Wealth Management for Consultants
We understand that consultants typically have income structures that are more complex than most. You may receive part of your remuneration through profit distributions or performance-based bonuses, which means you could benefit from a wealth management that provides personalised solutions to protect and grow your wealth.
As a consultant, you may sometimes find it difficult to obtain a mortgage from traditional lenders. We have banking and lending facilities for mortgages and we can tailor repayments to coincide with capital reductions or liquidity events, or we can introduce you to lenders that are more open to lending to professionals with different income profiles.
Case study
I want to send my children to university in the US and diversify my portfolio.
Background
Our client is married with two school-aged children. He is a partner in a large US consultancy.
Key objectives
To co-invest in his company’s private equity scheme and diversify his portfolio. He also wants to secure his cashflow, as his children may want to go to university in the US.
How we helped
We started by cashflow planning to model different future scenarios, such as expenditure on American university fees, and different inflation and growth rates.
We then carried out a strategic asset base review. This helped place the school fees in context of his wider wealth and how this could grow over the years to come, as his children are still young.
Our client and his wife held multiple ISAs and pensions, which we consolidated and tactically aligned to diversify risk across their asset base. As our client invests in private equity via his work, he was keen to ensure his investments with us were differentiated.
As a result, our client and his wife invested their pensions in our long-term growth portfolio due to the tax advantages of the pensions. We then agreed a more balanced approach for the rest of their investments, so as to take a lower risk approach when considered alongside his private equity investments.
We also helped arrange a lower risk ‘pot’ which contained a mix of tax-efficient gilt portfolios and more cautious investments. This was timed to mature in line with when school fees or potential university fees would be due.
We agreed to regular meetings to allocate parts of his surplus income to his different investments, ensuring his finances continue to be proactively monitored.