How much money do you need for wealth management?

The answer depends on the entry requirements of the wealth manager you are looking at.

You’ll probably have seen the terms High Net Worth (HNW) and Ultra High Net Worth (UHNW) bandied about. As the terms imply, it means Wealth Managers usually look after large amounts of money for such clients.

The minimum investment requirement for some may be £1 million, £5 million or upwards of £10 million even. Though increasingly some Wealth Managers will take clients with investments of £250,000+.

There has been a trend for Independent Financial Advisors to cross over into wealth management and the terms can be confusing.

The large wealth management firms work usually offer a variety of services, rolled into a single advisory package. Services include investment management, accountancy, retirement planning, and legal advice. This may sound attractive at first, though stop to consider whether you’d like some independence selecting your own legal and accountancy advice.

And talking of independence, such services may not include truly Independent Financial Advice offered by advisors who have access to the full range of investment options within the UK regulated market.

Here at Oaklands Wealth Management we offer such independent advice and are specialists in retirement planning and consolidating and combining pensions. Unlike some wealth managers we also have particular expertise in pension transfers.

Our minimum investment is £500,000 (£650,000 for pension transfers) and we give the same level of care to all our clients. Our approach is to focus on providing the initial advice and with investment portfolio reviews every six months to manage your wealth ongoing. If you require accountancy or legal advice we are happy to work alongside firms of your own choosing.

When selecting a wealth manager it’s wise to think through exactly the services you require.

If you require a more personalised service from a consistent team then a wealth manager who acts principally as an Independent Financial Advisor may well be a good option. If you require all the add on services then larger firms may be more appealing.

Always ask great questions of whomever you are considering to manage your wealth to find out if they are the right match for you.

How important will your investment be to them, if they have hundreds of thousands of clients, some in the super-rich bracket?

Will they look after it as if it were their own?  Do they practice what they preach and invest their own money in the same way as for their clients? All our clients at Oaklands Wealth have their pension and savings portfolios structured in the same way as 3 generations of my own family.

It matters a lot that we look after clients as if they were our own family, an ethos all the team shares.

Interested in finding out more?

Seeking a second opinion on your financial future costs you nothing.

Simply call our friendly team on 0121 355 4455 or drop us an email to appointments@oaklandswealth.com to arrange a confidential chat.

Oaklands Wealth Management, founded by Helen Blackburn in 2004 advises clients around the Midlands on retirement planning, pensions & investments.

Her firm holds British Standard BS 8577 for client service & investment process.

Minimum investment is £500,000 (£650,000 for pension transfers).