Find a Wealth Manager

Almost four out of every ten affluent professionals who come to work in financial services, and a substantial proportion of these are in investing banking.

So, why is having an expert wealth manager in place so important for investment bankers, and why are these busy professionals flocking to our service to find them?

The answer here is twofold. Investment bankers, perhaps more than any of the other professional segments we serve, are cash-rich, yet time poor. But as well as having highly-demanding careers, investment bankers need wealth managers who really understand what they do, how they are remunerated and what it is they need from a comprehensive wealth management plan – for themselves and their family.

It may seem counter-intuitive to the layperson, but those working within the industry will understand why investment banking professionals are often in urgent need of a professional wealth manager’s services. As the old adage goes, “the cobbler’s children often have no shoes”, meaning that while investment bankers are out sourcing prime investment deals for their firm, their own finances can sometimes fall into relative disarray.

Of course, the investment bankers using our service need no encouragement to invest, but very often they have accumulated a raft of investments over the years that are difficult to keep track off and which seldom constitute a well-diversified portfolio designed to deliver against well-defined financial goals. We often hear about long-forgotten ISAs, neglected SIPPs and a tendency for investment bankers to put financial planning slightly on the back-burner as they forge ahead with their careers – which is why we believe a more efficient and effective approach is resonating so well with this segment.

Heavy lifting

When it comes to managing your investments against a holistic financial plan, a wealth manager can take all the strain. From the nuts and bolts of scheduling ISA contributions and consolidating any pensions you may have, through to wider issues of tax-optimisation and inheritance planning, engaging a wealth manager is the surest way to make your wealth work as hard as you do.

But having a professional wealth manager on board is about far more than just delegating investment management and financial planning to experts in those precise fields, although few will mourn having the paperwork and time commitment these entail taken off their hands. Investment bankers are in an excellent position to leverage the full range of possibilities wealth managers hold out, and to benefit from these institutions’ broad and deep expertise.

For investment bankers seeking a high-value mortgage, a private bank is likely to be a far superior option, for example. As well as having an instant understanding of your earnings pattern (which is highly unlikely in a High Street provider) and more flexibility, a wealth manager may well offer a far more competitive mortgage rate. Indeed, many are willing to lend against a portfolio, meaning that you can put really put those stock options to work and access capital at a very attractive rate. You may not have to bother with a mortgage at all.

Meanwhile, investment bankers who are resident non-domiciled, or who anticipate periods working abroad, will find a wealth manager can play an even more invaluable role in wealth structuring and tax planning. With the goalposts on taxation constantly shifting, and multiple moves likely for many investment bankers, having tax specialists keeping an eye on developments in both your home jurisdiction and any others you may have interests is vital – particularly when achieving your financial goals may depend on a nuanced understanding of the interplay between several international regimes.

Whatever stage an investment banker is at in their career, and whether they have a family to consider or not, engaging a professional wealth manager is likely to be a very shrewd move. The kind of professional partnership this kind of relationship signifies can allow for as much collaboration or delegation as suits the individual client. What you can be sure of, however, is that a wealth management professional will understand exactly where you are coming from and what your unique needs as an investment banking professional are.

Where is professional advice when I need it? was designed with busy professionals like investment bankers in mind, allowing users to circumvent the hours of research that even those within the finance industry usually have to dedicate to finding the right provider for their profile. As such, it is a fast, free and above all effective route for investment bankers to find an easier way to manage their own wealth – so that they can get back to the serious business of creating more.

You can start the process of finding the right professional to manage your wealth by trying our smart online tool. Or, if you would like to discuss your situation further with our straight-talking team, please do get in touch here.