Wealth Management Explained
What is wealth management (and how does it differ from financial advice?) is a question we get asked regularly by potential clients. The answer is at once simple and complex. Simply put, wealth management advisors use a combination of financial planning and investment strategy with the aim of growing and sustaining their clients’ wealth.
Explaining wealth management becomes more complex when we try to demonstrate the personalised nature of our work. Every Harpur Wealth Management client is provided with a suite of services that are selected on the basis of their individual goals, appetite for risk, current financial situation and age. These services may include appropriate financial products/solutions, investment management, retirement or estate planning.
Who Uses Wealth Management Consultants?
The use of the word ‘wealth’ can be off-putting to people. It could sound as though we’re limiting ourselves to high-net-worth clients. In fact, that’s not the case at all. Many of our clients are owners of small businesses, couples wanting to plan their retirement, or families who want to fund their children’s education.
Harpur Wealth Management can benefit anyone who has a clear financial goal they want to pursue. We help by creating a financial plan that will take you from where you are now to the successful achievement of your goals. Wealth management is capable of turning your ‘dream’ retirement into a reality that is carefully planned step-by-step.
When Should You Work With a Wealth Manager?
Harpur Wealth clients fit no particular profile, nor do they approach us at any specific period of their lives. Some of them are in the process of setting up a new business; others are approaching retirement. What is true of every single one of them is that they are looking for support in achieving their financial goals. Here are 3 ways wealth management works in real life:
1. Selling Your Business
The sale of a successful business can yield a handsome profit, but how do you ensure that it continue to work for you in this new chapter of your life? A wealth manager can provide both practical and strategic advice from the moment you decide to sell. We’ll listen to your post-sale goals and create a strategy structured to support them.
2. Post Divorce Finances
A divorce is always a difficult time emotionally, but it can also fracture carefully organised financial plans. Often the post-divorce phase is a time of reconstruction as you take stock of your assets and consider your changed financial future. A wealth manager can help you through this difficult period and ensure that you feel in control of your finances once more.
The loss of a partner is a terrible burden to bear. Having to cope with arranging their financial affairs on top of this can feel overwhelming, especially if they’ve been the one to manage money throughout your relationship. A wealth management consultant can help to assess your finances and make plans to ensure that your financial future is secure.
Working With Harpur Wealth Management
Clearer about the ways in which wealth management could work for you? The team at Harpur Wealth aims to form long-term professional relationships with our clients in Bedfordshire, providing trusted advice at every stage of your life. Your wealth management advisor will work closely with with you in the early stages, and then schedule regular review meetings.
New to wealth management? Why not book a free consultation with one of our advisors today? Call us on 01234 924620, or contact us online for a prompt response.
This article is for information only and must not be considered as financial advice. We always recommend that you seek independent financial advice before making any financial decisions.
The value of your investment can go down as well as up and you may get back less than the amount invested.
‘The Financial Conduct Authority does not regulate taxation advice’