Delivering Unique and Bespoke Wealth Management
Chetwood Private Wealth provides a calm and trusted presence, blended with a bespoke service level, to help guide you through life’s uncertainties.
The CPW planning service provides independent, holistic, and bespoke advice for:
Entrepreneurs and Business Owners
Those acting in a Fiduciary Capacity
Working closely with our clients, we must first develop a deep understanding of our client’s life goals and objectives, and how these interact with their families, their business, where they wish to live etc.
To ensure a seamless and holistic advice process, CPW work in partnership with you and your other trusted professionals (lawyers, accountants etc) to design, research, implement and monitor a personalised strategy for you which will meet your short, medium and long-term goals, whilst retaining sufficient flexibility to cope with our ever-changing world.
(Trustees, Attorneys, Deputies and Executors)
Prior to researching and implementing any solutions, we need to ensure we have a full understanding of your existing situation and your portfolios etc and their relevance to your current objectives. Due to the broad scope of financial planning, we generally address matters under nine headings and the areas which we believe should be considered, to ensure a holistic plan can be fully developed are as follows:
Lifestyle – what are my plans for our family, home, business, retirement, gifting and philanthropy etc?
Budgeting – how much income do I need, when, and how is it best generated?
Liquidity – how much capital do I want to hold in cash to cover life’s emergencies?
Protection – what happens to our plan if I am ill, or die prematurely?
Borrowing – do I need to borrow more, or should I pay down debt?
Retirement – what do I want to do when I sell the business or retire from my firm?
Tax Planning – how do I meet capital or income needs in a tax efficient manner?
Investment – what investment styles should I use and how should I invest my money?
Intergenerational Wealth Transfer – should I give my money away now, or keep it to cover later life issues? Should I use a trust to hold assets or should I wind up an existing settlement? When should we involve the children in our planning?
DEVELOPING A PLAN
“He who fails to plan is planning to fail.”
- Sir Winston Churchill
“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”
Having discussed matters with you, we may decide not to address all of these nine areas at once, or indeed at all, however we recommend each area is given due consideration.
The output from this initial discussion will be the creation of a personal planning report which will outline areas to consider further and broad solutions for each of these areas. It will also act as the platform from which your personalised strategy can be developed.
In setting out a summary of ‘What We Do’, we understand that within the financial services industry, there is a disconnect between what advisers perceive their clients want, and what clients actually want. Ongoing research and experience gained over decades, rather than following the latest trend has helped forge our planning process.
In the interests of brevity, we refer any potential clients to an excellent article in the FT dated November 30th, 2018 written by Nikou Asgari and entitled ‘What FT readers really want from their financial adviser’. We would summarise the focus of the article as the "Three T’s" – Transparency, Trust and Tailored Advice. In applying the articles ‘3xT’s’ test to our process, we can state:
Every CPW client is provided with either a personalised ‘Letter of Engagement’ or a personalised ‘Fee Schedule’ which we require you to sign before any work is undertaken on your behalf. In the majority of cases, our financial planning fees are quoted as a ‘flat fee’ (e.g. £7,250 pa paid monthly or quarterly in arrears), rather than a percentage, unless a percentage basis is requested by our client. Currently, in addition to our financial planning fees, our investment management fees are charged as a percentage (generally between 0.3 and 0.5% pa), however, we quote what that will be in ‘£’ terms at inception and each year thereafter. Our Annual Review documentation restates your financial planning fee and quotes all investment annual management charges from all investment houses.
Our aim is to become your trusted adviser. We never take this for granted and are acutely aware that trust takes time to build and can be lost in an instant. We take pride in the fact that we have numerous client relationships which we can measure in decades, rather than months or years. That all said, this is an area best left to our clients, and we refer you to the ‘Client Testimonials’ page of this website.
We strongly believe in providing ‘tailored’ or personalised advice. This means we can accommodate most personal preferences, for example, we can build bespoke portfolios to incorporate investment areas which you may prefer, or which will further diversify your existing assets. This discipline has allowed us to develop the suite of solutions we currently offer, but also gives us the flexibility to develop new ones as demand or the environment changes. Part of the tailoring process means that we may deploy trusted partners to assist us in helping to meet your requirements. This highly flexible approach to planning can only be offered, we believe, by an independent wealth manager.
For over 20 years, Ian Scott and his team have rationalised my financial investments, established a coherent strategy and guided me and my family through the forever changing financial demands and needs of the various stages of our lives. This has been done with warmth, diligence and professionalism that has always been most reassuring.
PL, Cornwall - Retired partner SW law firm
Chetwood Private Wealth
60 High Street
Tel: 01823 666 809
Fax: 01823 666 552
For any general inquiries, please fill in the following contact form: