MONEY MATTERS
WEALTH MANAGEMENT The management of personal wealth is a discipline that involves planning, growing, preserving, and protecting wealth, as well as passing it on to the next generation efficiently, as Peter d’Aguilar explains
W
hether you view money as the route to happiness or the root of all evil, there’s no denying its necessity. According to the American showman Phineas Barnum, “money is a terrible master, but an excellent servant.” Pioneering car manufacturer Henry Ford stated, “money is like an arm or leg – use it or lose it.” An ancient proverb warns us that, ‘a fool and his money are easily parted.’
This is where wealth management comes in. Anyone lucky enough to have accumulated a reasonable sum of money – whether through inheritance, the sale of a business or property, a lottery windfall, or just plain hard
A good adviser will use a consultative process to learn their client’s financial circumstances
graft – ought to consider seeking expert advice on how to invest their nest egg so that it’s secure and productive. A wealth management consultant, or financial adviser, will offer guidance and recommendations on investment with the aim of preserving, protecting and growing a pot of money, while also helping to ensure that in due course financial assets are passed on taxefficiently to the next of kin. Successful wealth management can involve a synergistic combination of disciplines – investment advice, estate planning, accounting, retirement provision, tax services, succession planning and family governance. A good adviser will use a consultative process to learn their client’s financial circumstances, September 2021 | SUSSEX LIVING 153
