Diversity is the Key
to Wealth Management
John Price, a Senior
Private Banker with
Coutts & Co. Liverpool
gives his expert advice on
wealth management
T
he management of personal wealth is, when there is business to be won and work to be them to borrow funds without being tied into
for the individuals concerned, a done? rigid repayment structures.
unique experience. However, one Entrepreneurs require a tailored and integrated Recognising this and many of the other wealth
commonality shared by many service for their extremely sophisticated financial management needs of this group, in 1999
entrepreneurs is that so much of their time is needs and require the expertise of a dedicated Coutts & Co became the first private bank to
devoted to their businesses, that dedicating time private banker who will have an in-depth establish a dedicated client group focusing on
to their own personal finances is a rare opportu- understanding of their short, medium and the entrepreneur’s specific requirements. Today,
nity. Yet in many of these examples a high long-term requirements. We often find that Coutts can count almost one third, or 18,000 of
proportion of their personal wealth is locked many entrepreneurs have insufficient capital set its UK clients as entrepreneurs, with a client
within their own business, personal assets aside to provide for long-term personal lifetime base spanning the entire spectrum of the British
consist almost exclusively of shares in their own requirements, which may include retirement industry. Coutts tailored approach to managing
company and owners are often loathe to invest planning and schooling fees for example. In their wealth helps clients to build up their
in anything other than their own stock. many cases, particularly those looking to expand businesses, supports serial entrepreneurs in the
But why spend time considering whether there their operations, they also need immediate buying and selling of businesses and takes care
is too much risk in an investment portfolio, or access to liquid funds and this requires access to of their private financial requirements.
whether there are methods of shifting tax a range of flexible lending products offering One of the greatest decisions faced by entrepre-
burdens to family members in lower brackets reserve lines of credit for standby use, allowing neurs is the problem of deciding upon the best
54
waterfrontmagazines.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68