What impact will all this uncertainty be having on your future and your investments?20 May 2020
Beyond trying to “stay alert” and make sense of the latest government guidance, your thoughts are probably turning to the economic effects of this global crisis. What impact will all this uncertainty be having on your future and your investments? Times such as these really do bring home the need for a robust financial plan to ensure you are best placed to achieve your short, medium and long-term objectives.
Even in relatively normal times, a well-constructed financial plan can be invaluable for ensuring you remain on track to achieve your goals. As well as economic events, a financial plan can be regularly reviewed to take account of changes in your personal aspirations, family situation, personal wealth, residency, tax and legislation. Developing a plan with an experienced wealth planner gives you the opportunity to benefit from their specialist advice and ensure your wealth is working for you.
You may not be familiar with the concept of ‘advice alpha’, but effectively this is the additional return you might achieve by working with a wealth planning specialist, rather than managing your wealth on your own. Studies have shown the majority of advice alpha is derived from tax conscious asset allocation and tax-efficient ‘tax smart’ drawdown* (known as decumulation). Tax smart accumulation also has a hugely positive impact on your ability to decumulate tax effectively, when you’re ready to convert your pension savings into retirement income.
If you are interested in developing a financial plan, our wealth planning specialists can work with you to build one. We achieve this by developing a thorough and detailed understanding of your personal and financial circumstances, and helping you to define your goals and objectives. If you already have a financial plan in place, our wealth planning specialists would be happy to review it with you.
During the current lockdown, you may find you have more time to think about the future and what you want from life. Our wealth planning team can also advise on more immediate wealth planning considerations, including:
Our wealth planning specialists work closely alongside our investment specialists and private bankers, and together we can help to guide you through the current crisis and beyond. If you would like to discuss any aspect of your financial plans with our specialist team, please get in touch.
At Nedbank Private Wealth, we have been working closely with private clients across generations, and are ideally placed to create wealth solutions tailored to your needs, both within the UK and internationally. If you would like to find out more about our approach to wealth planning, please email us for more information, or contact your private banker or our client services team on +44 (0)1624 645000.
*Nedbank Private Wealth does not provide tax advice. The levels and basis of taxation are dependent on individual circumstances and subject to change. You should always consult a specialist tax adviser before engaging in any transaction.
Tailored to suit your needs