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Why private wealth management is always a good idea

Not many people would dispute that securing your financial future is a good idea. Whether you have a pension plan, investments, property, or just a savings account, having some sort of plan removes a big chunk of stress, and can even be designed to help you through tougher times in the short to medium-term.

Many of us have an image of how we want our life to be yet do very little to make sure it becomes reality. This can be because of a preconceived notion that you must be wealthy before considering private wealth management. However, it’s often the reverse that’s true. If you want to end up financially comfortable in the future, you should start planning now.

What is private wealth management?

Private wealth management is a general term that refers to your bigger financial picture. It incorporates all aspects of pensions, investments, portfolio management etc. It’s a service designed for the sole purpose of enhancing your finances. Rather than only planning for retirement, it often incorporates short, medium and long-term goals.

The bigger picture approach allows us to utilise a full range of products to achieve your goals. This means you have an endless possibility of combinations at your disposal. We help you create a clear path to the life you want to live.

Who provides private wealth management?

Private wealth management is a service offered by financial advisors. They can be working on behalf of an institution, such as a bank, or they can be independent financial advisors. If an advisor works for an institution, they will only have access to that institutions range of products, so will only offer solutions within the limited scope of a single company. An independent financial advisor will be able to select the best products from a wide range of companies, providing more flexibility and better growth for their customers.

What is an independent financial advisor?

An independent financial advisor is someone qualified to help you select the best financial product for you. They may help with investments, retirement planning, private wealth management, and insurances. The minimum qualification they should hold is a Professional Diploma in Financial Advice, which allows them to use the letters QFA (Qualified Financial Advisor).

There are other qualifications available as they gain experience in different areas, such as SIA (Specialist Investment Advisor) or CFP (Certified Financial Planner). However, the minimum you should accept is a QFA. If you’re unsure about your advisor’s suitability, never be afraid to ask to see their qualifications or ask about their experience. Any genuine advisor will be happy to put your mind at ease.

The benefits of private wealth management from an independent financial advisor

The benefits of using experienced independent financial advisors, like Mason Wealth Management, are substantial. Although their order of importance will vary from person to person, below we’ve highlighted some of the key reasons relevant to all customers.

Advice tailored to your specific needs

Using an experienced independent financial advisor to deal with your private wealth management means you have the freedom to choose the best product for you. This is because they are not tied to any family of products. This allows them to use a mixture of different products based on performance and your goals. This ability to tailor their advice based solely on what is best for you, and not what is best for you within the constraints of a single organisation, can dramatically improve your future financial health.

This level of flexibility isn’t just beneficial to wealthy people. While those with complex investments and retirement planning will benefit, we can also help those with less money to invest or put into a pension. When you have less to invest it’s even more important your money works as hard as possible for you but remains safe at the same time. We can ensure any money you use is maximised.

A personal approach that’s responsive and attentive

When you deal with Mason Wealth Management you are dealing with the owners of the business. We won’t be transferred to another region or get a promotion; we are always here. This has several benefits. It means we can build a closer relationship with our clients, which helps us to better understand your goals and why they’re important to you.

Because we build lasting personal relationships with our clients, we also have a strong sense of accountability. Our business is only as strong as the advice and guidance we provide. We have a large pool of satisfied clients, and ensuring they achieve their financial goals is always our priority. Most of our clients are long-standing, and we take looking after their needs personally.

We also review how your products are performing regularly, so we can make sure everything is on target to achieve your goals. If your needs change, we can adjust accordingly to ensure your new goals are met.

Transparency is crucial

Whether it’s advice about products or our own fees, transparency is crucial. We won’t shy away from any of your questions. Ultimately, for us to succeed our clients must succeed.

A broader range of expertise to guide you

Mason Wealth Management was established in 1998 and has been helping the people of Ireland look after their finances ever since. We are proud of our track record and have gone from strength to strength, growing alongside our clients.

We have lots of experience and a broad range of expertise. Whether it’s retirement planning, investments or business advice, we can help. Independent financial advisors are generally dealing with a much broader range of products and solutions, which increases their awareness of the market and what is possible.

Get in touch to take the first step on your path to financial freedom

Whether you think your needs are big or small, we’re always happy to hear from you. Even if you’d just like an informal chat about ideas you might implement in the future, you can call us on 01-9695786, or send us an e-mail at info@masonwealth.ie.