The family financial adviser

Our passion is to help our clients grow, protect and pass on their wealth. Our aim is to give you peace of mind to enjoy your wealth.
Every client has different goals for themselves and their families.  When to retire.  How much is enough.
How and whether you support the next generation or the wider community.  What risk to take.
Understanding your needs is the cornerstone of our relationship with you.  It ensures we offer the best possible advice, enabling you to make the best possible decisions.


our approach

preserving and growing your wealth

understanding your goals

Our starting point is understanding what you are trying to achieve.
Everyone has different needs, values and desires. What one person sees as a luxury, someone else may see as an absolute necessity. One person may be prepared to take risks that another would not contemplate.

developing the strategy

The strategy is agreed through an interactive process.

We will call on all our in-house expertise, including our colleagues in the wider Stonehage Fleming Group and external advisers where necessary. We will test the proposed strategy to see the impact of changes in market conditions or your personal circumstances. We check back with you to ensure you understand any associated risks and discuss how they could be mitigated.

 

recommending solutions

We are independent and consider the available solutions from the whole of the market.  We are agnostic as to which solution we recommend, ensuring that the advice is in your best interests.

Our in-house due diligence carefully researches the solutions we propose. We work with your own or our preferred legal and tax advisers as appropriate.

monitoring and review

No plan is carved in stone. It must remain fluid to cope with changes in circumstances such as births, deaths and marriages as well as legislation and market developments.

Your dedicated client team will ensure you are kept up to date in a way and at a frequency that suits you. We request that at least annually we have a more formal review meeting.


our services

experience that revolves around you

The financial health check is the foundation of our relationship with you.  Helpful at the beginning of our relationship or when you have had a significant change in circumstances, it checks that your finances are on track to support your goals.

We will draw up a statement of your wealth and long term cash flow, consider how tax efficiently you are holding your wealth and assess the impact of unexpected events. We review the appropriateness of your current investments.

Whether it leads to action or not, it gives peace of mind that everything is in hand.

 

Our Wealth Planning Service combines all our areas of expertise to deliver an integrated service to meet your evolving needs over time.

Our breadth of service offer, in-house expertise and external network of professional advisers ensure we can be a single point of contact to develop and implement a financial plan which truly considers your objectives and preferences.

The level of interaction will depend on your needs and the complexity of your affairs. We are not afraid to challenge. We will be proactive in supporting you and your family in the key moments.

We offer an advisory investment service. Our starting point is a detailed understanding of how much risk you need to take to protect your wealth and how much you can afford to take to target your wider goals.

Based on this detailed understanding of what the money is for, we will recommend an investment allocation matching your goals with our in-house views on the economic outlook, the markets and fund managers.

 

Pension legislation is complex and likely to remain so as the government balance their desire to encourage people to save for retirement and the need to minimise tax breaks.

Planning your contributions effectively can reduce your effective tax rate and maximise the size and flexibility of your retirement income. Equally important is how and when you start to draw down from your pension.

We are able to advise across all pensions structures including consolidation of money purchase schemes, pension transfers and final salary schemes as well as offshore structures.

Protecting yourself from unexpected events is critical to both your peace of mind and to your family’s long term wealth.

We are able to facilitate large case life cover for family protection and IHT planning.

We work with you, not just as an individual but on an inclusive basis with your partner and wider family to understand the risks, model the financial impact of death or illness and recommend appropriate strategies.

You will have concerns and views on what should happen after you’ve gone. Effective planning can ensure your wishes are followed and that family and beneficiaries are supported.

Generational planning is about understanding your wishes for future generations and mitigating concerns around access and control.  We strive to build relationships across the generations, to educate and to facilitate.

Where appropriate, we work with our colleagues in Stonehage Fleming Family Office, leveraging their extensive experience of managing family wealth across multiple generations.


our investment philosophy

designed to meet your family's aspirations

our 4 investment principles

The chart shows how costly it can be to pick the wrong time to switch in and out of the market. By remaining fully invested from 1986 to 2016 your investment would have grown by 7.6% but by missing just the best 10 individual trading days your gain would have reduced to only 5.0% – and if you missed the best 90 individual trading days you would have lost 4.8%. This past performance is not an indication of future returns.

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Source:
Stonehage Fleming Investment Management. The market is represented by the S&P 500 Index.  Data is 04/04/1986 – 04/04/2016

This chart shows how the performance of various asset classes has changed in recent years using a representative index for each asset class. Past performance of an asset class is no guide to future performance and the performance of different asset classes will vary substantially over time.

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Source: Bloomberg
Data: Equity – MSCI World; Bond – Barclays Capital US Aggregate Bond Index; Real Estate – EPRA/NAREIT Global; Commodity – DJ-UBS F3 All Commodities; Cash – US T-Bill 3 Mth

In the example shown, £1million invested at 6.5% over 20 years would grow to £3.5million. Fees of 1% would reduce that by £640,000 and fees of 3% would cost you over £1.5million.

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Source:
Stonehage Fleming Wealth Planning

Our Core portfolios aim to deliver market-based returns across the agreed asset classes with a degree of certainty, maximising the use of low-cost funds and minimising the risk of under performance.  We favour passive funds to achieve this objective.

For certain asset classes however, we recognise that active management can add value and we carefully combine these strategies as required.

To provide an opportunity for out performance – and for those clients with the right risk profile – a proportion of the overall portfolio could adopt a more active strategy, searching out the select group of managers who excel.

 


our people

taking care of your wealth - personally

richard bertin

Partner

susie hillier

Partner

william tudhope

Partner

alison malton

chief operating officer

hattie graham

senior financial planner

Sam Baber-Scovell

Senior Financial Planner

rachelle lewis

senior financial planner

Ketan Patel

Financial Planner – Wealth Planning

  • richard bertin
  • susie hillier
  • william tudhope
  • alison malton
  • hattie graham
  • Sam Baber-Scovell
  • rachelle lewis
  • Ketan Patel

richard bertin

Partner

Richard brings over 20 years’ experience in financial services and acts as a key adviser to a number of private individuals with a particular focus on family businesses and the challenges they face.

Qualifying as a Chartered Accountant in 1989, Richard is also a Certified Financial Planner. He is a Board Member of the Financial Services Facility at the Institute of Chartered Accountants of England and Wales (ICAEW). He founded Asquith & Partners in 2004 as an early adopter of fee based independent financial planning advice. Richard led the integration of Asquith & Partners with Fleming Family & Partners in 2011.

 

 Back to the team

susie hillier

Partner

Susie brings over 20 years’ experience as a trusted adviser to a wide client base of professionals, entrepreneurs and Board Directors and continues to work with many families that she has advised for over a decade.  Susie leads our technical delivery and is widely recognised in the market particularly in the complex area of UK pension provision.

Susie joined the Wealth Planning team in 2012 having spent the majority of her career advising private clients from within the professional consultancy environment at City Chartered Accountants Deloitte, Andersen and RSM Robson Rhodes.

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william tudhope

Partner

Will brings over 30 years’ experience in investment and wealth management to this role.  He advises a portfolio of clients predominantly from a legal or financial background across their financial affairs.

Prior to joining Fleming Family & Partners Wealth Planning in 2012 Will spent 17 years at Goldman Sachs where he founded and ran the Small & Medium capitalised companies business unit within the equities division. Will was also responsible for major institutional relationships within the equities division. Before Goldman Sachs, Will was a convertible bond trader at Morgan Stanley. Will holds an MA in Law from Queens’ College, Cambridge.

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alison malton

chief operating officer

Alison brings over 20 years’ experience in developing and delivering high quality propositions for wealthy clients.  As well as supporting consultancy work for some of our more complex clients, Alison focuses on ensuring our delivery lives up to our promise.

Alison joined the team in 2011 having gained her experience in a variety of senior management and consultancy roles including as COO of Barclays Private Bank and Schroders Private Bank.  As an independent consultant she has worked for a range of clients from large private banks to boutique asset managers and IFAs.

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hattie graham

senior financial planner

Hattie is a Chartered Wealth Manager and Certified Financial Planner with over 12 years’ experience helping individuals and their families to structure all aspects of their finances.  She brings her strong technical expertise to bear across our client relationships with a particular focus on pension, protection and generational planning.

After graduating from Birmingham University, she spent several years working in financial journalism before joining international accountancy firm Mazars to complete her training.  Hattie joined Wealth Planning in 2015.

 

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Sam Baber-Scovell

Senior Financial Planner

Sam is a Chartered Financial Planner with 15 years’ experience in the industry.  She advises a portfolio of clients with a particular focus on getting the long term strategy right and working with clients across generations.

Sam joined Wealth Planning in 2016 having worked at a number of smaller independent financial advisers in central London.  With a degree in history and an MA in Victorian Art and History, she started her career in the art sector before moving into financial services.

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rachelle lewis

senior financial planner

Rachelle is a Chartered Financial Planner and Fellow of the Personal Finance Society.  She has been working in the financial services sector for over 7 years and advises across a broad range of areas with a particular interest in pensions.

Prior to joining the Wealth Planning team in 2015, Rachelle spent her early career working within the Financial Planning departments at Rathbone Investment Management and Charles Stanley. Rachelle graduated in 2007 from the Nottingham Business School with a degree in Business Studies.

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Ketan Patel

Financial Planner – Wealth Planning

Ketan is a Chartered Financial Planner, who advises private clients in holistic financial planning, covering all the key areas including investment advice, protection, retirement planning and intergenerational planning.

Ketan graduated from University College London in 2010 with a degree in Economics. He also completed a Masters in Finance and Financial Law in 2011 at the School of Oriental and African Studies, University of London. Prior to joining Stonehage Fleming Wealth Planning, Ketan spent over 5 years building his experience in financial services and financial planning at Lloyds Bank across their Private Clients and Private Banking wealth management divisions.

 Back to the team

our insights

knowledge is best when shared


our clients

discover the value of wealth planning

In her late thirties, our client is now starting to earn well, feeling settled in her career and seeing a period of the next 10-15 years when she can put money away for her family’s future. With a large mortgage and young family however, the pressure is certainly not off.

We initially completed a financial review including a full ‘health check’ and cash flow modelling. We put in place some additional protection and have an agreed strategy for paying down debt and longer term investment into pensions and ISAs, utilising tax allowances for the whole family. With a demanding job, time is precious and we now provide a relatively low-touch service, advising on investments for growth and checking in annually to ensure everything remains on track.

Our client’s main focus in recent years has been the investment of excess income. We have worked with the client to maximum fund pension pots and have also recommended EIS and VCT investments and recently helped arrange a charitable trust account.

Now approaching his late fifties and planning to retire within the next 12 months, we have re-worked the long term cash flow to develop the strategy for how he and his partner’s lifestyle will be supported post retirement and to fully understand the extent that they can help their children and wider family. The client is fortunate to benefit from multiple sources of income and the plan considers both tax efficient income in retirement as well as beginning to look at inter-generational planning.

Our client was facing the uncertainty which inevitably arises following the upheaval that divorce can bring. Her ex-husband had been the primary earner and had dealt with the majority of financial matters. She has been offered a lump sum settlement and maintenance for the children but is now a bit unsure of where to turn and after a number of meetings with investment managers felt more confused.

Our starting point was to present a simple cash flow model which showed her projected expenditure and looked forward considering inflation and different scenarios for investment growth. It helped the client understand that she could afford her desired lifestyle but needed to take some risk to protect herself against inflation. Furthermore it helped understand how much she could look to spend on a property. The strategy was then implemented and regularly reviewed to give the client the peace of mind and support through this difficult time.

Our client realised £4m from the sale of his business – quite a change after earning very little as the business was built. In his early forties and with a young family, we were able to work with husband and wife to build an understanding of what that money could – and could not – achieve and what the next stage of their life might look like.

We arrived at a relatively cautious strategy to protect the family wealth while he considers longer term business plans. Effective long term planning was put in place with pensions and ISAs for all family members. Some monies were retained for future house purchase and a portion invested for long term growth. After a couple of years, the client is now embarking on a new venture and has realised part of the portfolio to seed that business.

Typical of many family run businesses, our client had little intention of retiring but was starting to think about what would happen when he was no longer up to the role of running the family business and by extension the family wealth. Across business, property and investment assets, the family wealth totalled around £20million but much of it held in illiquid assets and inextricably tied up with the business.

We were asked to consider a strategy for inter-generational transfer. Our first point was to understand the wishes and needs of different generations within the family and to work to a shared understanding of the longer term goals. Secondly, we looked at the cash flow under different scenarios to understand how best to meet future income requirements and potential liquidity needs. And finally, we were able to develop a strategy incorporating effective tax planning and crucially support for the next generation.

Our client unfortunately died after a period of ill health. Through his relationship with us that spanned over 10 years, he had made the commitment to ensure that there was someone else – Wealth Planning – that understood the family finances, that knew his wishes and most importantly that his wife and grown up children knew and trusted.

Prior to his death, we were able to put in place effective planning working with his lawyers to ensure that the wills reflected his wishes and that assets were held as tax effectively as possible. At death, we were there to ease the inevitable flow of paperwork. The death coincided with the new pensions freedoms and we were able to work with the pension trustees and lawyers to ensure a more effective transfer of pension assets to the next generation.


contact us

a personal introduction


visit

Stonehage Fleming Wealth Planning
15 Suffolk Street
London
SW1Y 4HG


call

RICHARD BERTIN
Partner

SUSIE HILLIER

Partner

+44 20 7036 5000