As you consider your financial future, you may be wondering what the difference is between wealth manageent and a financial planning - and which might be the right fit for your needs.
Historically, wealth management was viewed as a service primarily for the very wealthy, addressing extensive financial needs like asset protection, estate planning, and long-term wealth preservation. However, as financial needs have evolved, so have the solutions available to manage them.
Today, the principles of wealth management are accessible to a much broader audience. Many people, regardless of wealth level, can benefit from a comprehensive approach to their finances, especially for major life goals like purchasing a home, planning for retirement, or building a legacy.
As a result, the traditional term of a wealth manager is now more commonly known as a financial planner.
Many people, regardless of wealth level, can benefit from a comprehensive approach to their finances
Traditional vs modern
Both wealth management and financial planning focus on achieving financial security and growth through a holistic, long-term strategy. However, wealth management traditionally catered to individuals with significant assets, providing not just investment guidance but also support with tax efficiency, estate planning, and risk mitigation. Modern financial planning now encompasses these same elements.
This shift means that financial planning is now more accessible, tailored to individual goals, and suited to a variety of life circumstances. As a result, more people—not just the ultra-wealthy—can benefit from a holistic approach to managing their finances.
What Amber River provides
Amber River’s financial planning services incorporate all the key elements of wealth management. Our planners take a client-focused approach to create strategies that protect, grow, and pass on wealth in alignment with each client’s goals. Here’s what we cover:
Protecting wealth: Our planners work to safeguard your wealth from risks such as inflation, taxes, and unforeseen changes. We create strategies that offer peace of mind, so you can face the future confidently, knowing that your assets are protected.
Growing wealth: Whether you’re planning for a major purchase, saving for retirement, or setting up a fund for your family’s future, we help you grow your wealth to meet life’s milestones. By crafting personalised investment plans, we ensure your portfolio reflects your goals and comfort level with risk.
Passing on wealth: Planning for the future includes thinking about how your wealth will impact future generations. Our planners help you structure your finances to optimise tax efficiency, ensure your legacy reflects your values, and prepare for responsible distribution to those who matter most to you.
Who can benefit from Wealth Management?
Wealth management isn’t just for the ultra-wealthy anymore. Many individuals and families can benefit from the principles of wealth management that Amber River provides.
Consider these scenarios where a comprehensive financial plan can be especially valuable:
Saving for a major purchase: From weddings and school fees to buying a second home, having a strategy for these significant expenses can make a world of difference.
Planning for retirement: Creating a solid retirement plan early on gives you the flexibility to build the lifestyle you want, both now and later.
Protecting family and business assets: If you own a business or have family assets to secure, we’ll help you plan for the future and manage any potential risks.
Managing investments in uncertain economic conditions: We support clients through economic ups and downs, ensuring investment strategies are balanced to protect against volatility.
Preparing an estate plan: Ensuring that your wealth is passed on thoughtfully is one of the most important financial steps you can take. A tailored estate plan can reduce tax burdens and provide future security for loved ones.
How Amber River’s approach is uniquely tailored to clients
Our approach is as unique as each of our clients. At Amber River, our financial planners dedicate time to understanding your goals, comfort with risk, and individual circumstances. We call this “Life Landscaping” and means that we design a plan that evolves with you, adapting to changes in your life, finances, and goals.
Our planners also provide insight into the ever-evolving landscape of tax and estate laws, which can impact your long-term plans. By keeping up to date with these changes, we ensure that you are equipped with the clarity you need, navigating challenges confidently through a trusted relationship.
How Amber River planners help clients
Our financial planners use a strategic approach, drawing on extensive experience to help clients secure a healthy financial future. Here’s how we address key elements of wealth management:
Balancing risk and growth through diversification: We carefully select investments that fit within your risk tolerance and financial goals, helping you build a diversified portfolio that balances growth with security.
Reducing tax burdens and managing inflation’s impact: Our planners develop strategies to minimise tax liabilities and counter inflation’s effects, ensuring that your wealth maintains its value over time.
Safeguarding assets for family and business: Identifying potential threats to your assets and creating proactive plans to address them is an essential part of our service. We help clients mitigate risks, securing wealth for themselves, their families, and their businesses.
Estate and legacy planning: Legacy planning can be complex, especially when aiming to reduce inheritance tax and responsibly distribute wealth. We guide clients through these processes, helping them to make thoughtful decisions that align with their values and leave a positive impact on those who matter most.
Explore your financial planning options with Amber River
At Amber River, we’re committed to helping our clients create financial plans that protect, grow, and sustain their wealth for the future. Whether you’re managing significant assets, preparing for retirement, or thinking about your legacy, our experienced financial planners are here to help.
Get in touch
Contact us today to discuss your financial goals and learn more about how a comprehensive financial plan can support you in achieving them.
To set up an initial appointment with an Amber River financial planner in your area, call 0800 915 0000, or alternatively use our contact form here.
Disclaimer
The information within this article was correct at the time of publishing, but laws and tax rules are subject to change. Your circumstances and where you live in the UK may also have an impact on your tax treatment.
To learn about the government’s most recently-announced changes, please read our latest budget roundup: 2024 Autumn Budget Update
