Why use Private Wealth Manager (PWM)?

Financial planning and advice is not just for the very wealthy – everyone can benefit from it. Good financial planning can help you achieve your future goals and aspirations and secure you and your family’s long-term future. Here are some reasons why you should speak to a PWM.

No 1: To protect your loved ones

Many people trying to sell financial product of one type or another but a Private Wealth Manager can tell you which one is best suited should the unthinkable happen. A Private Wealth Manager will assess your position and guide you through the best options to protect yourself and your family whether you are single, married, have children or they have long left home. Whatever your needs, a Private Wealth Manager can help ensure personal tragedy does not turn into financial crisis.

No 2: To help plan your spending and saving

To secure your long-term financial future, you need to build some assets, initially to get you through the rainy days and then to pay for those holidays and luxuries. So, step one is to plan your spending so that you can begin to save – and step two is to plan to save so you can build your wealth as efficiently as possible. Regardless of whether you currently have $10 or $10,000, a Private Wealth Manager will look at your situation and find the best starting point for you.

No 3: To help you plan for retirement

Once your short term saving needs have been met, you are then in a position to start thinking about your longer term goals. People are becoming more aware that they cannot rely on the Country for more than the absolute basics. However, planning for retirement is a complex business and there are many different options available. Overseas pension schemes have come a long way in terms of flexibility in recent years and now offer a wide range of investment options. A Private Wealth Manager will not only help sift through the many rules and product options but can also help construct a portfolio to maximise your long term prospects.

No 4: To help you achieve your dreams

As you progress through life, you begin to build your assets and your income begins to increase. You then start considering how you can enhance your position rather than simply consolidate it. This could mean anything from looking to retire early through to paying school fees for private schools or investing in overseas property. However your dreams evolve, a Private Wealth Manager can help assess what is realistically possible and put the best plan in place to help you achieve it.

No 5: To find the right combination of assets

Investment is as much about protecting the potential downsides as it is about targeting maximum growth. High returns are often associated with high risk and not everyone is happy if their investment falls by a third or more overnight. A Private Wealth Manager will make a detailed assessment of your attitude to risk before making any recommendations. They will also ensure you don’t put all your eggs in one basket by helping you diversify not only across asset classes but also across accounts, individual funds and product providers.

No 6: To obtain an objective assessment

Every new product or investment opportunity is accompanied by hype, proclaiming it is the best ever but that does not mean it is right for you. Investors the world over have been and will continue to be caught out by market bubbles or high charges because they don’t take a step back. A Private Wealth Manager knows how products and assets work in different markets and can outline the downsides for you as well as the benefits. Between you, you can then make a more informed decision about what hype you can believe and what products you really need to avoid.

No 7: To keep you on track

Even when you have every product you need taken care of and your investments are set up and running to plan, someone needs to keep an eye on them in case changes in markets or abnormal events push them off course. You can ask a Private Wealth Manager to do this monitoring work for you. They can assess the performance of individual investments against their peers, ensure that your asset allocation does not get distorted as markets move and also help you consolidate gains as the dates of your ultimate goals approach.

No 8: For peace of mind

Money is a complicated subject and there are many things you need to think about to both protect it and make the most of it. Markets are volatile and the media is prone to exaggeration of both the risks and the rewards. Employing a professional Private Wealth Manager can take the emphasis away from you and move it into the hands of an expert. Whether you need general, practical advice or a specialist with dedicated expertise, the money you invest in taking advice could be paid back many times over in the long term.