What makes a successful wealth management strategy?

Have you taken steps to manage and protect your assets adequately? A sound wealth management strategy can help ensure your money and other assets work for you and continue to grow.

What is a Wealth Management Strategy?

Wealth management is a combination of financial structuring and investment services to help you with planning, structuring, and managing your assets.

A successful wealth management strategy is centered around your lifestyle, needs, and financial goals and is developed by you, alongside an experienced financial adviser or wealth planner.

A sound wealth management strategy should include the following:

• Wealth planning: Uses cashflow management to consider your financial goals and needs at every stage of life. This allows you to protect your wealth, access it as needed, and leave a lasting legacy for your family.
• Investment management: Intends to help you grow your wealth by carefully balancing investment performance against risk.

Read: How much of my wealth should I invest

Wealth Planning

A wealth management strategy starts with wealth planning. That means setting financial goals for the short, medium, and long-term. You and your adviser will discuss what you need now and what you will need in the future. This empowers you to create a plan aligned with your needs as they change.

You will work closely with a wealth planner, giving them the insight that allows them to develop a holistic wealth management strategy that is specific to your needs. This includes your family and business needs, tax efficiencies, and more.

Investment Management

Once you have set your goals around your financial needs and future aspirations with your wealth planner, an investment manager can help you make informed decisions about investing your money with the aim of delivering consistent returns. Arbuthnot Latham’s discretionary portfolio management services help you to build a diversified investment portfolio and take advantage of opportunities that align with your goals.

Read: What is investment management

The Benefits of Choosing a Tailored Wealth Management Strategy

Ultimately, the goal of wealth management is to allow you to enjoy the life you have worked hard to build with peace of mind that your financial needs are being taken care of. A successful wealth management strategy should be designed with the following benefits in mind:

• Improved financial security
• Growth in line with your risk appetite
• Control and choice over your assets
• Support during significant life changes to ensure your financial ambitions remain aligned to your personal goals
• Preparation for retirement and longer life
• Wealth transfer
• Expert financial advice

Working with a professional adviser to create the right wealth management strategy will help you to feel in control of your finances and provide a level of financial stability for future generations.