Find a Wealth Manager

Many people think they don’t qualify for wealth management services, when in fact, they fall well within the range where professional help with their finances is warranted.

It’s of course to be expected that what constitutes “wealthy” changes over time. People used to aspire to being a millionaire, but research that most people today would need £10m to consider themselves wealthy today.

Ironically, however, you are almost certain to need a wealth manager well before building up £10m in assets. Furthermore, reaching the level of wealth you are targeting – in the timeframe you wish – may well depend on you engaging a professional adviser earlier than you might think. Engaging a wealth manager can make all the difference in meeting your financial goals – whether that be for your investments, retirement planning or tax efficiency (or maybe all three).

The institutions on our panel cater to all levels of wealth, from those who might consider themselves as “comfortable” through to the ultra-high net worth, and everyone in between. Many people therefore wrongly believe that they don’t qualify yet, despite the fact that they may already meet the criteria for several of the providers represented by Some will work with those with just £50,000 to invest as a starting point.

So, while you may not feel “wealthy” just yet, that doesn’t preclude you from exploring what wealth management could do for you – whether you have existing investments or you are completely new to investing. Here are five key signs you should explore what a professional financial adviser could do for you:

You need help with retirement planning

You might be just starting off in your planning, approaching the pension contribution limit or nearing retirement itself, and so need advice on how to make the most of your savings.

The Pension Lifetime Allowance (the overall amount of pension savings that you can have at retirement without incurring a tax charge) which now stands at £1m, poses particular problems for affluent individuals. Lots of savers could be sleepwalking into exceeding this limit. Figures suggest a pension pot of £72,000 could compound to breach the limit in less than 30 years, even if no further contributions are made.

On the plus side, this means those who managed to build up a significant sum of money by their 30s could have a portion of their retirement income catered for – if managed well of course. But there are other ways to build retirement security, and a wealth manager can explain how these work.

You no longer want to be a DIY Investor

You may have made a great success of being a DIY investor, but now find it’s tricky keeping track or too much of a worry managing a substantial sum.

Some say a “good” portfolio can be constructed from as few as 15 stocks, but many investors’ portfolios will have become far more complicated over the years. Just keeping track can be real chore, and that’s without factoring in diversification and risk management requirements.

A wealth manager will give you a comprehensive overview of your investments and how they perform. They can then manage them in line with your short, mid and long-term objectives and risk-profile (or at least offer a strategic asset allocation suitable for your needs).

You want to start investing strategically

Maybe you’ve come into money or feel that your savings aren’t working hard enough, so you’d like to get started with a solid investment strategy.

People tend to exhibit a home bias in their investment behaviour and often focus too much on asset classes like cash and property. But you have to look further afield to diversify your investments to maximise your returns – and minimise risk.

Also, though stocks and bonds are where most people feel comfortable, alternative asset classes like hedge funds, private equity, commodities and real estate could all be appropriate. A good wealth manager will help you access the entire investment universe to maximise your wealth.

You feel you are paying too much tax

Your tax bill might have started to really bite, or you feel like there are tax-efficiencies you aren’t making the most of.

Tax planning is an essential part of preserving your wealth, be it Income Tax, Capital Gains Tax or Inheritance Tax. Everyone knows about the tax advantages of ISAs and pensions (and should be using them), but there are lots of other strategies a wealth manager can recommend to minimise your tax obligations.

In fact, the government offers compelling tax incentives on certain investments – like Enterprise Investment Scheme vehicles and Venture Capital Trusts – which can keep your tax bills as low as possible.

You could benefit from broader, better wealth advice

Perhaps you have taken some wealth advice, but aren’t getting the results you want or feel you need an adviser who better understands your long-term goals.

Affluent individuals often fall into the “time-poor, cash-rich” category. Having an adviser who knows your financial situation and goals – and who has taken the time to understand your risk-profile – can be invaluable.

Most wealth managers will appoint a dedicated relationship manager who can stay with you over the years, providing tailored advice when you need it.

There are, of course, a whole host of other triggers bringing affluent individuals to We commonly encounter, among other situations:

  • Entrepreneurs who have just sold a business (or who are looking to)
  • Those who have recently come into money (such as through inheritance or divorce settlements) and need to put that wealth to work
  • Parents who need a plan for meeting ever-rising school fees
  • Families seeking ways to mitigate Inheritance Tax and maximise wealth
  • Investors who are dissatisfied with the returns or service they are getting from their existing provider, or who believe they may be paying fees that are too high

Wealth managers are used to dealing with individuals and families in all kinds of situations, so there’s sure to be one that can help you achieve what you wish to – whether you simply need help with one portfolio of investments or need a holistic investment management and tax/estate planning strategy encompassing several generations.

If you are unsure if you need a wealth manager, simply ask yourself this question: “Is my money working as hard as it possibly can?”

If the answer is anything other than a resounding “yes”, then that means you could almost certainly benefit from some professional advice.


Explore what a wealth manager could help you achieve

Guiding affluent individuals through the process of choosing the very best wealth manager for their needs is our business, and we would be happy to answer any questions you may have on what our partners have helped people just like you achieve.

To get started finding the right wealth manager for you, simply take our short online questionnaire. Alternatively, contact our expert team, who are always on hand to talk you through your options