Wealth management – it pays to make the right choice

Making the right decisions for your financial future is amongst the most important you’ll ever make in life. Not only can financial decisions have a profound effect on your short, mid and long-term goals, aspirations and outlook – they ultimately affect your loved ones too, now and into the future.

With this in mind, choosing the right wealth management company to advise you and look after your unique circumstances is critical to your ongoing prosperity.

Here are eight questions you should be asking when exploring working with a wealth management provider.


Are the services they provide the right fit for what I need?

There are a number of services a wealth management company can provide a client and it’s important to know what expertise and specialist knowledge you can tap into. For example, Wills & Trusts provide financial advice services not only for the here and now but even after you have gone; such as ensuring the wealth you have accrued goes to the right people.

Do the areas of expertise vary between wealth management companies?

Some wealth management companies may have more experience working in business finances rather than personal, or vice versa, and may or may not be the best choice for you – it’s all about your requirements. Wills & Trusts build relationships and understand specific circumstances, for example, the company works with families – many of whom have been with the firm for generations – and understand the importance of safeguarding the future financial security of a family.

Are there any restrictions on what a wealth management company can offer?

While some wealth management companies will offer a comprehensive advisory service, it’s important to know that some companies may offer restricted services – such as only recommending certain financial products and providers. Research is key to ensuring a wealth management company can cater to your specific needs.

Can I receive ongoing advice?

A good wealth management company will know that personal circumstances and financial situations change and that ongoing, tailored advice is crucial in ensuring the service you’re receiving is relevant, still suitable and in your interests in the short and long term.

Will I have a dedicated adviser and is this likely to change?

Good advisers spend a lot of time with clients and on developing long-lasting relationships. As there are only so many hours in the day, a good wealth management company will have a team of experienced, qualified paraplanners to answer any queries should your adviser not be available at any given time.
Wills & Trusts are one of only a few wealth management companies in the UK whose paraplanners are fully qualified to ensure complete understanding of the client’s needs when a financial adviser is unavailable — with clients assured that any actionable advice will always be given from their dedicated financial adviser.

How much will I be charged for wealth management services?

Financial advice from experts can bring incredible benefits and as such doesn’t come cheap, so it is crucial to identify the best fit for you – for example, a restricted adviser may help formulate a financial plan without you having to pay a fee upfront.

Are there different investment approaches?

It’s important to know what due diligence your potential financial adviser takes, that they are working in your very best interests and that they communicate options clearly and impartially. At Wills & Trusts, our team practice what they preach – recommending the same investment options and strategies they invest into personally.

Am I able to see a sample financial plan?

If you’ve never had professional financial advice, you may not fully understand how your financial adviser can help you. A good wealth management company will understand this and illustrate a proposed plan in a way that will help you find the most appropriate advice and way forward.

Wills & Trusts is a highly regarded, award-winning independent financial planning organisation with over 20 years’ in the industry. We pride ourselves on getting to know our clients and providing them with first class, ongoing financial advice.

Paula O'Reilly

July 16, 2019