Tax, investments and pension rules can change over time so the information below may not be current. This article was correct at the time of publishing.

Three steps to help preserve your wealth

After building your wealth, you should then aim to preserve it or continue to grow it.

Preserving wealth is vital to maintaining your current lifestyle and making sure that you do not run out of money, particularly when you have retired and are not receiving income from a salary.

Below are three top tips that our financial advisers use when helping clients to preserve their wealth.

Invest tax-efficiently

Tax-efficient investing means you are utilising as many of your tax reliefs as possible which means you are able to preserve more of your wealth.

At Four Wealth Management, a Financial Adviser will help you to restructure your finances with the aim of reducing the amount of tax that you pay by ensuring you are claiming all of your tax reliefs and allowances.

Taxation is a complex matter and the rules and reliefs often change. If any changes to tax legislation will affect your portfolio, your Financial Adviser will let you know to give you peace of mind.

Find out more about tax planning

Arrange a Professional Review of your Pension

Protect your assets

Protecting yourself and your family from unforeseen circumstances is vital to preserving your assets. For example, if you or a family member require long term care in the future this could deplete a lot of your savings if you do not have the correct policies in place.

Preparing for the unexpected and taking action when you are young to protect your assets could save you money in the long term as protection policies will invariably cost more as you get older.

At Four Wealth Management, our Financial Advisers can help with life insurance, critical illness, income protection, private health insurance and long term care.

Find out more about protection policies

Diversify your investments

Diversification is investing in different asset classes, products, sectors and locations. Having a diverse portfolio minimises the risk of loss and therefore is a key way to help preserve your wealth as even if one investment performs poorly, your other investments could perform better than expected over the same period which may reduce your overall losses.

At Four Wealth Management, your Financial Adviser will work with you to create a diversified portfolio in line with your financial goals.

Preserving your wealth will mean that you have more assets to leave to your family which is another area that you can discuss with a Financial Adviser.

To book a no-obligation meeting with a Wealth Manager in Clifton, Bristol or at your home address please phone us on 0117 973 0500 or leave us a message.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can go down as well as up. You may get back less than you invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

Enquire Now

If you have any queries or would like to arrange a face to face meeting with an adviser for a no obligation review of your personal finances, simply book a call back using the form below. Alternatively, you can call us on 0117 973 0500.

The Partner together with St. James's Place Wealth Management plc are the data controllers of any personal data you provide to us. For further information on our uses of your personal data, please see the Partner's Privacy Policy or the St. James's Place Privacy Policy.

Share this article

Share on google
Share on linkedin
Share on print
Share on email