Key Takeaways

  • Wealth management services are not limited to investment advice, it can also cover retirement planning, school fee planning, complex mortgage services, and Tax advisory services
  • A Wealth management service can include specialist banking services such as Private Banking
  • To be eligible you must have an income of £100,000+, plus investible assets of over £250,000
  • Wealth management can be extended to specialist investment options, such as capital-protected funds

What is Wealth Management?

Wealth management offers a wide range of services that help high-net-worth individuals, but It's not just about investing. It also includes things like tax planning, planning for retirement, and school fee planning. It's all about managing and making the most of your wealth.

Looking For Financial Advice?

If you've recently come into a large amount of money, you may be wondering how to best manage it... Now is a good time to seek financial advice. Financial advice helps you to review your retirement, tax, and investment needs.
We can help you find a financial adviser to offer you the very best financial advice. Complete our Sunny Fact Find form to provide us a bit more detail about your circumstances and we'll find the best-suited adviser for your needs.
Your appointed adviser will contact you to discuss how they can help, you decide how to proceed. This service is free.

Wealth Management servicesWealth Management

Another Individual Wealth Management service provided is the use of Private Banking. Private banks offer perks to "Wealth" Individuals in order to attract them as a client. Private banking clients never have to wait in line or use a teller service. Anything you need can be done with a simple phone call. As a Private bank client, you will be appointed an account manager and complete just about any transaction, from cashing a cheque to moving large sums of money from one account to another.

There is also a more complex structured style of products that can be tailored to your needs. Structured products offer investors a known level of risk in return for a known exchange. There are three main structures to this, Capital at risk, capital protection, and deposit based.

The more complex needs of an affluent client will usually be met by an individual wealth adviser.

Wealth Management Eligibility

Wealth management advisers will work with individuals from all professional backgrounds. You could be working as an Entrepreneur, a lawyer, an accountant, or even have a non-professional background - such as a sportsman or musician. The limits set by wealth management firms do differ from firm to firm. Sometimes, if you have not yet reached the level of wealth required but display a potential ability to do so within the next 5 years you can still be considered eligible. 

Generally, a typical wealth management firm will work with clients who have investable assets of £250,000, or more. However, if your income is £100,000+ and you have savings that are short but still on track to reach £250,000 you can also be considered.

Using a Wealth Manager

Having a wealth manager won't generally change your basic financial requirements. However, sometimes you may have requirements that are slightly different from the norm. Having a Wealth Management service on your side will allow you to review bespoke solutions to your financial needs. Solutions that may not have been available otherwise. You can expect a greater level of service with Wealth Management. 

There can be a crossover with services offered between Financial advisers, who specialise in investment services, international wealth managers, who specialise in international client needs, and high net worth Mortgage advisers. A wealth management adviser will usually be able to assist with these services also.

Costs of using a Wealth Management Service

Most Wealth Management advisers will offer you an initial consultation for free. This is a chance for them to understand your needs and for you to be sure they are the right fit for you. During this meeting, they will establish how your current assets and investments are structured. They will then follow up with a bespoke plan on how to proceed. The follow-up with provide you with a plan which outlines a recommendation for you. As these plans are bespoke, charges can depend on what is being recommended. All charges will be made clear before you progress.

A service geared to affluent clients offering complex banking & financial services.

These services can include but are not limited to, Income and capital gains mitigation, retirement planning, school fees planning, venture capital trusts, and equity release.

Wealth managers will insist on a minimum level of wealth for some services they offer. However, this will not apply to all. It is best to find out more from the wealth advisers directly as this level will differ from adviser to adviser.

Wealth management takes the stress out of making uninformed financial decisions independently.

You can gain value from many services offered within wealth management. Wealth services are not limited to investment services. Services such as high-net-worth mortgages, and school fee management are available. 

Simply put, planning ahead to fund future school fee expenses for your children or grandchildren. The earlier you consider planning, the better. There are fund options based on your timescales and circumstances. Taking into account the Fee expected, the rate of inflation and expected growth an assessment of how to achieve this sum is discussed and arranged if appropriate.

Yes, whether funded through income or capital there are considerable tax benefits to School fee planning. A Financial Adviser will talk you through the options available.

These Structured funds predominantly invest in bonds, they do carry counterparty credit risk as the underlying issuer of the bond could default. However, the expectation is that you will earn an interest payment and upon maturity your funds will be repaid. The objective is to safeguard the investors funds.



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