Financial services company, Investec shares an insight into the most common money questions they receive…
When your time and effort is spent growing your business, you may need more support with your personal finances, including wealth planning and investment.
At our Sheffield office of Investec Wealth & Investment, we have specialists who help local business leaders with financial planning and investing. Below we’ve shared five common discussions we’re having with clients.
I want to grow my business
Many local entrepreneurs are building fast-growing businesses and need access to specialists who can support them with funding and strategy.
Associate investment director Sam Olley said: “We connect clients with our corporate banking business to structure suitable lending facilities or other funding,”
“Eventually, individuals will want to unlock the value of their business, so we work to understand their goals in advance” added associate financial planning director Lisa Denton.
I want to manage my outgoings and tax liabilities”
When immersed in business development, it can be difficult for individuals to monitor their personal finances, so wealth planning can provide peace of mind.
This roadmap is also created with tax efficiency in mind – reliefs and allowances such as ISA and pension contributions can be used to reduce deductions where appropriate.
I want to sell my business or retire”
Whether you want to save, invest, or explore another venture, it’s never too early to prepare for the future. “Our modelling can help you decide on the minimum funding that is required to achieve your goal.” said Lisa.
How ownership is structured will also have an impact on the tax that is due at the point of sale.
I want to look after the next generation
Many of our clients want to pass on the wealth they have built up personally or through a business.
“Where appropriate, business assets can be held outside personal names, using trusts, which may reduce tax liabilities while enabling you to retain control,” said Lisa.
“Spare capital could be invested to limit tax on growth and the withdrawal of funds. These investments could include trusts or offshore bonds,” adds investment director Jason Hallam.
I want to invest my money responsibly
If you have spare capital, you may want to invest it in order to preserve or grow your wealth.
“We work with entrepreneurs and business leaders to create discretionary portfolios, which include multiple asset classes to balance risk.” says Sam.
“We evaluate the environmental and social risks to our investments as standard.” said Jason. “This helps us assess how an investment might perform over time and highlights the practices of the companies we invest in”.
To find out more about how Investec Wealth & Investment can help in your financial journey, please contact Sam Olley (sam.olley@investecwin.co.uk) or Lisa Denton (lisa.denton@investecwin.co.uk).
