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Bespoke Wealth Management – Investing in fine art or collectibles

When choosing a piece of fine art or a collectible, there are many different things to consider and assess. Initially, there is the practical side; you might contemplate whether a piece will suit your current interior design style, whether you have space for it or if it is within your budget. Undoubtedly, and perhaps more importantly, you will also need to evaluate more emotional factors, such as how it makes you feel and whether the purchasing of said item is a decision you feel confident in making.

The process of purchasing and appreciating art is an incredibly personal one and is not the same for any one person – something that can also be said for wealth management and financial planning. Personal circumstance, risk appetite, and preference mean that the right wealth management journey can differ drastically depending on the individual, and at Blacktower, we understand how important it is that the service we provide reflects that. To us, bespoke wealth management not only means appreciating that financial goals and objectives differ from person to person, but also that priorities will evolve throughout an individual’s lifetime too;  just as our taste in art might change over time, so do our financial needs.

Although wealth management is far from a ‘one-size-fits-all’ solution, the benefits of long-term financial planning are universal. It goes without saying that this is absolutely essential if you want to establish and maintain control over your finances whilst ensuring you get the most out of your hard-earned assets. Whether you are hoping to find the most efficient way to pay on your wealth to the next generation, or simply want to enjoy retirement without the constraints of financial restriction, the earlier you seek expert advice the quicker you are likely to achieve these goals, and the fewer sacrifices you are likely to have to make.

Whilst this might make securing your financial future seem simple and straightforward, we understand just how complex the reality can be. Effective wealth management involves the development of a personalised, extended strategy, often with multi-asset approaches to investment to ensure maximum growth. Navigating this landscape alone can be incredibly daunting and even counter-productive if you are not equipped with the adequate knowledge or experience, with decisions only becoming more complicated and intimidating if you are an expat or moving abroad. The range of options available can be overwhelming, making it tempting to keep your money liquid as opposed to investing it, but ultimately, this decision is only detrimental to long-term growth. Well-executed investments can truly be life-changing, making you far more than any savings account interest will ever return; a good financial adviser pays for themselves over time and time again in peace of mind, time saved and potential returns on your investments.

In our efforts to simplify the complex for our clients, we make our process as straightforward as possible; beginning with a no-obligation complimentary consultation to review your finances and personal circumstances, your adviser will then be able to solidify your goals and the relevant timelines. They will then provide you with advice on how best to achieve these objectives, offering insight into possible strategies.  Once you have selected an approach that you are comfortable with, your adviser will formalise this in a wealth management plan for you to review. With transparency and consistent communication at every stage of the process, you never have to feel as though decisions regarding your finances are out of your control or being made without your knowledge or consent, giving you confidence in the direction of your financial future.

With a global team of experienced financial advisers and offices in the UK, US, Cayman, Australia, Switzerland, and across the EU, our regulatory footprint allows us to assist those moving abroad permanently, or as temporarily. If you would like to arrange a complimentary review of your finances and take your first step to securing your financial future, for yourself and your family, you can contact us by visiting blacktowerfm.com or by using the details below.

Other News

TOP TIPS – Pension Drawdown for Expats

Jar of CoinsFor all but the highest net worth individuals, a pension pot will be the most valuable retirement asset in the long-term financial plan. Despite this, many retirement savers take a passive approach to pension planning and ultimately fail to realise the benefits of considering all the options and opportunities available to them.

One such opportunity is to transfer pension savings into a Self Invested Personal Pension (SIPP) and then drawdown to access your money.

But what exactly is a drawdown pension, and what should you be mindful of when considering pension drawdown options?

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Your Expat Pension and Exceeding the Lifetime Allowance

CalculatorThe pensions tax relief Lifetime Allowance (LTA), otherwise known as the pension lifetime limit, should be an area of active concern for any expat with a high-value pension.

Despite this, far too many wealth management clients have insufficient knowledge of precisely what the pension lifetime limit is and they could be affected. In fact, significant numbers of expats may be unwittingly breaching the LTA pension limit, oblivious to the possible consequences.

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