This is our premium service which we make available to our most affluent clients. Our clients engage us to help them make informed decisions to solve their most pressing financial challenges. We have identified five major concerns:
Above all else, our clients are concerned about losing their wealth. Despite their wealth, they are not immune to financial setbacks. But wealth preservation is not only about not losing money—it’s about having enough money to fund their lifestyles, whether simple or extravagant.
The goal of wealth preservation is to produce the best possible investment returns consistent with the client’s time frame and tolerance for risk. This is the primary area of focus for most financial advisers. As a wealth manager, investment management will be only the foundation of the value that we provide to our affluent clients. We will also help them to address their other four key financial concerns:
Wealth enhancement is about tax mitigation: minimizing the impact of taxes on clients’ investment returns while ensuring the cash flow they need.
We have seen that mitigating incomes taxes is one of the major financial concerns of the great majority of affluent individuals and families. Mitigating estate taxes and capital gains taxes also ranks high on their list of concerns.
It’s no surprise that so many affluent share these tax-related concerns. Taxes can—and do—eat up a great deal of wealth. As a wealth manager, we help your clients enhance their wealth by minimising this impact.
Effective wealth transfer is all about taking care of heirs: finding and facilitating the most tax-efficient way to pass assets to loved ones in ways that meet the client’s wishes with minimal difficulty and cost.
Given the fluid nature of today’s tax environment, affluent families need to be proactive in their wealth transfer planning efforts if they truly want their wealth to benefit their heirs to the fullest extent possible. As a wealth manager, we help them do so.
This includes all concerns about protecting the client’s wealth against catastrophic loss, potential creditors, litigants, children’s spouses and potential ex-spouses and identity thieves—in short, ensuring that their assets are not unjustly taken.
Many affluent individuals are worried about being sued—not surprising, given how litigious our culture has become. This means that as a wealth manager, we need to address controlling risks through business processes, employment agreements and buy-sell agreements, as well as restructuring various assets and considering legal forms of ownership—such as trusts and limited liability entities—that will help reduce the capacity of creditors and other parties who may seek to take our clients’ wealth.
Many affluent individuals are looking outward beyond their own families to the world at large. For these people, making meaningful gifts to charity in the most impactful way possible is a key issue.
Charitable giving comes with its own unique set of challenges—from selecting the appropriate means of giving (such as direct gifts, donor-advised funds or private family foundations) to selecting causes and specific organisations that will have the biggest impact. As a wealth manager, we help our charitably-minded clients to navigate the charitable planning process.