A re-introduction to wealth management

As many of our clients are aware, wealth management is one of the services offered by Gerald Edelman, but we often get asked questions as to what exactly wealth management is all about.

Wealth management is effectively an investment advisory service that combines many different financial services to address the needs of our clients. Using a consultative process, we will obtain additional information about our client’s wants and needs as well as any specific circumstances.  Following the obtaining of such information, we then prepare a tailored personalised strategy to meet the aspirations and desires of each individual client and, where applicable, those of their families as well.

Often a holistic approach is taken within wealth management and may well include a range of services such as investment advice, estate planning, protection, retirement, and, of course, taxation services.

Wealth management is much more than just investment advice and encompasses all parts of our client’s financial life.  We find at Gerald Edelman that instead of attempting to integrate pieces of advice (including various products) from multiple professionals, our clients are more likely to benefit from an integrated approach.  In this way, a wealth manager may coordinate the services needed to manage our client’s assets along with creating a strategic plan for their current and future needs.

In order to provide such a service to all our clients, we will be bringing in as part of the GE team, wealth managers who will work with the partners to deliver a more integrated approach to wealth management including lifestyle financial planning which is all about managing your resources particularly, money and time, to get the most out of life.

Most people spend a great deal of time trying to earn and make money without necessarily stopping to consider how their financial assets can be put to work or restructured to create the lifestyle that they really desire.  This often leads to posing some fairly fundamental questions with regard to individual clients’ needs and priorities.

Some of the specific areas that we can be of assistance to our clients are:

• Financial Reviews: establishing a well-informed overview of your current financial position against your financial aims and objectives
• Cash flow modelling: assisting in planning for various scenarios with the objective of identifying and ultimately achieving financial goals
• Tax-incentivised investment options: maximising tax efficiency to both protect and enhance capital and, where applicable, income
• Retirement planning: structuring retirement planning to maximise potential income to include pension income as well as funds from other sources
• Family matters including divorce: advising on issues that have an impact on your financial assets and outlook including business assets and identifying what actions are taken
• Protection: ensuring that the client’s dependents and other family members have the continuing financial resources to maintain their standard of living after the premature death of a key family member
• Inheritance tax planning: undertaking advice to mitigate inheritance tax whilst maintaining the financial objectives

Watch this space for more news with regard to our own enhanced plans on GE’s wealth management offering including our new team members.