If you are a business owner, entrepreneur or are self-employed, you may well have complex finances. With such a focus on building and running a successful business, you may struggle to give your finances – particularly your personal finances – the attention they need.
The business owners we work with are usually setting up a business, still running and building their business, or thinking about selling up and retiring. Each group have differing priorities and challenges which we are adept at solving, thanks to our knowledge and experience.
Firstly, we need to ensure that your corporate and financial planning work hand in hand- achieving your personal financial goals are generally dependent upon the success of your business. Next, it’s about meeting your financial problems and challenges head on while ensuring a plan is put in place to achieve your goals.
This may include:
Our experts can help you make the most of your money. We can work with you and any other business advisers you have to plan and structure your finances in the most tax-efficient way- we can ensure your money is working hard for you.
“A journey of a thousand miles must begin with a single step.”
At Servo Private Wealth, we work with wealthy families, high net worth individuals and entrepreneurs as well as companies and charities to grow and protect the value of their, and their client’s wealth, over the long term.
It is easier to plan for the future if you know what your finances will look like. With the help of specialist software, our team can analyse your personal and business wealth together with assets and expenditure to create a projection of your finances. They can also run through different scenarios to understand the impact on your finances. Through financial forecasting we can establish if you are on track to achieve the future you want and, if you’re not, we can create a plan to help you get there.
Whether you are making corporate or personal investments and would like to have your cash and investments managed, or be advised on them, we can help. This could be to diversify risk by investing in areas away from your business, or to generate a regular income from the lump sum you receive when you sell your business. We can also ensure that you are investing in the most tax-efficient way.
Many people don’t have adequate cover in place for the many business risks that exist. Protecting against these can ensure the successful running of your company without any unnecessary risk to your business, personal or family wealth.
We can help you with:
You may be relying on the sale of your business to fund your retirement, but it pays to make the most of the Government’s allowances and tax relief for pension contributions. We can:
You may not be planning to exit your business for many years to come. Selling a business is a life changing decision and one where good advice is invaluable. But whether you want to sell your business or transfer ownership to other family members – or you are unsure which option would be best – the earlier you start planning, the more success you will have when transferring your business wealth into personal wealth.
There are thousands of questions, problems and challenges which will need addressing before the business is sold, and you can sit back and relax. But, most of our clients who sell their business want two fundamental questions answering:
Our knowledge and experience means we can answer these, while working with your other professional advisers, to ensure every small detail is taken care of, and nothing throws the sale off track.
If you are planning to sell your business, we can show you how much you may need to sell it for to achieve your personal financial goals, and when you may be able to sell. If you are passing on your business, we can help with your transition and consider your wider estate planning, while working with other family members to provide ongoing advice if necessary.
Whichever option you take, we can make sure you are using all of your tax allowances and reliefs before, during and after you leave the business.
Business assets do not form part of an estate for Inheritance tax purposes but if you sell your business and these assets become cash, they are subject to Inheritance Tax. We can help you put in place a plan to pass on your wealth in the most tax-efficient way.
We just wanted to take a moment to update you, in light of the recent lockdown announcement from the PM.
We’d like to let all of our current and future clients know that we are proceeding with business as usual for the foreseeable and our team are all safely working from home. All meetings and appointments will still be taking place virtually, either via zoom, skype, facetime, or telephone.
We were here before in 2020, and actually took on several new clients, entirely remotely! (In some cases we’re still yet to meet them in the flesh!) So, as nice as a face-to-face meeting is, it certainly isn’t a blocker for us and how we can help you.
So if you are looking for independent financial advice or support, please do get in touch to see the range of services we offer to help you grow and preserve your wealth.
Many thanks, and stay positive.
The Servo Private Wealth Team