Prior to inquiring about wealth managers and where to find them, some people wonder if the financial advice Hong Kong is even important to their field.
The thing is that the client does not have to be a celebrity or VIP to avail of a wealth manager. Any owner of a business who will go through a “liquidity event” must think about working with the said person.
Who are these people and what do they do for you?
The term “wealth management” refers to a high-service, high-touch approach to handling all aspects of finance. Advisers work with specialists in insurance and banking, and they also talk to lawyers regarding legal matters so that the client’s investments will be managed well.
The actual concept behind the wealth manager is for a single individual to take care of the entire team. This may even involve a “family office” wherein the adviser handles any issues that the client may encounter (such as paying bills and obtaining loans and mortgages for the client). This is why retaining this specialist can be an important, integral part of the success of a business.
I thought that wealth managers are best hired for retirement plans.
Following the sale of the business, the focus of the business owner will change. The concentration on wealth management also changes from the assimilation of assets to the dispersal of assets. One of the things the business owner has to think about is passing on the assets to the next generation. Will they inherit everything in one go or through instalments?
If the business owner has a child with special needs, how will its assets be protected? Will the individual set up a charitable trust? An expert in financial advice Hong Kong can help the client with all of these important decisions.
Contact financial advice Hong Kong if you need help. They’re here to inspire you and help you plan ahead for your future.