Asset Protection and Risk Management

This aspect of our service represents the other side of the coin. Establishing investment strategies, eliminating potential tax problems and developing sound retirement plans are all obvious priorities. But there are other issues to consider, which may be less apparent but are equally important.

Any financial plan must take account of possible threats to your finances and your personal interests. For that reason, asset protection and risk management are cornerstones of our Lifestyle Wealth Process. We will identify the financially-related risks you face and assess how likely it is that those risks will materialise. With that knowledge, we can then identify what options you have for protecting yourself against the possibility (and consequences) of significant financial loss.

Something which many people overlook, but is one of the simplest ways of coping with life’s vagaries is to set up an ‘emergency fund’: a sum of money which you can access quickly to help you cope with an unexpected and adverse event.  There may come a time, when you may prefer a smaller home: downsizing at the right time, can reduce your outgoings and further bolster your wealth.

Insurance is always a good idea. But too much of the wrong type of insurance, isn’t. Protection planning is to do with your age. situations, priorities and possibilities — all of which change as your life progresses. Some insurances are fairly basic, some aren’t. It’s relatively easy for example to start a life insurance policy: but under what circumstances would it make sense for you to stop it?

We can help you address difficult but nevertheless important ‘protection-related’ questions such as:

  • How would your spouse’s premature death effect you?
  • Is there a risk that surviving a serious illness would ruin your plans?
  • Would your capital be substantially eroded if you had to pay for professional care at home or for nursing home fees?
  • Private medical insurance — friend or foe?

Protection planning is part and parcel of our all-encompassing Lifestyle Wealth Process.