Wealth Management for Consultants

Becoming a partner is a significant life event. You should take the time to review your new circumstances, such as changes in income, the regularity of this income and the impact it may have on your family life insurance.

In many firms, partners become self-employed and there are implications of this that you should also be aware of. Payments to your previous employee pension will cease. Consider whether you want to pay into this pension or start a new pension. Calculate how much you will be able to contribute, consider the tax allowances available to you and how to maximise these. Ensure you have an adviser who understands these changes and your needs over the coming years.

This is a common question and you should think about when you want to retire and how much you need to save and invest to support your lifestyle. Thinking about this early can make a big difference to both your retirement date and the amount you are able to draw in retirement.

Other points to consider are whether you have a plan in place for making the most of your distributions and surplus income ahead of retirement. This can enable you to grow your asset base in a tax-efficient manner.

At Rothschild & Co, we proactively manage your investments to target inflation-beating returns. When we meet partners, we often find that a significant portion of their personal capital is tied up in their firm. Consequently, their wealth tends to be concentrated in to two of our five pots: their lifestyle pot (which includes their primary residence) and their firm pot (their partnership equity). We often advise partners on how they can diversify their assets. For many, this diversification is achieved through a long-term investment portfolio – a nest egg. With a strong understanding of current assets and about expected income over the coming years, we are able to model different scenarios which can include retirement, supporting children onto the property ladder, or paying school fees.

We have a specialist team dedicated to working with partners of consultancy firms. This team understands your requirements and can deliver relevant solutions to your circumstances. We have market-leading client service* and our pricing is transparent and straightforward, with an all-in annual management fee based on the assets we manage, ensuring no hidden charges. We also don’t impose any account opening or closing costs.

Our ‘bottom-up’ investment strategy focuses on individual assets rather than market trends, aiming for long-term returns that outpace inflation. We conduct extensive research into the individual stocks and funds, seeking opportunities that align with our clients’ goals. We provide detailed cashflow modelling to help grow your asset base and frame important investment decisions, such as the impact of moving home, when to retire or maximising the returns on your income. We also offer pro-active management services to help maximise returns on cash – which has been useful for clients with upcoming capital calls.

^{*Source: Savanta bi-annual client survey. Market-leading Net Promoter Score.}

Yes, we have a specialist team dedicated to working with partners of consultancy firms who are here to make this easy for you. We can open accounts electronically (with pre-completed forms sent digitally to you) and our team are able to liaise and arrange any transfers or investments on your behalf.

Our core offering is discretionary investments, but we work with our clients across a range of areas. We provide detailed cashflow modelling to help understand important investment decisions, such as the impact of moving home, when to retire or maximising the returns on your income. We also offer pro-active cash management, offshore private banking and portfolio lending.

^{The information above is not intended and should not be construed as tax advice. Each investor should seek their own independent tax advice.}