Breaking into the wealth management industry requires a solid understanding of financial concepts, strong communication skills, and relevant qualifications. This article explores the steps to enter the field, the necessary certifications in the UK, and the benefits of a career in wealth management.

Wealth managers play a crucial role in helping individuals achieve their financial goals. Let's explore their responsibilities and gain a deeper understanding of the services they offer.

Wealth management is complex, and understanding its services helps you make informed decisions on managing your finances and choosing the right professional to work with.

A loan trust involves an individual establishing a trust. But rather than making a gift, the settlor lends money to the trust. The trustees then invest this money, typically into an investment bond, on behalf of the beneficiaries.

A trust is a fiduciary arrangement that allows a third party or trustee to hold assets on behalf of a beneficiary or beneficiaries. Once the trust has been created, a person can use it to 'ring-fence assets.

Family investment companies (FIC) offer a different structure enabling individuals to pass on wealth while maintaining control of assets, as well as offering potentially greater tax efficiency.

An offshore investment bond is an investment wrapper that is typically provided by a life insurance company domiciled in a jurisdiction with a more favourable tax regime, such as the Isle of Man, Dublin, Luxembourg or Guernsey.

It is important to think not only about the potential impact of Inheritance Tax on your estate but also about how assets are to be passed, who they should be passed to and the timing of that.

The main aim of Business Property Relief (BPR) was to protect family-owned businesses and enable them to carry on trading after the death of the owner without an inheritance tax (IHT) liability.

Pension freedoms have given those with personal pensions greater choices in retirement than ever before. However, with choice can come confusion, making advice in this area even more important.

Cashflow planning provides us with valuable insights and presents us with planning opportunities to give you the best chance of making the right choices with your finances.

The Investment Quorum financial planning process is an ongoing process designed to equip you to make sensible decisions with your money that can help you achieve your lifetime goals.