Insights
By: Susie Hillier
Wealth Planning UK - Divorce: one year on
In the third and final piece in their series about divorce, our Wealth Planning colleagues spoke to a number of clients one year on from separation, asking them what they found most valuable about working with Stonehage Fleming. Here’s what they found out:
Having someone on your side – James Hoare, Wealth Planning Adviser
This comes up a lot. Our clients tell us it is invaluable having someone on their side to help them navigate this new period of their lives. The immediate post-separation period is often a time for reflection. The experience we have of dealing with people in similar situations allows us to understand how best to look after our clients at this time, giving them space to recalibrate but move forward with the essential steps for putting a financial plan in place.
Building confidence – Nicholas Toubkin, Director – Wealth Planning
Our clients say that having a financial plan in place was an essential part of allowing them to move forward with confidence. Cash flow modelling tools are a key component of this, providing a clear picture of how to achieve your financial objectives, including helping to create a budget to reflect new circumstances and spending habits. Our experience tells us that this visualisation of the future is a key part of building confidence for our clients whose lives have been affected by divorce.
Sticking around for the long term – Susie Hillier, Partner - Head of Wealth Planning
Fundamental to any good plan is continuous review - wealth planning after a divorce is no exception. The ongoing monitoring of a person’s situation allows us to adjust the overall plan according to changes in their circumstances, amendments to legislation and market developments. As wealth planners, part of our role is to continually adjust a client’s financial plan, to ensure that they remain on track to meet their objectives. Our breadth of expertise allows us to manage, influence, and co-ordinate the delivery of tax planning, legal, wealth structuring, and asset management advice from a client’s team of professional advisers.
The Stonehage Fleming Wealth Planning team are here to support clients, and their advisers, helping them to navigate their changed financial landscape in anticipation of, and as a result of, divorce.
If you would like to discuss any of the topics mentioned in this article, please do get in touch by emailing enquiries@stonehagefleming.com
Read more in this series:
Taking the ‘awkward’ out of pre-nuptial conversations
Wealth Planning UK – seeing you through the uncertainty of divorce.