comfortable with.

Once you find the right advisor, they will advise you on all aspects of financial security. This might include investment management, estate planning, retirement planning, tax, wealth protection and cashflow analysis. Many of our clients also seek support for their wider family’s wealth management and, in some cases, small business advice. 

As a client of First Thought Financial Planning you can expect regular and comprehensive reporting about the management of your personal finances, tailored to you as an individual investor.

We will also talk to you about your outgoings, such as mortgages, tax, education fees and long-term medical care. We explore the options to protect your wealth as well as grow it further.

How do I get started? 

Good wealth management is a long term process, and it pays to start your journey as soon as possible. We offer an initial consultation, free of charge, to explore your needs and financial goals and explain what we offer. 

We work with people from all walks of life to help them make the most of their assets, including high net worth individuals, small business owners, young families and experienced investors to achieve their aims. 

Get in touch today for an initial chat about how we can help you get the very best out of your finances and live life to the fullest.