There are four key stages in wealth management accumulation, conservation, drawdown and estate preservation.
During the wealth accumulation stage it is important to seek out suitable returns within your risk tolerance and shielded wherever possible from tax. There is normally a balance to be met between risk and the length of time you have to invest. Long-term cash based investments can prove to be as risky as shares. See Investment Principles.
If you have come into money, an inheritance, company sale or are near or at retirement, it is likely that wealth conservation will be important to you. Your risk profile will probably be very different as are your investment aims. We may need to move money from an investment strategy of accumulation to conservation over time to ensure you don’t suffer from large market swings at the wrong time.
When you need to live off the money during the draw-down phase, income will be your main driver. The timing of this income can be as important as the amount. It’s not particularly helpful if all of your income arrives in a lump sum once a year. We can help structure your investments to provide a regular income to suit your needs whilst looking for continued opportunities for growth and helping preserve your capital.
The final phase to look at, which is relevant to all three stages is estate preservation. You want your money to be passed to your partner and/or dependents on death with the tax man getting the smallest share possible. Estate planning is a science and does not have to be overly complex. Sometimes the best solution is to look to insure the tax and sometimes a combination of changes to your will, gifts and trusts will be the answer.
Whichever phase you’re at and whatever your financial goals, we will help you find and implement the right financial strategy for you and constantly review it based on your changing circumstances.
It is our aim to simplify your financial life.
Financial Advice... pure and simple
Chase Smythe provides financial advice and planning, in plain English, to people who want to ensure they make the right financial decisions at the right time and at the right cost. It's simple!