Rarely can one person manage millions in assets. The dynamic and ever-changing world in which we live dictates that a person must proactively protect his or her assets and investments with the help of trained professionals. Asset management companies offer teams of trained personnel ready to minimise your exposure and optimise your opportunity. Below are just a few areas where expert assistance is highly recommended to ensure that your fortune and assets remain yours for years to come.
Trusts and Estate Planning
Trusts are a proven and reliable way to structure estate and succession plans. A qualified wealth management group will be able to handle all aspects of these plans, including tax mitigation, asset protection, and easy asset transfer.
Knowledge of local law regarding trusts is equally important. A fiduciary in Gibraltar, for example, would know the ins and outs of the process in that territory. Trusts aren’t solely for money, as almost any property can be put in trust—land, shares, and personal assets can be added as well.
If a financial institution is a member of an EU nation (such as the UK), they will be able to apply passporting to their products easily without additional licensing.
Another valuable service an asset management company would likely offer is asset holding. Owning a property via a local company can protect your home from capital gains and inheritance taxes, not to mention third party claims.
Other asset holding structures involve a trust owning multiple companies, each of which manages a single asset, such as a yacht, shares, or an apartment or property.
Wealth and asset management companies do more than just protect your investments and legacy; many offer vehicles in which to increase your wealth and make money. Many will also offer start-up managers to assist in building funding structures. A wealth manager will know how to set up investor funds in a jurisdiction that offers flexibility, optimising them for a diverse range of strategies.
It’s no secret that individuals with substantial wealth often own yachts. Yachts are great for relaxing and traveling the world, but with their lofty prices and complex financing, managing yacht registration and international documentation is a tedious and time-consuming exercise. Many modern asset management companies offer fully dedicated yacht registration and management. Some of the services offered include yacht registration, tonnage surveys, application for international code letters, financing and leasing, berthing, admiralty, and crew matters.
Each of these alone requires a team of people working full-time. A well-managed comprehensive asset management group will know exactly how to manage yachts and vessels of all sizes.
It Takes Money to Keep Money
Most have heard the saying “it takes money to make money”. While that holds some truth, it also takes money to keep what’s been earned. Investing in a proven wealth asset management company will literally pay dividends and provide peace of mind and protection to what you value.