Home » Finance » The Different Types Of Wealth Management Services

The Different Types Of Wealth Management Services

The Different Types Of Wealth Management Services

Wealth management is a process whereby financial advisers work with clients to grow and protect their wealth. This can involve a number of different services, from investment planning and portfolio management to tax advice and estate planning. Here we take a look at some of the most common wealth management services offered by financial advisers.

Investment Planning

One of the most important wealth management services offered by financial advisers is investment planning. This involves working with clients to identify their investment goals and then developing a plan to help them achieve these. This will usually involve selecting the right mix of investments, such as stocks, bonds and property, and then monitoring and rebalancing these on a regular basis.

Portfolio Management

Once an investment plan has been put in place, the next step is to implement it. This is where portfolio management comes in. Portfolio management involves making sure that the investments in a client’s portfolio are performing in line with their goals. This can involve making changes to the mix of investments, as well as buying and selling individual assets.

Tax Advice

Another important wealth management service offered by financial advisers is tax advice. This involves helping clients to minimise their tax liability, both in the short and long term. This can involve a number of different strategies, such as using tax-efficient investments, claiming tax reliefs and allowances, and making use of tax-efficient wrappers, such as ISAs and pensions.

Estate Planning

Estate planning is another important wealth management service. This involves putting in place plans to ensure that your wealth is passed on to your beneficiaries in the most tax-efficient way possible. This can involve a number of different strategies, such as using trusts, making use of gifting rules and writing a will.

These are just some of the most common wealth management services offered by financial advisers. If you are looking for help with growing and protecting your wealth, then it is worth speaking to an adviser to see how they can help you.

You May Also Like

About the Author: Linda Clevenger

Leave a Reply

Your email address will not be published. Required fields are marked *