As a tumultuous year draws to a close, our users are pondering market timing and whether size matters in a wealth manager, with many also showing signs that they want to steal a march on their new year resolutions.
Bracing for another busy Christmas
The number of people completing our matching questionnaire is already rising: the seasonal uptick we see each year is down to a combination of extra free time, perhaps an element of ‘twixtmas’ boredom and a sense that the new year – and resolutions time – is coming up fast.
It often surprises people to learn that the Christmas period is a really busy season for us here at findaWEALTHMANAGER.com, but actually it shouldn’t be when seen in the context of the fact that each year thousands of people opt to do their tax returns online on Christmas day, according to HRMC.
Finally sorting out nagging wealth management issues is at the top of many people’s to-do list and starting the new year with something weighty already ticked off, or at least started, is a great feeling, we hear
Finally sorting out nagging wealth management issues is at the top of many people’s to-do list and starting the new year with something weighty already ticked off, or at least started, is a great feeling, we hear.
We always advocate that ‘sooner rather than later’ should be your maxim with managing wealth. If you would like to harness some new year energy early this time, simply use to get started.
Timing the market or time in the market?
The question of how to time the bottom of a particular market, and even if that is possible with any reliability at all, has loomed large in recent conversations, as incredible instability sadly continues to be a global theme.
While investors should certainly consider taking advantage of falls to add to their positions if that fits their wealth plan, the standard advice is that it is upping time spent in the market, rather than attempting to successfully time the market, which is the better strategy. The reason is simply compounding returns, combined with the cost of constantly chopping and changing your portfolio.
With a professional wealth manager in your corner, you can strike a balance between opportunistically buying undervalued assets and sticking to a disciplined investment plan
With a professional wealth manager in your corner, you can strike a balance between opportunistically buying undervalued assets and sticking to a disciplined investment plan. And, if you have a discretionary investment management relationship, you can empower your adviser to make lightning-fast decisions on your behalf so no opportunities get missed.
Top Tip
Each year has been more chaotic than the last recently, and few people will look towards 2024 without a degree of trepidation, although hope springs eternal for happier times globally.
Unprecedented economic and geopolitical strife has been making the investment landscape incredibly difficult to read as things seem to change literally day to day (if not sometimes hour to hour) and this has had the effect of many people considering professional wealth management for the first time.
Being able to set people up with advisory relationships to help them navigate and get piece of mind is the best part of my job. We can set up meetings with a shortlist of best-matched providers fast and free if you already know which kind of relationship you seek.
Alternatively get in touch for an informal chat so we can work out exactly what you need.
Lee Goggin
Co-Founder
Right-sizing becomes a real focus
Users have been increasingly interested in the concept of ‘right-sizing’ when it comes to selecting a wealth manager, no doubt fuelled by recent media coverage comparing the UK’s largest firms and – often with full breakdowns of fees and charges.
Many of our recent conversations have been focused on what the optimum size of wealth manager is for clients of various profiles, and this has been mentioned both by newcomers to the industry and those who are longstanding clients looking for a change of provider. We often see people changing from a boutique to a bank-owned global wealth manager – and also vice versa – as part of seeking a refreshed approach.
We often see people changing from a boutique to a bank-owned global wealth manager – and also vice versa – as part of seeking a refreshed approach
We will soon publish a more detailed discussion of this issue, but the truth is there is no right answer to the question of whether size matters in absolute terms. The important thing is that the institution can do everything you need at the level of assets you wish to invest, and size is often no indicator of that; indeed, assets under management can be huge even when firms themselves are small. Let us help you navigate and filter the market so you can quickly compare providers side by side.
A new year, a new wealth management plan?
We would like to take this opportunity to wish all of our users and readers a fantastic holiday season and a very happy new year. We have enjoyed all of our interactions with our growing community of over 10,000 HNWIs and we look forward to welcoming many more in 2024.
Let us take the strain of filtering the market and remove one barrier to change. Use our unbiased matching service and you can devote your energies to choosing from a short list of providers, rather than having to construct that shortlist from scratch.
Important information
The investment strategy and financial planning explanations of this piece are for informational purposes only, may represent only one view, and are not intended in any way as financial or investment advice. Any comment on specific securities should not be interpreted as investment research or advice, solicitation or recommendations to buy or sell a particular security.
We always advise consultation with a professional before making any investment and financial planning decisions.
Always remember that investing involves risk and the value of investments may fall as well as rise. Past performance should not be seen as a guarantee of future returns.
