Frequently Asked Questions (FAQ) about wealth management

Wealth Management FAQ

What is wealth management?

Wealth management is a comprehensive service for wealthy individuals and families focused on protecting, preserving and growing their wealth. Investments are tailor made depending on clients’ objectives, whether they be short- or long-term. Beyond investing, wealth management may extend to a suite of services that addresses an individual’s or family’s long-term objectives.

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What is wealth planning and why is it important?

Wealth planning, as it is commonly defined in the wealth management industry, takes a holistic view of an individual’s circumstances, seeks to understand their aspirations, and offers guidance. Individuals or families may face circumstances that vary considerably depending on their stage of life (i.e. relocation, marriage, having children, divorce, acquiring or selling a valuable asset or preparing for succession). Multijurisdictional exposure is a complexity that may also need to be addressed most of the time nowadays. By first identifying the client’s potential tax and legal framework, a wealth planner can then present clients with an overview of suitable options in different areas and countries as a single interlocutor and monitor the potential measures to be undertaken. For a tax or legal opinion, they would refer to a network of external providers.

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What is family advisory?

Family advisors support and guide wealthy families in building a bespoke governance system to ensure an intergenerational partnership and to work towards the family's long-term goals. This involves ascertaining the purpose of the family’s wealth – the values and goals its members share – as well as addressing how these can be passed on. The advisors may work with the family to create a Family Charter that serves as a written record of a family’s heritage, culture, values and objectives as well as providing a framework for conflict resolution. 

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How to preserve my wealth?

Preserving wealth means different things to different people. Depending on their circumstances, an individual may for example want protection from geopolitical risk, environmental risk, or to plan for family transition. The first step for a wealth manager is to define what wealth preservation means to their client and to identify the associated risks. Based on that assessment, the manager can then leverage investment, advisory or wealth structuring services to design the best solution for their client.

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