Many of our clients have accumulated wealth over many years. This may be in the value of the business, property assets or savings and investments.
All of these elements have a different risk profile and require careful management. If the investments are in a National Savings Account, then the risk is negligible, as are the returns. The business may be at risk from bad debts, recession or of course a pandemic!
Our role is to assess all the elements of our client’s wealth and to consider the key risks.
We then look at appropriate protection options such as a more complex business structure, difference ownership of certain assets or possibly just suitable insurance protection.
As clients get older two things happen. Firstly we often see that wealth grows faster in later years as debts are paid off and financial costs reduce. Secondly, the ability to suffer a loss and rebuild wealth reduces as they have less time to do so. It is therefore critical to understand what wealth you have, where the risks may be, and all of the options for protecting against those risks.
If the advice seems right for the client, we can then help implement the necessary changes.
If you are concerned about your financial future, why not have a Wealth Protection review.