Research uncovers outlook on wealth management

Recent research indicates that four out of every five affluent Britons between the ages of 25 and 34 are now using a wealth management service.

Further to this, a third have either begun using a wealth management solution in the past six months or intend to locate one by year end. Only six per cent of respondents stated that they did not require a wealth management service.

Experts in wealth management in Shropshire, Cheshire and other UK counties work closely with their clients, offering an extensive array of advice. Along with delivering a financial advisory service, they can also offer guidance on estate and retirement planning, along with protective policies, while providing active portfolio management.

When seeking a wealth management service, the 25- to 34-year-olds surveyed placed the greatest importance on acquiring advice on taxation, effective future planning and diversifying assets, along with advice on how to handle the responsibility and associated emotions of possessing wealth. This attitude contrasted strongly with those aged between 55- to 65-year-old respondents, who valued investment management advice as the most important service.

The study found that the main reason why those surveyed hesitated to obtain a wealth management solution was due to a lack of sufficient knowledge regarding wealth management and the services and products available. While 29 per cent of those in the 25 to 34 age brackets felt this way, only 9 per cent of older respondents in the 55-65 category shared this opinion.

The study’s findings highlight a lack of financial knowledge in younger affluent Britons.


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