CaSh
IS
kING
How to protect your
wealth when the
times are tough...
here was blood on the boardroom walls for inheritance tax. Prudent estate planning is instability and we’d recommend that people seek
T
after the turmoil which hit the financial imperative and we have seen a marked increase in professional advice on these issues, even if they’ve
system and precipitated a global the numbers of people coming to us for such advice. never felt the need before.”
meltdown of markets. Trusts provide excellent shelter for family capital John Simpson, Senior Investment Director at
But financial experts are urging people not to and also provide protection in the event of marital Rensburg Sheppards in Manchester, adds: “at
panic but to proceed (as the police might say) with breakdown. times like this, it is good to remember the view of
extreme caution in all matters financial. It is also the some well known investors
case that flux in the markets creates opportunities
for those bold enough to swim against the tide of “...flux in the markets creates
that the best time to
invest is when it feels least
pessimism.
Everyone’s circumstances are different but there
opportunities for those bold
comfortable. The late Sir
John Templeton said that
is general advice which all would do well to heed the best opportunities came
and, with the recent growth of wealth management
services here in the North West, there can be no
enough to swim against the
at the time of maximum
pessimism, while Warren
excuse for not seeking that advice out.
Chartered accountants, Duncan Sheard Glass, tide of pessimism.”
Buffett believes in being
fearful when others are
which has offices across the North West, has greedy and greedy when
recently expanded its trust department because of “It almost goes without saying that the current others are fearful.
the rising number of people who require advice circumstances mean care should be taken with “hoard cash for the moment; do not sell your
around inheritance planning. investments. For instance, we’d advise people to be equity portfolio but use it as a basis to add money
Tony Bayliss, a Trust and Family Wealth Partner cautious if considering investing in the banking into the market on an opportune basis. Spread your
based in their Merseyside office, said: “Even with sector and advise clients to spread the risk of their cash with a number of banks; buy short term gilts
the recent downturn, many property owners portfolio. The management of investments and to avoid deposit taker default risk.
find they have assets exceeding the nil-rate band pensions becomes particularly difficult when there’s “I suspect a sustained rally in the market will
46
www.waterfrontmagazines.co.uk
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