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Wealth Management For Entrepreneurs (Client Journey)

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Wealth Management For Entrepreneurs (Client Journey)

  1. 1. Wealth Management for Entrepreneurs THAT STARTS WITH YOU Plan Better. Invest Better. Live Better. C lear Thinking Discovery L ifestyle Financial Planning E vidence Based Investing A llowance & Tax Planning R isk Management E state Planning R eview
  2. 2. Wilcocks & Wilcocks: Testimonial “I would recommend Martin and his team at Wilcocks. The manner in which they supported​​a recent investment made by their client into our business gave rise to a number of complexities during the process which were calmly and professionally managed by Martin’s team, and they ensured that the timing of the investment proceeded to plan. Their approach combined a very positive blend of profession- alism and personal engagement, and they demonstrated to me the breadth of their many years of experience in handling wealth management and investments” Martyn Best CEO Document Direct Limited Martyn Best Jon Taylor “I have been concerned for some time that my pension fund might not be sufficient to achieve the results I expect and in recent times I have noticed a decrease in my total investment. On looking for prospectively improved solutions I discovered an investment opportunity in a rapidly growing local business. I discussed opportunities with the owner of the business and needed a way to take money from my existing plans to invest into this opportunity. I was referred to Martin Wilcocks who helped me to understand my option for releasing my investments with current providers and consolidating them into this more ex- citing opportunity. The process took some time but now I can see my investment growing and have regular reviews to ensure optimal growth of the funds. I would be happy to recommend Martin to anyone looking for investment solutions.” Jon Taylor Business Analyst Brabners LLP Martin Wilcocks
  3. 3. Wilcocks & Wilcocks: About Us What We Do CLEARER is a 7 step Wealth Management Program designed to make our Clients financially bulletproof. Who It’s For Our Niche is Entrepreneurs with one eye on a sale or their retirement, who have lost track on what their investments and pensions are worth, the charges they are paying, where their money is invested, and what returns they are getting. They are also typically in the dark as to how it’s all going to play out in retirement, the financial risks that are present in their private and professional lives, and how it’s all going to pass to their beneficiaries safely and tax efficiently. How We Help Solving all of the big financial issues for you as a busy Entrepreneur, using our CLEARER program, helping you to plan, invest and live better. We understand that your personal and professional lives are often intertwined, so we deliver a comprehensive range of services and support, alongside a cohesive strategy that incorporates all aspects of your life. We listen carefully to understand your aspirations, objectives and what’s really important to you. We listen first, plan second and then we implement. We are there for you every step of the way to ensure you stay on course. We Are Different Most financial advisers and wealth managers tend to focus on financial products, particularly investments. We take care of all that but our main initial focus is on you, and in linking your goals and values with your money. On the money piece, we deploy clever portfolio design, clever diversification, and clever management of costs, with science and evidence-based Investing that will enhance your wealth. And with investments that work, and without taking excessive risk, you can spend more time on with the things that matter most in your life. We take away the hassle of wealth management, keeping you informed and in control. Featured in: The Sunday Telegraph, March 2015 The Mail on Sunday, September 2015 The Sunday Times, April 2016 We set the business up so we could be impartial. We wanted to be different and deliver value; to love the work we do. Our goal is to build a family business to be proud of. Brothers & Founders of W&W Martin and Robert Wilcocks were both voted as Top 250 UK Advisers (Vouched For, 2016). Martin J. Wilcocks DipFA AIPW Robert P. Wilcocks DipFA CFP 5 4.6 Values Integrity - We believe the reputation of our family name is of utmost importance, which is why we named the business Wilcocks & Wilcocks Trust - Our client’s financial security and needs come first. Always. Dedication - We built our business out of the worst recession in 100 years, and survived. We have proved we are hardworking and committed Innovation - We are setting new standards in how Entrepreneurs plan ahead and invest, and in how we link their finances to their life goals. Passion - Life’s not a rehearsal. We get one shot at an enjoyable, fulfilling life, so we are always engaged, enthusiastic and energetic.
  4. 4. Wilcocks & Wilcocks: About Us (continued) Working With Other Advisers If you already have other professional advisers in place, it is essential that your financial adviser is able to fit in and work with them effectively. We have a great deal of experience working with other professional advisers including accountants, lawyers, and corporate financiers. We have references from such professionals backing this up. The Wilcocks Professional Network If you do ever need another trusted professional to deal with a specific issue, we have an extensive and trusted network of contacts we can connect you to. Members of our professional network have complementary skills and expertise. With our guidance, they will work together seamlessly to manage all aspects of your finances. Specialist Services Including corporate finance, retirement planning, pensions and property. Where appropriate, we can help you to tap into the tax benefits associated with your pension to purchase business premises and factories. By using your pension, you can reduce your funding costs by as much as 40%. We will guide you through the pensions framework, keeping it clear and simple at all times. How Much is Enough? It would be nice to know how much is needed for you to retire, semi-retire or simply achieve financial independence from your business. You may have an idea yourself but would like an expert to confirm if you are on the right track and to ensure you haven’t missed anything. We do these calculations for you and we can also deliver smart strat- egies that may bring that date forward. We can provide exit or funding options that you hadn’t known were available and assist family members or other internal successors to complete a management buy-out (if that is your wish).
  5. 5. Wilcocks & Wilcocks: Testimonial “ Martin protected the ownership position within our business, by ensuring if the worst was to happen, our shareholdings pass back to the company, with equal value going to our beneficiaries via a business trust. He has also protected our profits, such that the company is compensated if either one of us as the key shareholding directors pass away or suffer a life-threatening illness. It’s actually enhanced the value of the company in general terms too and enhanced our sale potential ” Graham Withe Managing Director Webtise Ltd Graham Withe Justin Young
  6. 6. Wilcocks & Wilcocks Professional Network Funding & Finance Tax Planning Legal Services Accounting Services Business Consulting Human Resources Professional Network Corporate Finance Specialist Services Business Premises Acquisition Asset Finance Commercial Insurance Secured & Unsecured Loans Initial Public Offering Commercial Mortgages Specialist Services BizEquity does not represent or endorse the accuracy or reliability of any advice, opinion, statement or any other information displayed or distributed through this report or its website. The estimates and data contained herein are made using the information you provide, publicly available information and data, and rules of thumb for different industries. BizEquity has not audited or attempted to confirm this information for accuracy or completeness. This report should not be used to obtain credit or for any other commercial purposes. This report is the intellectual property of BizEquity and the information provided herein is provided for your internal use only and may not be copied or redistributed for any reason. Your use of this report and the information provided herein is also subject to the online terms of use and privacy policy of BizEquity. Page 25 LEVEL 1 LEVEL 2 LEVEL 3 LEVEL 4 Value Map Our goal is to help entrepreneurs “climb the valuation mountain” illustrated above to the highest level possible by internalizing certain key valuation and operational concepts associated with discovering, monitoring and optimizing business value. Every business will go through stages of development and hopefully growth, and we want to be a driver of this process. Once the basics of business valuation are understood, the path towards enhancing value will become clearer and more “real” in the eyes of the owner. Businesses of all types and sizes get business valuations because they are interested in discovering what their most valuable asset is worth. Taking this first step is a critical one, but only the first. Having “discovered” the business value, the next steps towards proactively managing value involve monitoring and optimizing the value of your company. One central theme that is as simple as it is important concerns the so-called “size effect” or “size premium”. It is an empirical fact that companies with higher revenues and earnings are worth more than their smaller counterparts. Achieving “exponential” value growth is possible due to the dual impact of higher earnings, e.g. higher earnings will directly increase value at any multiple – AND higher earnings will alone lead to a higher valuation multiple. Exponential Business Value 1X < 500K 500K- 2MM 2MM- 10MM 10MM+ 3X 5X 10X £ £ £ £ £ £ 04/04/16 Powered by BizEquity Business Valuation
  7. 7. Wilcocks & Wilcocks: Testimonial “A refreshing change, Rob is someone who knows what he is doing, and is in it for the long haul. He has helped with pensions, insurance, and also some strategic advice which helped grow our business overseas and reduce costs - I would highly recommend him” Ross Baigent CEO Cataclean Global Graham Fraser Ross Baigent
  8. 8. Our Journey Together: CLEARER® Strategy Stage 1 – Clear Thinking Discovery • The purpose of the Discovery session is to help you decide if we are the right adviser for you. • We will ask you about your goals, ideal lifestyle, concerns, values and ambitions both personally and for your business. • This includes the E, V and O of our EVOKE process. We Explore, create your Vision, and work together to overcome any Obstacles blocking you. To help we have some structured exercises such as the ‘3 Questions’, ‘Hearts Core Grid’, and ‘LifePlanner’. • We will audit your existing financial situation by looking at your business, personal details, family, income, expenditure, savings, investments, pensions, personal insurance and employee benefits. Stage 2 –Lifestyle Financial Planning • We will identify your ‘Number’- the amount of money you need to achieve and maintain your ideal lifestyle. • We will prepare financial statements such as Income & Expenditure, Net Worth, and Cash Flow, to bring clarity and organisation to your finances. We will also look at current levels of investment risk and tax within your plan and consider in conjunction with what we learnt from Discovery. • We will model different ‘what if’ scenarios to bring to life the information gained from the life planning exercises and your personal audit. • Our strategic advice and recommendations will be impartial and based on your particular situation, and documented in a CLEARER report. You will not be obligated to implement any of our recommendations. A complete inventory of what matters to you, in priority order, with a complete vision on what a fulfilling life looks like to you, & a strategy to overcome possible road- blocks, delivering clarity, purpose and energy. Typical Outcome Know & understand your Number. Become financially well organised, with clear, prioritised goals. Typical Outcome We understand your personal and professional lives are often intertwined, so we deliver a cohesive strategy that incorporates all aspects of your life. Our CLEARER® service is tailored to your specific needs and it works like this; “ You expect your financial planner to be impartial, completely transparent and objective when it comes to helping you to decide what to do. We hope we can earn the right to work with you as your trusted adviser for many years to come.”
  9. 9. Implementation Stage 3 - Evidence Based Investing • We will explain how markets, work, the difference between speculating and investing, and how we use science and evidence to capture returns. • We will explain the behaviours required for successful investing and perform a psychometric test to anticipate your risk tolerance. • We will consider the results relative to your plan, goals, and capacity to take risk before designing your asset allocation & portfolio construction. • We will advise the most suitable products to hold your EBI portfolio, including pension, SIPP, ISA, GIA, Trusts, and % on/offshore Investment Bonds. Stage 4 - Allowance Planning • We will look at the level of income tax you are paying and explore ways to reduce this. • We will analyse your capital gains position and look for ways to minimise and offset any tax. • We will analyse all tax allowances available to you, as well as any tax-favoured investments such as EIS and VCT. • If you own a business we will explore methods of reducing corporation tax and extracting profits and dividends tax efficiently. Stage 5 - Risk Management • We will consider catastrophic scenarios such as death or illness, and how this could affect your financial plan, including how these ‘what-if’s’ may affect your family’s current and future lifestyle. • We will consider how the same scenarios would affect your company shareholder ownership and business profitability, alongside issues that may arise for your fellow shareholders & families. • Lasting Powers of Attorney ensure people you trust can handle your health, well-being, property and financial affairs should you be involved in a serious accident or suffer an illness that prevents you from acting for yourself. • If you have business or personal insurance needs we will advise on levels of cover and a suitable provider including shareholder protection, key person insurance and personal life; whole of life, critical illness, private medical and income protection insurance. Stage 6 - Estate Planning • We will ensure your Will & Powers of Attorney are up to date and in line with how you wish to manage and pass on your estate. If you have minor children we will nominate guardians to ensure they are cared for by people chosen by you if the worst was to happen. • We will explore the suitability of various Lifetime and Will Trusts to protect your personal and business assets for future generations. • We will discuss gifting and philanthropy and if necessary build a ‘Spending and Gifting Program’ to pass on wealth in a controlled, tax efficient manner. • We will analyse the level of inheritance tax that could become due on your estate and identify and discuss various options for mitigating this tax. Our Journey Together (continued) Maximise pension, ISA and CGT allowances and get back £20K on every £100K of Corporation Tax paid. Typical Outcome Peace of mind about investing, a portfolio linked to your goal(s) and c.£15kp.a. on every £1M invested. Typical Outcome Protect shareholder value, businesses’ profits and maintain the lifestyle of shareholders’ families. Typical Outcome Pass wealth to children / beneficiaries safely and tax efficiently. Typical Outcome
  10. 10. Stage 7 - Review - • Our service is designed to last a lifetime. Our on-going relationship will continue for as long as you feel you are receiving value from us. • We will update your plan to reflect any changes in your objectives and circumstances. • We will account for legislation, taxation and economic conditions so that you stay on course. • We realise that sometimes members of your family face challenges, which you would like to help them through. We can discuss your options for any broader family issues as they arise, which could include: • Care home funding & asset protection - (property, savings and investments). • Paying for children or grandchildren’s Education. • Help with property purchase or downsizing. • Debt repayment or capital raising for Children Over the years typical annual reviews with Financial Advisers were just really about a cup of coffee and catching up on how the family were. Not anymore. Our review process in a serious business where we record hard facts and data about how we have performed over the past 12 months. This is what it looks like; Our Journey Together (continued) Remain focused on your plan, on track with goals, and avoid emotional mistakes related to wealth. Typical Outcome Portfolio Valuation - 30 June 2005Mr Client: £37,862.14Mrs Client: £323,807.99 Profile’s Investment Management Added ValueInvestment return compared to market average: Asset Allocation UNCOVER YOUR BUSINESS POTENTIAL Day Four Income & Growth Market value as at 18/07/04 = £375,109.73 Market value as at 30/06/05 = £361,670.13 % Return this year = - 4.56% % Return life of Investment = + 6.57% This year + 3% ▲ ( £11,250 better off) Life of investment + 4.2% ▲ Profile Partner Service Scorecard A/Shares 34.55% I/Shares 24.99% F/Int 24.99% Prop sec9.34% Cash 3.21% Dir Prop 2.01% Core Services Provided • Review of financial objectives (all on-track OR modications made during year) • Re-balance of asset allocation (within allowable parameters) • New Pension strategy facilitating move to retirement • 2 Review meetings held during year Profile Value Added Services - year to date:• Pension Strategy - £3,100 tax saving annually • Compensation due to processing delays - £150 • Error on Prudential statement - £628 • Client Education Seminar - Aug ‘04 • Boardroom luncheon - 7IM • Jupiter Hedg “ When I saw the actual value that Martin and Rob had added over the year it really reminded me how important they are to me” Mary Elson Mary Elson
  11. 11. Wilcocks & Wilcocks: Testimonial “We weren’t working towards any personal financial targets as we were just so busy in our day to day business. Martin worked with us to develop a financial plan, that showed us what we needed to do to today, in order to achieve and keep the life we want in the future for us an our families. He has given us total clarity over our future.” Jonathan McHale & Jeffrey Arnold Directors Tag Scaffolding Ltd Jonathan McHale Jeffrey Arnold
  12. 12. Transactional Services Financial Services From To Financial review and strategic plan £3000 uncapped Personal pension review & analysis £1250 uncapped Company pension review & analysis £3000 uncapped Annuity advice and implementation £1250 uncapped Income drawdown advice £1250 uncapped Protection advice and implementation £1250 uncapped Pension Transfers £1250 uncapped Estate Planning Services Single Mirror Wills £295 £395 Lasting Power of Attorney – P&F £475 £575 Lasting Power of Attorney – H&W £475 £575 Lasting Power of Attorney -­Package £775 £975 Lasting Power of Attorney – Register £390 £490 Right of Residence Trust £675 £775 Life Interest Trust £775 £875 Discretionary Trust £875 £975 Disabled Persons Discretionary Trust £975 £975 Business Property Relief Trust £975 £1295 Nil Rate Band Discretionary Trust £975 £1295 Right of Residence Will Trust £975 £1295 Pilot Trust £1975 £2975 Spousal Bypass Trust £2975 £4975 Asset Protection Trust £4975 £5975 Advance Decision (Living Will) £275 £375 Parental Responsibility Agreement £975 £975 Severance of Joint Tenancy £975 £975 Transfer of Ownership £325 £325 Declaration of Trust £325 £1975 Will Codicil £125 £225 Draft Letter of Wishes £125 £225 Document Storage £100 £125 Hourly Rates From To Directors £325 Fixed Chartered / Certified Wealth Managers £275 Fixed Paraplanners £125 Fixed Administrators £60 Fixed Our Fees (continued) Wealth Management Client Journey – CLEARER® C lear Thinking Discovery L ifestyle Financial Planning E vidence Based Investing A llowance Planning R isk Management E state Planning R eview Annually Additional Private Client Services Included The Concierge Service Removing The Complexity & Hassle from Your Financial Life The Property Sourcing Service Using Our Network to Find You The Right Property The Easy Way The Capital Raising Service Debt Funding & Raising Equity via Alternative Investment Market (AIM) Unlimited Face to Face, Telephone & Email Access Phone Calls & Emails Returned Within 12 Hours The Professionals Service Providing Strategic Updates to Your Accountant & Other Advisers Supplying End of Year Taxation Information (As Required) Recommending Suitable Professionals as Other Needs Arise Ensuring Your Wider Team Provides Coordinated Professional Advice Second Opinion Service Considering New Ideas from Whatever Source They Originate Fees Fees will be fixed based on size, complexity & value factors. Example Ongoing Advice Fee: If your net worth is £5Million our fee may be 1% or £50,000 per annum. If your net worth is £5Million and you require extended wealth management services that also support additional family members our fee may be £75,000 per annum. Fees can be taken from your portfolio or invoiced to you separately. Investment Management Implementation of Evidence Based Investment Portfolio Needs Assessment Existing Portfolio Review Psychometric Risk Profiling Asset Allocation Modelling Portfolio Construction Turnkey Asset Management Program Fees Fees will be fixed based on size, complexity & value factors. Example Fee (Cash / Liquid) If investing £500,000 an initial fee might be 1% or £5,000. Example Fee (Transfers of Existing Assets) If investing £500,000 via several transfers an initial fee might be 2% or £10,000. Fees can be taken from your portfolio or invoiced to you separately. Ongoing Management of Evidence Based Portfolio Ongoing Investment Management Online Access to Custodian Platform & Valuations Rebalancing (systemised ‘buying low, selling high’) Annual Portfolio Reports Fees Fees start from 1% of assets under management. Minimum monthly fee £125 Example Ongoing Advice Fee: If managing £250,000 our ongoing fee might be 1% or £2,500 per annum. Fees can be taken from your portfolio or invoiced to you separately. Our fees are always based on three factors. 1) Value; 2) Complexity; 3) Size. Our fees also cover the regulatory costs of providing advice, specifically FCA fees; independent compliance; Financial Services Compensation Scheme (FSCS) levy; and Professional Indemnity (PI) Insurance, which all help to guarantee and underpin regulated advice.
  13. 13. Wilcocks & Wilcocks: Testimonial “ We left it and left it and eventually followed our Accountants advice and went in to see Martin. I can’t tell you how good it feels to have done so. Over the last year we have worked out what we need to put aside from the company to build our future retirement pots, reduced the company corporation tax, and our personal tax bills, organised our pensions, and arranged wills with our wives that include a business trust to eventually pass everything on safely and tax efficiently to our families. Working with Martin has been a breath of fresh air and we would recommend him to any other business owner who want these things taken care of but like us just didn’t have the time to sort it out” Adam Mullin & Collin Doran Managing Partners Solutions in Service Ltd Collin Doran Adam Mullin
  14. 14. 0845 200 4041 info@wilcocksandwilcocks.co.uk www.wilcocksandwilcocks.co.uk Liverpool Office 8 Water Street Liverpool L2 8TD London Office 1 Fore Street (WeWork serviced office) London EC2Y 5EJ Our Guarantee We are passionate about providing value for our clients. If a client believes that we have offered no value, we will provide a full refund of fees charged - no questions asked. Past performance is not a guide to future performance. The value of investments, and any income from them, can fall as well as rise and investors may not get back the amount invested.​This information does not in any way constitute investment advice. W&W is authorised and regulated by the FCA, firm reference 501064. “I have confidence in both your ability as advisers, and in the advice you provide. I have no hesitation in introducing clients to Martin & Rob.” Fergal O’Cleirigh Partner & Head of Commercial, Bermans Solicitors “Martin and Rob are both fantastic advisers, I’ve known them for over 15 years. They look after my entire financial position, including my estate, retirement and investment plans and do a great job.” Frank Brennan Director, Safety Lane Ltd “I contacted Martin, having met a number of other financial advisers, with the intention of finding somebody I knew I could trust to refer our clients to. He has now added value in many ways for my clients and the service has been excellent.” Paul White Managing Director, APH Accountants “I have to say I found Martin to be highly professional, knowledgeable and capable.” Dr Richard Azurdia Consultant & Head of Dermatology, Liverpool NHS “ I suggest Martin’s service to other business people I know all the time. He is always thinking of my needs and what I want to achieve. He focuses on what things could be if that makes sense. It rubs off on me very well and he encourages me to think big” James Quilty Director, Kelsall Service Station Ltd “ Martin is the consummate professional who always puts his clients needs first. He has helped us plan a number of significant UK and offshore projects on behalf of myself and my business partner Joe Dwek CBE” Roy Kenny Director, Verum Victum Healthcare Ltd

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