Is it worth paying for a Wealth Manager?

This will depend on your answers to 5 important questions:

1. Have I the financial knowledge to select my own investments?
2. Have I the time to analyse thousands of fund options?
3. Can I predict my income requirements over my full lifetime?
4. Can I calculate the final amount I shall need in my pension to retire on?
5. Am I confident I can manage through all the stock market ups and downs?

If you’ve answered NO to any of these you’d be well advised to seek the services of a Wealth Manager.

If you have answered YES to some of then perhaps you may even be managing your pension and savings yourself or you may have an advisor already.

Something tells me if you’re still reading this article there are some doubts as to whether you are optimising your investment strategy?

Here’s 3 further questions to ask yourself or your current advisor:

1. Are your investments matched to your risk profile – have you measured this lately?
2. How do you adjust your investments in challenging times?
3. Can you be certain you will never run out of money in retirement?

Back to your original question – “Is it worth paying for a Wealth Manager?”

Consider how much worry could it take from you if you did. And what is the value of that?

And have you an opportunity to make more from your investments over the longer run by paying someone for advice and ongoing fund management. Not to mention the time freed up for more enjoyable activities in your spare time!

It’s what I call the ‘value equation’.

The Value Equation

Where Value is your judgment of the additional value of a wealth management service and long-term investment performance divided by the cost of the service.

There will be a point where a reduction in cost affects the quality of the service delivered and lack of care with your investments. All this will in turn affect the performance of your investments.

However, you need to select your wealth managers carefully.

FINANCIAL HEALTH WARNING: Not all Wealth Managers are the same.

Some hide under this badge as they are not truly independent – that is able to offer advice across the full range of UK investment funds.

FACT: The wealth managers you choose can greatly affect how long your money will last in retirement.

5 Big Questions to ask any Wealth Manager – that is anyone you shortlist as a possible advisor:

• Is your advice independent or restricted?

• Will you meet me every six months with full portfolio reviews?

• Will you match my investments to my risk profile?

• Will you ensure we never run out of money by reviewing our cashflow plan every year?

• Explain your investment process, fees and service proposition

It’s always time well spent considering the value an excellent Wealth Manager can add by asking such questions.

And when you’re shopping around advisors it’s worth thinking about the Value Equation.

Cost is but one element when you’re looking for a Wealth Manager who can deliver real value . . .

For more on that please click on the link below:

https://oaklandswealth.com/fees/

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).