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Dual-expert wealth management approach key to success for Birmingham’s Tilney
Based at Baskerville House in the heart of Birmingham city centre, Tilney is an award- winning investment and wealth management group that builds on heritage of more than 180 years. Tilney’s clients include private individuals, families, charities, professionals and entrepreneurs who together entrust Tilney with over £23 billion of assets. Tilney’s ethos is that “our client’s personal
wealth is our personal responsibility” and this motto is embraced by the management team here in the Midlands. The team takes pride that the biggest source of new clients are referrals from satisfied existing clients and professional connections. Three members of the senior team in Birmingham are Neil Watson, Managing Partner for Financial Planning, Dr Adam Parker, Head of Midlands Investment Management, and Martin King, Head of Key Clients. One of the distinct aspects of Tilney’s service is
its dual-expert approach, whereby the financial planning team work collaboratively with the investment management team to provide a highly personalised solution for clients. Martin King commented: “financial planning and investment management are two very different sets of expertise, but by working together, we can assist our clients with all their wealth planning needs.” The financial planner will take time to get a
deep understanding of a client’s personal circumstances, goals and risk profile before advising on a financial plan. This will typically involve building a cashflow model to forecast future income and outgoings. This helps clients understand whether their savings and investments are on track, and enables Tilney to test different scenarios. Tilney’s approach to financial planning involves using tax allowances – including ISAs, pensions and capital gains allowances – to support clients with areas such as retirement planning, estate planning and Inheritance Tax mitigation. Tilney believes that alongside a well-designed financial plan, clients need a robust investment strategy that is reviewed on an ongoing basis. One of the most basic rules of investing is to not have ‘all of your eggs in one basket,’ and Tilney’s investment managers will therefore put together an appropriate mix of investments to meet their clients’ short, medium and longer-term needs. Portfolios typically incorporate equities, bonds and targeted absolute return funds selected on the basis of rigorous research. It is an approach that has won many awards over the years, and recently the 2017 FT Private Client Wealth Management survey revealed Tilney to have the strongest five-year track record for managing balanced portfolios. Tilney even offers the option for clients to
borrow against their award winning portfolios in certain circumstances – a popular facility, but one that isn’t offered by too many wealth management companies.
64 CHAMBERLINK February 2018
L-R: Martin King and Neil Watson When asked what was keeping his team busy
at the moment, Neil commented that “pensions and retirement planning is currently a major area of interest. With the recent changes in pension legislation, the attractive and flexible options of accessing pension benefits at retirement, the tax reliefs available when funding pension arrangements and the extremely attractive benefits pension policies now offer when it comes to Inheritance Tax planning (and passing assets down the generations) more and more clients are seeking advice. This not only relates to their existing pension pots but also regarding ways they can make additional contributions into these extremely tax-efficient investments.” Whilst taking advantage of the new
flexibilities does seem a sensible option, Neil commented that it is “extremely important that individuals seek professional financial advice, as some of the pension schemes people are looking to transfer away from may have exit penalties or guarantees that mean the decision is not as straightforward as an individual may expect. Tilney wants to ensure that key benefits are not lost upon transfer.” The wealth management team at Tilney works
on a clear and transparent basis, and after an initial meeting, clients are issued with a Scope of Work confirming the work that the adviser will undertake on their client’s behalf and the fees for the work, so there is no ambiguity and no hidden surprises further down the line.
Neil, Martin, Adam and the Tilney team often
work in close, long-term partnerships with legal, accountancy and other professional advice firms to deliver expert advice and bespoke investment solutions underpinned by a disciplined and rigorous investment process. Tilney’s services include discretionary investment management, portfolio management for charities, financial planning and estate tax and estate planning.
For further information please visit
www.tilney.co.uk or contact Neil on 0121 227 6320 or at
neil.watson@tilney.co.uk
Important information The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. Advice in relation to Trusts and Inheritance Tax planning is not regulated by the Financial Conduct Authority. However, the products used in relation to Trusts and to mitigate Inheritance Tax may be regulated.
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