Is A Wealth Manager Right For You?

Our wealth is often measured not just by money but also our possessions, which means they also have a value. Whether the assets you own is down to your career or your inheritance, preserving that wealth can be a daunting task. As wealth management professionals specialise in asset growth among other things, many people benefit from investing in experienced wealth managers.

From individuals to charitable organisations and corporate clients, Hedley & Co strive to assist all prospective clients.

Understanding How Wealth Management Works

Wealth management is the process that comes with making decisions about the assets in your possession, like financial investments, your tax and estate planning options, and other financial matters like stocks or pension investments. Some clients choose to make these decisions with a wealth manager to ensure their decision will help them achieve financial security.

Wealth managers are certified professionals. You don’t necessarily have to follow their advice but they’ll advise clients what the best steps forward are depending on their specific goals. Wealth managers often have a comprehensive list of services that they offer to clients regarding finance and they’ll give you advice and information on all the options your chosen service has to offer.

If you were in need of tax advice, for instance, then a wealth manager may provide you with advice on how to structure your finances, how you can minimise your inheritance tax liability.

One of the most common services of wealth managers is investment management. Experienced investment managers work with you, taking the pressure off, developing a strategy that’s tailored specifically to your goals. When exploring all the options with you, they will take into account your risk tolerances, too, so you don’t feel uncertain about the future of your finances.

Is Wealth Management Right For Me?

Wealth management isn’t for everyone and that’s not a problem. The decision to even reach out to a wealth manager completely differs from client to client.

Those who are more knowledgeable in finance, who also know their goals may be confident enough to choose their own strategies without any help. Conversely, those who perhaps are not experts in finance or just find themselves with more questions than answers might choose to contact a wealth manager. Some people reach out to a wealth manager after unexpectedly coming into a significant sum of money, for example after inheriting from relatives or from receiving compensation following a personal injury claim.

The input from wealth managers can assist clients to make an informed decision about their finances by providing guidance, advice, and exploring strategies. Plus, you might be advised by other consultants you work with such as accountants or solicitors whether a wealth manager may be able to help with your financial needs.

How Do I Choose A Wealth Manager?

There’s no right or wrong when it comes to choosing wealth management but there are aspects you should look for before any solid decisions are made. It’s important that the professionals you find are reputable, hold the right qualifications and can offer you the right expertise.

There are factors you should consider when choosing the right investment and wealth management firm:

1. Reputation

Always check out the reputation of a firm before you go through with your decision. You can ask around if the firm is local, otherwise there are databases that you can check to see the reputation of firms. The Financial Services Register (FCA) is a public record for firms and other financial bodies that have been authorised.

2. Clients

Previous clients will tell you quite a lot about a firm or financial body. It can be reassuring to know that they've helped clients who are in similar circumstances to you - you know they'll have the resources and knowledge to help you with your own financial needs and goals.

3. Services

Similar to how having clients similar to your position will be reassuring, you need to make sure they’re offering the service you’re after specifically.

4. Ethos

It will be challenging to follow the guidance and advise a wealth manager tells you if you don’t agree with their ethos. People gel best with others who are like-minded. It doesn’t have to be the specific ethos of the wealth manager, maybe rather the philosophy and values of the firm in general. If they don’t share the same values as you, look for one that at least has some in common.

Before you sign any documents, make sure you’re comfortable working with them. Remember, they’re responsible for helping you make decisions about your finances. Trust is essential. At Hedley & Co, we offer a free no-obligation consultation where we can discuss your investment options and tell you exactly how we can help you.

Hedley & Co

We are focused on sourcing investment solutions that are best suited for each and every one of our clients. Using the latest investment research and insights allows us to do this thoroughly. And efficiently. Hedley & Co has managed to build a track record for our clients that is solid.

In order to tailor our approaches to each client, we listen to their requirements and specific goals and create a personal, bespoke strategy. We can help you manage and make sense of whatever shares and investments you have, inherited or not.

We’ll be there every step of the way, providing advice or guidance. Financial matters can be incredibly daunting and stressful and that’s something we understand better than most.

Contact Us Today

If you would like to know more about the services we offer, don’t hesitate. Just get in touch. If you decide to book a free consultation with us, we will be in touch as soon as possible.

In the meantime, you can speak to one of our investment managers by calling us on 01772 887880 & 01254 699 333 or by emailing us via info@hedleyandco.co.uk.

Please note when investing in stocks and shares there is a risk of loss to capital and income. The value of investments can fall as well as rise and you may get back less than you initially invested. Past performance is not an indication of future performance.

Hedley & Co Stockbrokers & Wealth Managers is a trading name of Hedley & Company Stockbrokers Ltd who are Members of the London Stock Exchange and Authorised and Regulated by the Financial Conduct Authority under reference 471207 VAT No 741 1173 68

Registered in England and Wales, company no. 06355300. Our registered office is 19 Trident Park, Blackburn, BB1 3NU.