funding your business 19


A professional approach to managing your wealth


As a successful business owner you work hard every day to maximise opportunities, keep clients happy and increase profit margins. And while for some, 2014 will be the year to expand, for others it may be time to reap the rewards of years of hard work and sell the business, writes Alison Dewar of The Business Magazine


After decades of long hours and dedication, however, deciding what to do with your hard-earned money can be more challenging than you might think.


Martyn Begbour, executive director at wealth management specialist UBS, says the secret is to take time to consider your options, not rush into quick decisions, and work with a professional adviser.


“Business people are decisionmakers, they have run a successful company, and so their natural approach can be to think they must make investment decisions straightaway, but the truth it is better to take the time to reflect,“ he said.


“We see it as an education process and a journey; some people are ready to make those decisions in a few months, for others it can take a year or more, but it doesn’t matter. For us it is about making sure they make the most suitable decisions when they are ready.“


As one of the world’s leading financial firms, UBS combines its core wealth management business with investment banking and asset management, providing clients with a range of tailored advice and investment services.


... the secret is to take time to consider your options, not rush into quick decisions, and work with a professional adviser


Among its many accolades has been the title of Best Global Private Bank and it was awarded Best Global Wealth Manager 2013 for the second year running by Euromoney Magazine.


Begbour heads up the south and South West region and also manages client relationships across Hampshire, Berkshire, Sussex and Dorset. Working alongside him in the Reading area is Toby Johnson, who brings his experience as a chartered tax adviser, while two other colleagues cover the West Country.


Begbour is very well known across the patch, having worked in the industry


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – FEBRUARY 2014 Martyn Begbour


for more than 25 years. He sees strong relationships with both the business community and fellow professional advisers as extremely important and is proud that UBS is once again sponsoring the Solent Deals Awards in 2014.


“Enduring relationships are core to the way we work. We are here to stay as part of the local community and we are hungry for business,“ he said. “I see our team as providing a London quality wealth management service by people who live and work locally.“


Begbour says that, having sold a successful business, most clients will be looking for support to manage assets in excess of £1 million.


Once a business is sold, UBS’s approach is to buy the client time to reflect on what they want to do. One way of doing this is to deposit the cash in the shorter term across several different institutions in order to manage the counterparty risk.


“Ideally, we like to get to know a client over the three-to-six month period before a transaction is finalised. Not only can we add value to the sale process, but it also gives us a chance to understand them and look at issues such as pension planning and tax liabilities,“ continued Begbour.


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“It’s all about managing their money for the future. When they are ready, we will talk to them about their plans, their attitude to risk – especially important if they have retained equity in their business – what they are looking to achieve in terms of income going forward and whether there are other generations of the family to consider.


“Some may see themselves as entrepreneurs, in which case they have to decide if they have the energy and the skills to apply to a new venture, others may want to wind down, reconnect with their family and enjoy the fruits of their labour.“


Once a business is sold, UBS’s approach is to buy the client time to reflect on what they want to do


Providing clear, uncomplicated advice is important to Begbour as he says the more clients understand, the easier it is for them to make informed decisions.


He recommends approaching the question of longer-term investment as if it was a business proposition which deserves a full due diligence process, and in conclusion says: “We work hard to understand our clients’ psychology, many will want to spend some and save some, and our role is to help them come to the right balance.


It’s about having


a grown-up conversation and being prepared to challenge them to come to the right conclusion.“


Details: Martyn Begbour 07887-450664 martyn.begbour@ubs.com www.ubs.com


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