Could it be time to change your wealth manager?

Are you sure you’re getting all you should from your current wealth manager? If you no longer have a good relationship your investment manager, or aren’t convinced your money’s working as hard as you’d like, or you’re not getting value for money, it could be time for a change.

Whatever your doubts, it’s better to act on your concerns than sit on them. And while we may be quietly confident that we can-do better for you, we’d like the opportunity to prove ourselves.

Do any of these remind you of your current wealth manager?

1. The relationship doesn’t feel at all personal

Are you thinking… ‘I’m not sure my wealth manager even knows who I am’…?

When it comes to wealth management, your needs and financial objectives must be central. Everything revolves around this – or at least it should. Good communication is vital, both in terms of regular contact and the trust you build with your wealth manager over time. Most importantly, all this should be on your chosen terms.

How we can-do better

Everything we do for you will revolve around your needs, aspirations and financial objectives. We’ll make it our priority to understand your plans, along with your personal and family situation and your attitude to risk. Because only then can we deliver a solution that will help you grow, secure, or share your wealth in the best way possible.

You can specify when and how you’d like to hear from us and trust us to be proactive when we need to be. And all this will be rooted in openness and honesty, vital to enduring relationships that grow in value over time.

Find out how our service can-do better for you.

2. Your circumstances have changed but the advice hasn't

Are you thinking… ‘I never hear anything new or different…’ or ‘My questions are going unanswered…’

Some big changes – like funding your child’s education or helping them onto the property ladder – you can plan for. But many may be unforeseen, such as divorce, selling your business, or needing to pay for medical care. In situations like this, you need your wealth manager to be responsive and flexible.

How we can-do better

We understand your circumstances will change, so too will your priorities. With our wealth management service, your Wealth Planner will give you fully independent advice, grounded in your needs – and your needs alone.

Rest assured we understand the ‘wealth cycle’ but our thinking isn’t stuck in this predictable loop. Your Wealth Planner and your Investment Manager will work hand-in-hand, so they can adapt quickly should the unexpected happen to you and give you the right support at all times.

Find out how our financial advice can-do better for you.

3. Your investments aren’t performing too well

Are you thinking… ‘I’m not convinced my money’s working hard enough’ or ‘I suspect there might be better opportunities out there’…?

Having full confidence in your wealth manager is essential, especially in uncertain times. However, not all wealth managers are created equal.

If you’re to successfully ride out the ups and downs of a turbulent market, and make the most of your money, your wealth manager will need a forward-thinking mindset, access to up-to-the-minute market intelligence, and a breadth of investment opportunities and expertise to draw from.

How we can-do better

Our approach to managing investment performance is objective, pragmatic and underpinned by:

• A rigorous and robust investment process
• Powerful market insight, generated by over 70 in-house researchers and analysts
• Access to a wide range of investments, including specialist areas like global equities, fixed interest portfolios and UK small-caps, often ignored by less experienced providers.
• State-of-the-art systems and tools enabling us to react quickly and efficiently to market movements.

If you think your investments could be performing better - or be better aligned with your ‘big picture’ plans…

Find out how our Investment Managers can-do better for you.

4. You get little more than an annual review

Are you thinking… ‘I hardly ever hear from my wealth manager’…?

With the pace that market fluctuations and financial legislation can change, an annual review is rarely enough for wealth management to be effective. You shouldn’t feel like you’re the one who is always having to take the initiative, especially in these volatile times.

How we can-do better

We understand the value of clear, relevant and timely communication. Not only can it allay any worries you have, it can also ensure that the right decisions are made at the right time so your wealth is protected.

When it comes to investment performance, we’ll always be honest with you about the good and the bad, and the action we can take to ensure your portfolio’s working hard for you.

You’ll receive quarterly valuation reports, regular market updates from our Chief Investment Office and webinars to keep you abreast of events that might affect your wealth.

Find out how we can-do better for you.

5. The service you receive is outdated and inflexible

Are you thinking… ‘I can’t get the information I need, when I need it’…?

We live in a digital world, so being able to see what’s going on with your investments from anywhere, at any time is not only invaluable, it’s expected. You want a wealth manager who uses the latest technology appropriately, to make managing your wealth as seamless as possible.

While it’s no substitute for human connection, online access to your investments should be a given, not a bonus.

How we can-do better

You will have 24/7 online access to your account and clear information about your holdings, performance, transactions, balances and much more.

Our portal is simple to use and highly intuitive, even if you’re not a digital native. And it’s designed to complement – not replace – the personal relationship you’ll have with us.

Find out how we can-do better for you.

6. You’re not sure you’re getting value for money

Are you thinking… ‘I don’t really know what I’m paying for’…?

The wealth management world is notoriously opaque when it comes to cost, making it almost impossible to compare one wealth manager’s charges against those of another. Your wealth manager should always be both willing and able to explain their fees to you so you can see the value in what you’re paying for.

How we can-do better

Our charges are transparent and agreed with you in advance. You’ll also get a full breakdown of what you’re paying in your quarterly performance report.

Ours is a highly tailored approach, so what you pay will reflect your individual situation, including factors such as your tax liabilities, whether stamp duties are applicable and where your money is invested.

Whatever your circumstances, we will never settle for poor performance simply to drive down fees and we’ll always bring calmness and clarity to the table.

Find out how we can-do better for you on value.

Don’t settle for less. Choose the independent wealth manager with can-do.

Canaccord Genuity Wealth Management is a leading independent wealth manager – one of the UK’s top 10 - with over £32.5bn of assets under management and administration (as of 30 June 2023). Yet we’re firmly in the ‘quietly confident’ camp, so there’s a chance you’ve still not heard of us.

Thanks to the expertise of our highly experienced wealth planners and investment managers, who together make up our wealth management service, our success and reputation have grown year-on-year. In particular, we’re known for our relationship-building, our ‘big picture’ thinking and our ability to help our clients build their wealth with confidence.

  

  

Changing wealth manager - your questions answered

How easy is it to change my wealth manager?

Changing your wealth manager can be straightforward, especially if you have the support of your new wealth manager throughout the transfer process. You may have concerns around cost, time and paperwork that leave you thinking you’re better off staying put, but changing your wealth manager could be far easier than you think.

When you move your investments to us, we’ll take care of as much as we can for you, including evaluating the potential costs and tax implications.

When should I change my wealth manager?

You should consider changing your wealth manager, if you’re not convinced you’re getting real value from your current relationship. Staying with a wealth manager who doesn’t give you the advice and expertise you need may jeopardise your financial future. 

Reasons why it might be time for a change include poor investment performance, inadequate or inappropriate financial advice and lacklustre service.

Is it expensive to change my wealth manager?

Changing your wealth manager doesn’t have to be expensive. In the long run, it may turn out to have been more expensive to stay as you are, so don’t let cost alone prevent you moving on. Weigh it up against the potential value you could gain from a new wealth manager who delivers better investment performance and financial advice.

The cost of changing wealth manager will depend on the administration involved in transferring your investments to your new provider. The more complex your investment portfolio, the more will need to be done. Although, the good news is the days of punishing exit fees are largely behind us.

Choose us to be your new wealth manager and we’ll do the hard work for you, including working out how to move your investments to us in the most cost and tax-efficient way possible and managing much of the process for you.

 

What questions should I ask a new wealth manager?

Here are 10 questions you could ask a potential new wealth manager to see if they have the expertise and capabilities you need:

1. What services can you offer me?
2. How much do you charge for these services?
3. Are there any other costs I need to be aware of?
4. Who will be managing my investments on a day-to-day basis?
5. How do you stay on top of market volatility and new investment opportunities?
6. What process do you follow when making investment decisions?
7. Are your financial advisers fully independent?
8. How will my investment manager and financial adviser work together?
9. How and when will I be updated on the performance of my investments?
10. Can I access my account whenever I like?

It’s also worthwhile checking:

• How long the firm has been around
• Who the firm is owned by
• The firm is registered with the Financial Conduct Authority
• The value of the assets held under management and administration
• Awards and accolades for investment performance or client service
• Reviews and client testimonials
• How they protects their clients’ assets
• The calibre of the team.

Request a free service consultation to tell us what you want from your wealth manager so we can show you how we can-do better for you.

Can I have more than one wealth manager?

Yes, you can have more than one wealth manager as long as you don’t mind paying fees to each and managing more than one relationship at the same time.

Some people choose to have more than one wealth manager simply to keep them on their toes, or to trial different firms before choosing which to go with long term. Some may see it as a way of diversifying your investments or accessing specialist investment expertise.

However, a good wealth manager should be able to offer you all this under one roof, saving you time and money.