Westgate Wealth Management Ltd

Over the past decade or so, responsibility for planning your financial future has shifted significantly towards the individual. To support this, expert and regular financial advice is crucial. As well as value you can measure in pounds and pence, there are many non-tangible benefits to receiving financial advice. Below we consider some specific ways advice can deliver these benefits:

  1. Peace of mind and avoiding scams: We work with you to identify your goals and construct a plan that will help you achieve them over the long term and will ensure you don’t invest where it’s unwise to.
  2. Confidence to invest: We help you find the right balance between risk and reward with your investments, as well as ensuring your portfolio is diverse. We tailor this to suit your attitudes, current circumstances and objectives. Once you’ve invested your money, we help you stay the course to achieve your goals with ongoing reviews, guiding you through the changing investment conditions.
  3. Using the right tax wrappers: By putting your investments in the right ‘wrappers’ we are able to ensure you will make the most of the tax reliefs and allowances that are available to you.

By working with an adviser and gaining access to the benefits this provides, some of which we just explored, how does this then translate into monetary gain and increased financial security for our clients? Below, we identify just two examples:

  • On average, a person using a financial adviser is £47,000 better off when they retire.1
  • The value of advice amounts to an additional 2% per year.2
Past performance is not indicative of future performance.

So what’s holding you back? Contact us today, for further information, or to book a no obligation chat:

References: (1) The International Longevity Centre UK calculated that if a person received professional financial advice between 2001 and 2006 it resulted, on average, in them being £47,706 better off in terms of pensions and financial assets once fees and charges had been taken into account in 2014/15 (What it’s worth – revisiting the value of financial advice, ILC, November 2019). (2) According to independent analysis by Numis Securities (September 2020) based on comparing annual returns for St. James’s Place clients against those who managed their own investments. The research, which covered all clients’ SJP pension investments, found that between June 2010 and June 2020 the average growth achieved was 7.7% pa. This means £100,000 invested at the start of the period would be worth £210,000 by the end. By comparison, the same exercise for pension clients of a large firm where investors usually make their own investment decisions achieved an average of 5.5% pa over the same period. So on average £100,000 invested by a non-advised client grew to £171,000 over the ten years. This analysis didn’t include any tax benefits from advice and so Numis’s researchers concluded that the main difference between the two was the ‘greater long-term discipline and lower emotion an adviser provides’.

Westgate Wealth Management Ltd is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website www.sjp.co.uk/products. The St. James’s Place Partnership and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.

SJP Approved 25/04/2024