Typical Client Wealth Stages
Managing and retaining your wealth can be a daunting and time consuming task without a plan being prepared and implemented. The wealth stages for a typical client are as follows:
EBC Prepares Solutions designed to help you:
- Preserve, and
You can feel safe in the knowledge that your financial structure has been set-up by experts who have been successful for over 39 years and that your structure is robust, legal, and logical and works both efficiently and effectively.
Build your Wealth
Success and wealth in your life will present you with many different opportunities. If you are like many who are building wealth, you may be focused on several goals at once: Continuing to build and expand your business, enhancing your lifestyle, to providing for your family.
Our wealth planning process creates an overall picture of your unique goals, timeframes and financial situation, so we can prepare a wealth plan meet your specific requirements. With an understanding of your goals and risk tolerance, we can prepare plans that align your investments, private banking, trust solutions and insurance to help you achieve your overall wealth goals.
Manage your Wealth
Managing your needs will become more complicated as your wealth changes. Wealth planning is important because it looks at all of your assets, liquid as well as illiquid assets. The following services may be required in order to manage your wealth:
- Cash Management
- Inheritance Tax planning
- Pension scheme planning
- Transactional investment advice
- Portfolio reviews – annual review of investments and strategy
- Maximising Tax-efficient structuring around an agreed investment approach
- Investment consulting advice (e.g. recommending an appropriate strategy including a review of any existing portfolio)
- Implementation of strategy as required (e.g. placing investments on best terms, identifying and instructing third party investment managers)
Preserve your Wealth
With the movements of the market over the past 5 years and the appreciation and tolerance to risk, clients are more interested in preserving their wealth and lifestyles than seeking to grow their wealth. EBC will prepare to create a comprehensive wealth plan and suggest support strategies that assist in preserving your wealth.
Transition your Wealth
As part of any wealth plan you will need to prepare and record your legacy wishes and succession of your wealth. Your wealth and how it is to be distributed is often a major issue for you and your family. Included in such a plan will be such items as how your family is provided for, minimising taxes when assets are transferred to the next generation, deciding whether to sell your business or retain it, selecting the new management team if the business is retained, and any charitable donations you wish to make.
As part of this planning process, we will bring together all the services such as trust and tax specialists to work with you and your advisors and family to ensure that the transition can be made with the minimum of disruption.
We will be able to guide you through the complicated process of wealth transfer that will include the following:
- Trust administration
- Inheritance tax planning
- Tax preparation or review
- Preparation of all required inventories and accountings
- Distribution of assets in accordance with the succession plan
- Asset identification, collection, valuation and managementTax and legal strategies development to minimize all types of taxes
The foregoing summary is general in nature, and is intended for information purposes only and is not intended to provide specific advice or recommendations for any individual or organization.