Whatever your financial position, managing your assets and ensuring a safe and secure future for your family is vital. Experienced and expert help is important and is not, as is often the perception, something that only applies to the very wealthy.
The Private Client Team at Mercer & Hole works with clients across the spectrum, from those who simply want to make sure there are funds for their children’s or grandchildren’s education, to owner-managers looking to exit their business, right through to estate planning and protecting the family’s long-term future.
Lisa Spearman heads up Private Client Services at the firm’s Milton Keynes office, where she and her team work closely with colleagues in Financial Planning to offer a joined-up service that considers all financial aspects of preparing for the future.
Lisa said: “When people think of trusts and estates and financial planning, it seems to have this aura of elitism, but the simple factis that if you have a property, life insurance, savings and investments, you need to think about how and when you can access your assets not only when you need money for life events or your children’s education, but also, although we generally don’t want to think about it, what will happen to it all after your death.
“All the information we give, people can find out for themselves – all legislation and regulations are in the public domain – but it’s very complex and relating it to each individual set of circumstances is where an experienced eye is so important. Having input from Private Client professionals gives you the opportunity to take a step back, sometimes thinking differently, to look at the key questions, and get peace of mind that your future is as safe and secure as possible.”
Those key questions, put simply, are: Why are you saving? What have you already got? How much do you need? When are you likely to need it? Who will be using the funds and, consequently, how should it be invested? Tackling those points allows Lisa and her team to get to the nub of any issues and help clients find a practical and effective way to get their financial affairs in good shape, backed up by clear forecast models.
The team can also help navigate the complexities of taxes, trusts and estate planning. Where there are blended families, specific provision can be made regarding who inherits what and how the estate will be divided up. For business owners, looking after their families as well as the employees that depend on them is another area that needs expert input.
Edward Fowle from the Financial Planning team at Mercer & Hole, said: “We work hand in hand with our private client team and with other experts within the firm. We might be working with corporate clients who have families to consider, but also employees who depend upon them.
“It can be a collaborative effort to advise clients on how to secure business continuity for the company, its employees and customers in the event of a death or incapacity. This includes developing a strategy for that event and, where relevant, making sure appropriate insurances are in place. We also help with all aspects of retirement planning including managing pensions arrangements and helping clients adjust their finances as they move into a new stage of life.”
Lisa added: “Getting to know our clients and understanding their personal and business situations and building a relationship that allows us to have what can sometimes be quite difficult conversations, is one of our most important roles.
“Encouraging clients to have everything in place while they are still able to make clear, rational decisions means plans are in place for the future. The aim is to ensure that everything is in order in advance wherever possible, so it is one less thing to worry about at those very difficult times.”
The Private Client Services and Financial Planning teams work together to add value in the form of peace of mind and a clear understanding of the future. With legislation changing all the time, and tax planning becoming increasing complex, expert advice and a clear framework for clients’ finances is more important than ever.
Find out more about Private Client Services and Financial Planning at Mercer & Hole by visiting their website.
