Could a wealth manager help you pick a path through economic and political volatility to arrive at a brighter financial future? That is the sales pitch of the wealth-management sector, which wants to take responsibility for investing your money and supporting you with your broader financial goals.
“What you’re getting is a much more integrated approach to your entire wealth,” says Jason Hollands, a managing director at Evelyn Partners, now the UK’s biggest wealth manager. Compared with, say, a high-street financial adviser, wealth managers promise something more holistic. “You’ll get a bespoke investment solution, as well as a very broad range of financial planning services,” Hollands explains.
In this utopia, your wealth manager should take the time to understand every aspect of your family’s financial goals, select an appropriate range of products and services, and run an investment portfolio on your behalf that gives you the best chance of achieving all your ambitions without subjecting you to undue risk.
Is there a catch? One potential stumbling block is exclusivity. Wealth managers are looking for clients with at least £200,000-£250,000 to invest. Some firms will take on clients
