A Beginner’s Guide to Wealth Management by High Street Wealth Management : RushPRNews - Newswire & Global Press Release Distribution

 
Bookmark and Share

A Beginner’s Guide to Wealth Management by High Street Wealth Management

October 26, 2013

A Beginner’s Guide to Wealth Management by High Street Wealth Management

London,UK (RPRN) 10/26/13 — If you’ve recently come into a large amount of money, you might have heard the words ‘wealth management’ thrown around a lot. If you’ve never had this kind of money before though, you might find yourself asking ‘what exactly is wealth management?’ If you’re struggling to find any solid answers, here’s a beginner’s guide to wealth management to lay down some of the facts for you.

Who is Wealth Management Aimed At?

Most wealth management companies work with high net worth individuals, otherwise known as ‘HNWs’. These individuals have assets worth over £1 million, and these assets could include everything from property to artwork and other possessions. Basically, anything the HNW owns that has monetary value is considered to be an asset. HNWs include successful business people, celebrities, people who are rich through inheritance and a whole host of others who have earned their fortune in various different ways.

What Does a Wealth Manager Do?

HNWs often have complicated financial arrangements as they usually have money in lots of different places, whether that’s in stock markets, savings accounts or in other investments. Often the complexity of these financial arrangements are too much for HNWs to manage on their own, so they employ the services of a wealth management company like High Street Wealth Management to handle their finances for them.

Wealth management by no means involves handing over your finances blindly to someone else, and clients of these companies usually have strong relationships with their wealth managers, communicating via the telephone or even in person on a regular basis. If a HNW is looking into making a new investment, or wishes to make changes to their financial arrangements in some other way, they will contact their wealth manager who will deal with the complexities of the matter and offer their advice and guidance.

Is Wealth Management Right for Me?

If you have assets worth more than £1 million and you’re looking to grow your wealth, then wealth management is a good option. If your assets are only just worth over £1 million though, you could struggle to find a wealth management company willing to work with you. Most companies don’t offer their services to the ‘affluent’ – i.e. those with assets worth between £100,000 and £1 million – so if you’re only just edging into the HNW category, then wealth managers might not be interested in having you as a client.

There’s speculation that wealth management companies are ignoring over half the UK’s liquid wealth by not taking on ‘affluent’ clients and devoting all of their time to HNWs. In fact, they’re losing out on the chance to manage £3 trillion of the country’s liquid wealth by only dealing with HNWs, as combined, those considered to be ‘affluent’ actually dominate the richest people in the country.

This could change over time though, and it could be the case that wealth management companies might be more willing to take on less individually rich clients in the future in order to tap into the £3 trillion of unmanaged liquid wealth in the UK.

Media Contact Name: James Raglan
Media E-mail:
Main image credits: http://www.capitalfortune.com/expats/uae/british-expat-mortgages-for-uk-ex-pats-in-abu-dhabi
Click here to see all news from this author/company

Filed Under: BANKING AND FINANCIAL NEWS, PRESS RELEASE, United Kingdom

RUSH PR NEWS newswire and press release services at rushprnews.com / Anne Howard annehowardpublicist.com

Content- Legal Responsibility - All material is copyrighted - You may repost but you MUST link back to the original post on your page and acknowledge Rush PR News as the news source. Rush PR News is not legally and/or morally responsible for content of press releases, opinions expressed or fact-checking.

Rush PR News cannot be held legally responsible for material published and distributed through its newswire service or published in its press-room and therefore cannot be sued for published material. Third-party must be contacted directly to dispute content.

Rush PR News is not the contact for material published.

RSSFeed PRESS & SOCIAL MEDIA RELEASES

yWorld a New Vancouver Based Tech Company Launches Innovative Digital Conferencing Platform

Vancouver, B.C. 07/30/14 · Vancouver-based yWorld is pleased to announce that they...

Ste. Anne's Spa Nominated for Favourite Wellness Property in Canada

GRAFTON, ONTARIO 07/29/14 · Spafinder Wellness 365™ announced that Ste. Anne's Spa...

The new language exchange app is here! As easy as learning Chinese!

SAN FRANCISCO 07/23/14 · The new language exchange app ‘Social Language’ is now...

Xpressivo live on KickStarter! Get a Jolt!

SAN FRANCISCO 07/23/14 · Xpressivo: Start It Up!   Get a jolt today! Xpressivo’s new...

What’s better than distributing your press release to tons of outlets? Guaranteed AP Media Coverage!

San Francisco/Montreal/London 07/23/14 · Distributing your press release with GUARANTEED placement in...

Xpressivo: Bringing Coffee Back

SAN FRANCISCO 07/17/14 · Espresso drinkers – get excited! Now even the most...

Designz23 presenta SEO, avisos Google, Pago Por Click, sitios aptos para móviles

Allentown Y Bethlehem, PA 07/16/14 · – Designz23.com se complace en ofrecer lo último...

Remapping and Insurance: What You Need to Know

LONDON, UK 07/14/14 · With turbodiesels often getting some of the very...

Are Canadian consumers getting fleeced by the life insurance industry?

Halifax, NS 07/08/14 · Consumers have had enough and they want to...

Open Casting Call for W Network’s New Reno Competition Series Game of Homes

VANCOUVER, B.C. 07/08/14 · Casting underway in Vancouver W Network and Great Pacific Television are looking...

Vegan Recipe Cookbook Celebrates 70 years of Vegan

London, UK 07/08/14 · London based health and nutrition consultancy Foods for...

Discover the Benefits of Grand Estates Auction to the Buyer

Charlotte, NC 07/07/14 · Benefits of Grand Estates Auction to the Buyer...

Why Are Brokers considering Grand Estates Auctions? Discover the benefits

Charlotte, NC 07/06/14 · The Benefit of Grand Estates Auction to the...

Grand Estates Auction Company presents Music City Glamour

Nashville, TN 07/05/14 · Redisvoer Music City Glamour: Nashville, Tennessee Nashville is more...