Financial planning for high net worth individuals

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Financial planning for high net worth individuals

Financial planning for high net worth individuals requires industry leading expertise, proven experience, and the drive to achieve superior, outstanding results for each and every client.

At Collins Mann our success is grounded on three core philosophies:

    1. Understanding – know the client
    2. Leverage – pursue every opportunity
    3. Service – deliver outstanding personalised attention and results.

High net worth individuals require financial planning advice that is tailored to their specific needs and prepared, communicated, and executed in a way that suits their living and working arrangements.

Understanding the client

Being a high net worth individual, you have financial planning needs that include more complicated issues than the average Australian business owner and investor.

As a general rule, high net worth individuals need specialist financial planning because their needs are more complex, they require more time and attention, and they understand that smart decision making requires a variety of disciplines and a holistic approach to the client’s needs and circumstances.

At Collins Mann, we understand that the wealth of high net worth individuals often does not sit in the individual’s name but will be comprised in trust and companies and other controlled family structures.

To properly manage these arrangements, high net worth individuals also need specialised:

  •  investment advisory services;
  •  tax planning and compliance services;
  •  insurance and risk management advice;
  •  superannuation and pension fund advice;
  •  asset management and portfolio administration services;
  •  legal and asset protection advice;
  •  personalised accounting and bookkeeping services;
  •  profile and reputation management services; and
  •  family office and lifestyle concierge services.

High net worth individuals typically look to pass on their wealth in a structured and controlled way through family trusts and companies, rather than waiting until involuntary life events occur, like death and incapacity.

Delivering strategic business and investment advice with a focus on succession and risk management is essential to effective financial planning for high net worth individuals.

Most high net worth individuals have unique family concerns that impact their thinking on financial and business matters. We understand that ensuring your portfolios serve your personal values and arrangements (not the other way around!) is very important to you.

Leverage every opportunity

Your success has arisen not by good fortune, but hard work and effort. High net worth individuals expect the same commitment from their advisors and demand more time and attention than the average financial planning client.

Financial planning can be tough and very challenging, especially if you’re a high-net-worth individual. Not only are the nuances of financial planning fairly complicated, but things in the industry are also constantly changing, which often makes it difficult to keep up.

Dan Moskowitz, Investopedia

High net worth individuals need a financial planning advisor that will pursue every opportunity by focussing on:

  • the financial efficiency of your legal structures;
  • opportunities for tax minimisation and savings;
  • tightening legal arrangements to avoid costly disputes;
  • maintaining peak asset and investment performance;
  • keeping track of financial opportunities; and
  •  protecting assets from financial risks.

High net worth individuals will not be satisfied with a ‘set and forget’ approach, but need advisors who continually monitor, maintain and advance their financial position.

High net worth individuals require financial planning advice that is tailored to their specific needs and prepared, communicated and executed in a way that suits their living and working arrangements.

We, at Collins Mann, are performing to advance your financial interests and achieve the best financial outcomes for you and your family

Delivering personalised service

High net worth individual clients typically have less room in their day to devote to the tasks that they outsource to their advisors. But they still demand and expect ‘better-than-market’ results for their continued success.

High net worth individuals are generally not comfortable relinquishing control of their hard earned fortune to an external party and so, despite having less time, still want to keep abreast of the performance of their businesses and investments.

High net worth individuals need an estate advisor who will “go the extra mile” to impress their high net worth individual clients as we know they will not tolerate advisors who deliver mediocre service.

They need:

  • a financial advisor who will respond efficiently to every call, email and contact point from them and their family members;
  • a financial advisor who will thoughtfully anticipate the market movements, legal developments and financial opportunities relevant to their portfolios; and
  • a financial advisor who will effectively communicate and regularly report on portfolio performance outcomes, with explanations of material changes and recommendations for continual improvement.

At Collins Mann we implement rigorous client review and reporting arrangements to ensure you always stay on top of the positioning of your assets and the work we are performing to advance your financial interests and achieve the best financial outcomes for you and your family.

Take the next step

To find out more about how Collins Mann can engage in financial planning for high net worth individuals, and service your specific needs and requirements, contact one of our specialist financial advisors today.

Financial Services

Our services include:

  • Values-based financial planning.
  • Wealth accumulation strategies.
  • Tax-effective strategies.
  • Risk management.
  • Retirement planning.
  • Estate planning.
  • Divorce financial settlement analysis.

SERVICE AREAS

Brisbane Sydney
Melbourne Adelaide
Canberra Darwin
Perth Tasmania
Gold Coast Sunshine Coast

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