Trust, like wealth,
is hard earned.
Your security shouldn’t be selected off the shelf. With Advanta each portfolio is uniquely tailored to you, ensuring peace of mind and security. That’s the power of personalised service.
6 Step Wealth Management Planning Process
1. Data Gathering
We will establish details about your assets, liabilities, income and expenditure in order to understand the arrangements you already have in place and your attitude to risk.
2. Goal Setting
We will establish what your goals are for the short and long term and gain an understanding of your commitment to meeting your objectives.
3. Identification of Needs
We will analyse your current position and assess any gaps in your current arrangements. Next, we will identify what needs to be done to meet your objectives.
4. Report Preparation
Our analysis and recommendations will then be presented in a written report. This forms the basis of a formal review at which time, we can agree on an action plan.
Effecting the plan will invariably involve new and changed arrangements. We will liaise with providers and other professionals to implement the agreed plan.
6. Review and Revision
Wealth Management is a long term plan that requires regular annual reviews. Changes in your circumstances will be considered as well as fund performance.
For many people, the first step in securing their financial future is to start the process of wealth creation.
High income levels are often accompanied by equally high expenditure and so, little provision is being made for the future. Lifestyle planning and counselling creates awareness of the future and on occasions, cash flow planning and debt management may be necessary to balance current lifestyle with the costs of future lifestyle.
A Wealth Management Plan will identify realistic goals and provide a pathway to achieve them. For more details, see the 6-Step Wealth Management Planning Process and Common Elements in Wealth Management.
Before you retire, you need to build up a fund that will support you through your post-retirement years. Once you’ve built up this fund, you need to know how best to manage and maintain it, and the best options for drawing your income from it – for example, do you want to buy an Annuity at retirement, go into Income Drawdown. With our help and advice you will be recommended the option that best suits your circumstances at the time.
Financial protection principles apply to businesses as well as individuals. This is especially true for small businesses where the proprietor’s wealth is tied up in the business and its continued success is dependent on their skills and application. It is even truer for businesses with very few resources and reserves.
Share Protection cover provides funds to buy company shares. It is intended for Private Limited Companies where there may be only a small number of principal shareholders. This is usually done in conjunction with a Shareholders Agreement to give the remaining shareholders the first option to buy these shares. Shareholder Protection allows for sufficient funds to be available in the event of the death or serious illness of a shareholder. This ensures that the company can continue to operate unhindered while the shareholder or their family receive fair compensation.
The overall aim is the same as Shareholder Protection, although an important consideration is to ensure that the partnership has an appropriate Partnership Agreement, which ensures that the surviving partners are able to purchase the deceased partner’s share of the business.
Key Person Protection
Key Person Insurance is taken out by a business to cover the financial consequences of the death, serious illness or prolonged disability of its key personnel. This can help safeguard the business against the loss of profits and provide breathing space during which time the company can be restructured or a suitable replacement found.
Advanta Wealth Wrap
Estate and Inheritance Tax Planning
Address: 130 Buckingham Palace Road, London,SW1W 9SA
Phone: +44 (0)20 3668 7480