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
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


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.


Vegan Challenge to Scotland's Doctors, Midwives, Nutritionists and Dietitians

Glasgow, Scotland 11/30/15 · VegfestUK has been organising educational vegan festivals in...

Fuzion International Launches Menswear Collection in San Francisco for the Elevated Spirit

SAN FRANCISCO 11/27/15 · — Fuzion International, a San Francisco-based elevated “lifestyle...

BLACK FRIDAY SALE: PR Coupon available! Valid 4 days only!

San Francisco 11/27/15 · BLACK FRIDAY PR valid until Tuesday, December 5...

Fuzion International thrilled to be a part of CFC 1

SAN FRANCISCO 11/25/15 · What an awesome fighting event. Fuzion International, a San...

The African-American Dating Experience

Austin, TX 11/24/15 · New book Chronicles The African American Dating Experience…And...

The eWheel Adventure Begins! Self Balancing Scooter Market Explodes

ATLANTA, GA 11/15/15 · From the Hover-board to the eWheel the self-balancing...

GreenRoad Releases Next Generation of its Mobile Application

Austin, TX 11/11/15 · GreenRoad Releases the Next Generation of its Mobile...

Fuzion International Coming to San Francisco

SAN FRANCISCO 11/10/15 · Come and meet lifestyle brand designer Lucas Molo...

Popular New Service Enables Customers to Order a Christmas Tree Online

New Brunswick, Canada 11/10/15 · The pace of modern living means we don't...

Hilltop Christmas Tree Farms Launches Modern Delivery Service

New Brunswick, MA 11/07/15 · Hilltop Christmas Tree Farms has launched a new...

New Service Delivers Fresh Christmas Trees to Hot Texas Homes

TEXAS 11/06/15 · It’s not always easy to fill a home...

Georgia Rapper Young Kuntry Release New Video/Single/LP

Atlanta, Ga 11/06/15 · Young Kuntry, one of Georgia most popular upcoming...

Digital Traffic Systems Awarded Contract in Ohio for Road Weather Information Systems (RWIS) Maintenance

RICHMOND, VA 11/04/15 · Digital Traffic Systems, Inc. (www.digitaltrafficsystems.com)(DTS) has been awarded...

Welcome to the World’s most Supercharged Messenger Bag for Commuters

London, UK 11/03/15 · The ability to charge a smartphone or iPad...