wealth management

A Wild Way to look at Wealth Management

Owners of businesses are special in a ton of ways… and they need advisors who recognise that reality… but when it comes to Wealth Management it just doesn’t happen…

Too many wealth/financial planning guys see you as walking pension pots…  maybe they’ll sort you Key Person Cover, and maybe encourage you to get a shareholder agreement in place (with attached Insurance policies)…

But they leave waaaaaay too many gaps for me to be happy with the service you guys are getting…

So here’s the Wild way to look at Wealth Management…

Protection first… and that means a form of Living Will for your company…

A Shareholder Agreement (with any necessary Insurance policies)… Key Person Cover (must contain some Critical Illness)… and an LPA (Lasting Power of Attorney) 

Mind the Gap

Admit it… you don’t have all of these… ? … and that means you are leaving the wealth you’re creating and your business unprotected

You’re not alone… I’ve recently visited 45 companies in 3 months as part of a passion project (see here for why) and only two were properly covered

Why? Because the quality of Wealth Management & Financial advice owners of businesses receive at this level is frankly piss poor…

Too often it fails to take into account the extra duties & responsibilities of owning a company… and too often it leaves major gaps… like an LPA

You are 7 times more likely to become incapacitated than die… so why hasn’t your finance advisor rammed an LPA down your throat? Why isn’t incapacity provided for in your Shareholder Agreement? and why are your cover polices more about death than incapacity?

And there’s more

So… having Protected your wealth what’s the Wild way of looking at Wealth tied up in the business?

Making the most within the business

There are some of the cool tools available to optimise interest on any cash balances in your business?

I know of one that can turn a 0% deposit account into one paying 2%… by giving you a portal to easily move money between different deposit accounts from different banks…

(And if safety first /protection is a priority this tool has 30 banks on it… meaning you can spread your money and get 30 lots of £85k deposit protection should the banks get in trouble again)

And for those of you running a consistent cash surplus… there are safe Corporate Bond products that keep the cash in the business but pay out 5% plus (and don’t screw with your Entrepreneurs Relief if you sell the business)

Getting wealth out of the business

I’m not talking a sale here… I’m talking Converting Company Assets in Personal Assets…

… and doing it in a non-aggressive “won’t come back & bite me” way

Here’s a simple way to look at the 4 Pillars of Tax Efficient Investing

ISA : no tax relief going in… tax free coming out

Pensions : tax relief going in… taxable coming out

EIS : tax relief going in… tax free coming out

VCT : tax relief going in… tax free coming out



… if your advisor hasn’t covered anything mentioned in this post… you are GS10K… you need and deserve better