In recent years, more and more investors have begun to prioritize environmental, social, and governance (ESG) factors alongside financial returns, leading to a surge in sustainable investing. This approach represents a significant shift in the investment landscape, where profitability is no longer the sole consideration. So, what exactly is sustainable investing, and how can investors align their portfolios with sustainability goals?

Sustainable investing, also known as socially responsible investing (SRI) or ethical investing, involves considering ESG factors alongside financial returns when making investment decisions. ESG factors encompass various criteria, including environmental impact, social responsibility, and corporate governance practices.

Investors embracing sustainable investing seek to support companies that demonstrate a commitment to responsible business practices and contribute positively to society and the environment. This strategy goes beyond avoiding controversial industries such as tobacco or weapons manufacturing. Instead, it actively seeks out companies that promote sustainability, innovation, and social progress. James Hambro and Partners, for instance, pursue sustainable investing by listening to the client’s specific requirements and “applying an “ethical overlay” to your portfolio to ensure the companies we invest in are also aligned to your goals”.

Creating a sustainable portfolio involves several key steps:

Start by identifying ESG factors that align with your values and objectives, such as environmental conservation, social justice, workplace diversity, or ethical governance.

When researching investments, prioritize companies and funds that demonstrate a commitment to sustainability through strong ESG performance metrics and transparent reporting practices.

It is essential to diversify your investment across various asset classes, sectors, and geographic regions to mitigate risk and maximize returns.

Companies and fund managers are engaged to advocate for sustainable practices. Shareholders use proxy voting, shareholder resolutions, and direct dialogue with company leadership to influence corporate behaviour.

It's important to regularly review your investments' ESG performance and adjust your portfolio accordingly to align with your sustainability goals.

While often used interchangeably, ESG investing and sustainable investing are not synonymous. ESG investing primarily focuses on evaluating companies based on environmental, social, and governance criteria to mitigate risk and enhance long-term financial performance. It seeks to integrate these factors into traditional investment analysis to identify companies with sustainable business models and practices.

On the other hand, sustainable investing goes a step further by actively seeking out investments that promote positive social and environmental impact. It emphasizes proactive engagement with companies to drive positive change and support sustainable development goals.

Impact investing: Focusing on social impact

Wealth managers can provide impact investing, which allows eligible investors to invest in innovative and high-growth companies that offer attractive returns with their products and services. At the same time, these companies also have a measurable positive impact on society and the environment. It's important to note that impact investing differs from sustainable investing. Impact investments are typically alternative investments, such as private equity, where new capital is injected into for-profit companies. “By choosing impact investments, you invest in companies that focus on generating attractive returns with their products and services while at the same time making a positive and tangible difference for people and the environment”, adds LGT. 

Impact investing is a strategy aimed at reducing negative business effects on society and the environment. Investors consider a company's commitment to social responsibility before investing. Impact varies depending on the industry and company, such as community support or sustainable energy.

Impact investing aims to create positive social and environmental outcomes by investing, for instance, in nonprofits that benefit the community or clean-technology enterprises that benefit the environment.

Sustainable investing offers investors an opportunity to align their financial goals with their values and contribute to a more sustainable and equitable future. By considering ESG factors alongside financial metrics, investors can build portfolios that support companies committed to responsible business practices and promote positive social and environmental change. As the demand for sustainable investing continues to grow, investors have the power to drive meaningful change and shape a greener, more sustainable economy.

Sustainable Investing: Creating a Greener Portfolio for the Future

As the digital currency landscape continues to evolve, one event stands out as a significant milestone for Bitcoin investors and enthusiasts alike – the Bitcoin halving. Scheduled to occur on April 20, 2024, this event is poised to have far-reaching implications for the world's most popular cryptocurrency.

," is a pre-programmed event built into the Bitcoin protocol. It occurs approximately every four years and entails a 50% reduction in the reward that miners receive for validating transactions on the Bitcoin network. This reduction means that the rate at which new Bitcoins are created decreases, ultimately leading to a decrease in the overall supply of Bitcoin.

Many are unaware that the supply of their local currency can change drastically at the drop of a hat. As 

, following the COVID-19 pandemic, central banks bolstered their local economies worldwide by flooding the financial system with newly minted fiat currency. As an example, Forbes explains that more than one-fifth of all US Dollars in circulation were created in 2020 alone.

Even though it was a temporary solution to prevent the collapse of the world economy, the excessive "money printing" has long-term consequences. The increase in the quantity of fiat currency has led to high inflation, which has affected numerous economies worldwide and sharply increased the cost of living for people everywhere. In contrast to the printing option, the quantity of Bitcoins has always been limited: there will never be more than 21 million. As of right now, more than 19.66 million bitcoins have been mined, leaving slightly under 1.4 million to be released into circulation out of the total 21 million. The Bitcoin protocol "halve[s]" the amount of new coins that miners are awarded on a regular basis.

The upcoming halving event, set to occur on April 20th. 2024, marks the fourth such occurrence since Bitcoin's inception in 2009. Previous halvings, which took place in 2012, 2016, and 2020, have historically been associated with 

. These rallies are often driven by a combination of supply-side dynamics and increased investor interest in the digital asset.

All Bitcoin transactions are verified by a decentralised network of validators through a process known as mining. When they are the first to validate a block of transactions, they are paid 6.25 BTC as part of the Bitcoin blockchain's proof-of-work method, which involves employing difficult mathematics.

A good incentive for miners to keep adding blocks of Bitcoin transactions is 6.25 BTC, which at the current value of the cryptocurrency will be worth roughly USD 410,000 in March 2024.

Roughly every ten minutes, new blocks of transactions are added, and after every 210,000 blocks, the Bitcoin code dictates that miners' earnings are reduced in half. This occurs about every four years around times when the price of bitcoin is typically more volatile.

Why does the “Bitcoin Halving” event occur?

November 2012 saw the first bitcoin halving. The subsequent halving occurred in July 2016, while the latest one took place in May 2020. According to Forbes, when Bitcoin was first established in 2009, the mining incentive, or subsidy, was set at 50 BTC every block. For every new halving, the amount decreases by half. The reward for mining Bitcoin, for example, decreased to 25 BTC for each block following the first halving.

One of the key factors contributing to the price rally surrounding Bitcoin halving events is the concept of supply and demand. With the supply of new Bitcoins being cut in half, there is a reduction in the rate at which new coins enter circulation (everything else being constant). This reduction in supply, combined with sustained or increased demand, can create upward pressure on the price of Bitcoin.

Moreover, Bitcoin halving events often catalyze renewed media attention and investor speculation. As the date of the halving approaches, mainstream media outlets frequently cover the event, bringing Bitcoin to the forefront of public consciousness. This increased exposure can lead to a surge in investor interest and trading activity, further driving up the price of Bitcoin. David Weisberger, CEO of trading platform CoinRoutes, told Forbes that currently, Bitcoin has an inflation rate of less than 2%, which will decrease to less than 1% following the halving in April 2024.

The final halving will happen in 2140. There will be 21 million Bitcoins in use at that time, and no more will be produced. Miners will only continue to get transaction fees from users who make transactions on the blockchain after that.

Can we predict the rise and fall of the Bitcoin?

Despite the repetition and the attention this event gets, it's important to note that past performance is not indicative of future results, and Bitcoin markets are notoriously volatile. While previous halving events have been accompanied by price rallies, there is no guarantee that the same pattern will repeat itself in 2024. Investors should exercise caution and conduct thorough research before making any investment decisions.

Additionally, the long-term implications of Bitcoin halving events extend beyond short-term price fluctuations.

Bitcoin halving events underscore the decentralized and self-regulating nature of the Bitcoin network. Unlike traditional fiat currencies, which are subject to the whims of central banks and government policies, Bitcoin operates according to a predetermined set of rules encoded in its protocol. The predictability and transparency of the halving process contribute to Bitcoin's appeal to some investors as a sort of protection or barometer of times of economic uncertainty.

We asked Blu Family Office for their take on the Bitcoin halving event: “As early investors in cryptocurrencies, we have obviously experienced a lot of volatility over the years. Events, such as Bitcoin halving or the SEC approving the physical Bitcoin ETF, have certainly contributed to this volatility both in terms of investors anticipating price changes, but then also taking profits after the fact. As such, speculating on events as a means to get exposure to the asset class is quite a risky investment strategy. There are many other reasons to invest in cryptocurrencies, or not, and that is the appeal of the asset class and financial markets more generally.” 

The upcoming Bitcoin halving scheduled for May 10, 2024, represents a significant milestone for the cryptocurrency market. While past halving events have been associated with price rallies and increased investor interest, the future trajectory of Bitcoin remains uncertain. Investors should approach the halving event with caution and diligence, keeping in mind the potential risks and rewards associated with cryptocurrency investing. Seeking professional advice can be the best way to approach investments in volatile markets, to make sure your investments are less vulnerable to sudden changes in the market.

Bitcoin Halving: What Investors Need to Know

Why is it difficult for people to talk about money? What can happen if we talk about money too much? At Compare Wealth Managers, we want to make it easier for people to talk about money, learn how to manage wealth, and feel comfortable asking for financial help when they need it.

A recent researched published by Hearst UK says that 68% of their female audience aged 18-34 are comfortable talking about their mental health, while only 48% are comfortable discussing their finances.

Money is a conversational topic dogged by stigma, shame, and fear of judgement. And Hearst UK insist it’s taking a toll on our mental health: 56% manifests having suffered sleepless nights over money woes before, while 68% agreed that money had impacted their mental health.

A 2020 YouGov survey revealed that money, or the 'm' word, was considered the greatest taboo. According to the survey, 50% of respondents believed that discussing personal finances was more unthinkable than discussing sex (42%), religion (26%), or politics (14%). The survey also found that 25% of respondents had lied to their family and friends about their personal finances.

According to Forbes, traditionally, British people deemed it terribly gauche to talk about finances: “People who were wealthy didn’t need to talk about it because they knew — from how many houses you had, what cars you drove, how many servants you had, the yachts that you had, where you vacationed. They could figure out what your net worth was.” discloses Jodi R. R. Smith, of Mannersmith Etiquette Consulting. Even though Smith admits that in the US and other countries “new money” people feel more comfortable disclosing their worth, for traditional wealthy families, or “old money”, it is still taboo.

And that’s probably where the problem lays: traditions are very rarely questioned, and many people don’t feel comfortable even telling their closest friends and family sometimes how much money they made, or even if they’re struggling. But why do we still find it so difficult that we cannot even ask for help?

It is not only those who struggle with their finances that avoid discussing money. Many people find the topic confusing and feel they lack sufficient knowledge to engage in such conversations. "In the UK, people tend to be quite reserved when it comes to their finances. When people come into money, they can often struggle due to a lack of financial education" explains Rob Burgeman, Investment Manager at RBC Brewin Dolphin. "Many are unfamiliar with the concepts and language around insurance, loans, pensions, and savings." 

So why is money such an uncomfortable and unmentionable subject? From an early age we learn to avoid talking about money. In school, we are taught that 'money is the root of all evil' and that discussing it is somehow rude, tasteless or crass. As we grow older, our relationship with money becomes more complex. 

We may become preoccupied with not having enough of it or feel ignorant about how the world of money operates. Financial services companies often use confusing jargon and small print, which can make investing seem too complicated.

People may feel ashamed to talk about their mistakes with money, which can prevent them from learning and discussing financial topics. 

Why do we need to avoid talking about money?

Economists and investors often refer to 'opportunity cost', which in simple terms means the hidden price you pay for not taking action. Choosing to bury your head in the sand and not talk about money can prove to be very costly in the long run. It means you're missing out on the opportunities that come with being in control of your finances.

Avoiding discussions about money can have severe consequences for individuals and those around them. Money is the primary cause of arguments between married couples and the second most common reason for divorce, after infidelity. According to research conducted by The Money and Pensions Service, 63% of people reported that financial concerns were negatively impacting the mental health of someone close to them.

Also amongst married couples, many women are left out of the conversation when it comes to long-term financial planning, allowing them in some cases to only handle the house budget. Poppy Fox, Investment Director at Quilter Cheviot, insists in bringing women into the conversation not only to break the taboo, but to find joy and success in the family financial journey: «To achieve financial success as a couple, it's crucial to involve both partners in financial decisions. Traditionally, only one spouse may attend meetings, but we believe in valuing the contributions of both individuals equally. Even if one person doesn't contribute financially, their role is still valuable. Each partner brings unique assets, and together, they can achieve great things.”



If there was ever a time to feel comfortable opening up about your insecurities, fears, or past mistakes, it is now. Some other "former" taboo subjects such as mental health have become more accepted since the pandemic, so why not start discussing your experiences with money with your close family and friends? Sharing your concerns, discussing future plans, or asking questions can encourage others to open up and share their own. If you have a difficult relationship with money, it's likely that those around you do too. It's important to keep conversations non-judgmental and remember that money is an emotional subject, and everyone's life experiences are different. Money conversations should be a safe space where people don't judge or have a lack of empathy. 

To change your relationship with money and overcome the money taboo, consider examining your personal connection with money. Begin by asking yourself what money means to you.

Dr. Alex Melkumian, founder of the Financial Psychology Center in Los Angeles, CA, told 

t how everyone’s “money story” starts at childhood. “The foundation of anyone’s understanding and relationship with money is based with their family of origin coupled with any financial literacy education they receive throughout their life”.  While many believe that money means 'financial security', it can also mean something different to you depending on your life story. Exploring the true meaning and significance of financial security can assist in identifying underlying concerns, prioritising goals, and devising a plan to address them, ultimately boosting confidence.

With this understanding, you can develop strategies to achieve both short-term and long-term financial objectives without apprehension or uncertainty.

Seeking professional advice can be intimidating for some people, fearing that their lack of knowledge on the subject might be seen as a weakness. However, having a professional financial adviser to listen to your financial needs, hopes, and fears is crucial for improving your relationship with money.

Investment advice is only one aspect of the services provided by financial advisers and wealth managers. During the fact-finding stage, they ask questions that go beyond the amount and duration of your investment. They are interested in your life goals, business plans, retirement plans, and the wealth you want to pass on to future generations.

Financial advisers aim to assist you in planning your financial journey through life and prepare you for unexpected events.

When consulting with a financial adviser or wealth manager, they will ensure that you feel comfortable asking any questions and provide you with all the necessary information to make informed financial decisions. 


Money doesn't necessarily make us happier, but worrying about it can make us miserable. Breaking the taboo is the first step towards feeling more confident about money, making positive decisions to improve our finances, and taking control of our future.

Compare Wealth Managers offers a free service to help you find the right partner to help you in your financial journey. Simply click the orange "start comparing" button to get started.

Breaking the money taboo

Wealth management firms are key players in the financial world, providing a selection of services tailored to private clients and families. These firms offer comprehensive financial solutions aimed at growing, preserving, and transferring wealth across generations. From investment management to estate planning, wealth management firms cater to a diverse set of needs and objectives. Let's look into the various types of financial services they offer and how they contribute to the overall financial well-being of their clients.

At the core of wealth management services lies investment management. According to Rob Burgeman, investment manager at RBC Brewing Dolphin, wealth manager takes a comprehensive approach that considers a client’s complete financial picture including pensions, inheritance planning, long-term savings, personal goals and of course investment planning.

With these goals in mind, wealth management firms analyse clients' financial goals, risk tolerance, and time horizon to develop personalized investment strategies. These strategies involve asset allocation (where exactly your money will be invested), portfolio diversification (different types of investments, so as not to put all of your eggs in one basket), and selection of investment vehicles such as stocks, bonds, mutual funds, and alternative investments. Continuous monitoring and periodic rebalancing are crucial to ensure the alignment with clients' evolving financial objectives and market conditions.

«It’s important that people understand that when looking at financial planning, there is no one-size-fits-all solution. You have no certainty about how people's plans are going to evolve or what the tax situation will be in the years to come» explains Rob Burgeman.

Comprehensive financial planning is another cornerstone of wealth management. It involves a holistic assessment of clients' financial situation, encompassing budgeting, retirement planning, tax optimization, insurance coverage, and education funding. By evaluating various aspects of clients' financial lives, wealth managers devise strategies to optimize wealth accumulation and mitigate risks, thereby fostering long-term financial security.

«Financial planning is like building a portfolio; you need a mix of assets for different needs. You need to consider cash savings and pensions, but you also need rainy-day money. Regular reviews are essential as life changes, ensuring your financial plan stays relevant. It's a journey with twists and turns, so planning should be an ongoing, iterative process.» adds Burgeman.

Wealthy individuals often seek assistance in structuring their estates to facilitate smooth wealth transfer and minimize estate taxes. Wealth management firms collaborate with legal experts to craft estate plans that align with clients' wishes while adhering to applicable laws and regulations. Strategies may include the establishment of trusts, wills, charitable giving vehicles, and succession planning for family-owned businesses.

Tax efficiency is paramount in wealth management. Firms employ tax professionals to identify opportunities for reducing clients' tax liabilities through strategic planning. This includes optimizing investment portfolios for tax efficiency, utilizing tax-deferred accounts, implementing charitable giving strategies, and staying abreast of changing tax laws to proactively adjust clients' financial plans. In many cases, pension contributions can help reduce tax payments while growing that retirement pot.

Preserving wealth involves mitigating various risks, including market volatility, longevity, disability, and liability. Some wealth management firms also evaluate clients' insurance needs across life, health, property, and liability insurance. They recommend different coverage levels and types of insurance policies to protect against unforeseen events and ensure the continuity of financial plans.

Many wealthy individuals aspire to make a positive impact through charitable giving. Wealth management firms facilitate philanthropic ventures by advising on effective charitable giving strategies, establishing donor-advised funds, and maximizing tax benefits associated with charitable contributions. 

Ann-Marie Atkins, managing partner at Evelyn Partners, explains that philanthropic work is quite beneficial from a tax perspective: “You could set up your own charitable trust. This could carry additional tax benefits and you set the criteria as to how people can qualify to be able to benefit. Cash flow modelling can be used to determine how much you can give away and still benefit from tax reliefs. "

By integrating philanthropy into clients' wealth management plans, firms help align financial goals with personal values.

For ultra-high-net-worth individuals and families with complex financial affairs, wealth management firms may offer family office services. These custom-made solutions encompass a wide range of services tailored to the unique needs of wealthy families, including wealth consolidation, multi-generational wealth transfer, family governance, concierge services, and lifestyle management.

Wealth management firms play a crucial role in catering to the intricate financial needs of individuals and families with different goals and needs. By offering a comprehensive suite of services, these firms strive to optimize wealth accumulation, preservation, and transfer across generations. With the best finance professionals at hand, financial and investment advisers empower clients to navigate the complexities of wealth management and achieve their long-term financial objectives with confidence and peace of mind.

If you are looking for a financial adviser to help you with your financial goals, Compare Wealth Managers can find the right partner for you. We have carefully selected a portfolio of partners including investment management companies, integrated wealth management firms (financial planning and investment management), private banks, and offshore specialists who, together, offer our clients a full spectrum of financial services.

Different types of financial services offered by wealth management firms

Discussing your finances can be daunting, whether with an existing wealth manager or seeking someone new. It can be particularly difficult if you’re concerned about your portfolio's performance or unfamiliar with investment terms. However, an open yet informed approach is essential to ensure your financial objectives are properly understood and addressed. We have compiled some questions that may kickstart this process, and Rob Burgeman, Investment Manager at RBC Brewin Dolphin, has provided his insights.

How do you start a conversation with a wealth manager if your portfolio is not performing as you would like it to?

The wealth management industry faces a challenge in that advisers often know their clients well, which can make clients reluctant to voice concerns about portfolio management. After all, we probably know our clients better than almost any other profession does; your lawyer might know about your legal affairs, and your accountant might know about the tax you've got to pay, but we know people’s dreams and aspirations. You get to know people very well over many years and decades and see their lives change.

The solution, then, is for advisers to encourage open conversations, acknowledging the difficulty in raising concerns. While performance-related issues are typically addressed upfront, administrative problems may go unspoken, even if clients are unhappy. It’s important to have open and transparent communication to maintain a healthy client-adviser relationship, whatever the issue.

So how long is your average relationship with a client?

Client relationships tend to be long-lasting. You lose some clients over the years, but the majority stick around if you do things right. In the UK, people tend to be quite reserved when it comes to their finances. When people come into money, they can often struggle due to a lack of financial education. Many are unfamiliar with the concepts and language around insurance, loans, pensions, and savings. So, when you develop a relationship with a client, it usually lasts.

Do clients struggle to admit that they don't know anything about finance?

It depends on their situation. If you’re unsure about financial matters, you often don’t know the right questions to ask – and asking the right questions is crucial.

For example, many entrepreneurs turn to their bank for advice after selling their business. While understandable, banks are limited in the advice they offer and sometimes, seeking advice elsewhere is a good call, since it’s usually more impartial.

It’s important that people understand that when looking at financial planning, there is no one-size-fits-all solution. You have no certainty about how people's plans are going to evolve or what the tax situation will be in the years to come.

Financial planning is like building a portfolio; you need a mix of assets for different needs. You need to consider cash savings and pensions, but you also need rainy-day money. Regular reviews are essential as life changes, ensuring your financial plan stays relevant. It's a journey with twists and turns, so planning should be an ongoing, iterative process.

Many people don’t know where to start when they receive money suddenly. What questions would you suggest they ask when selecting a wealth manager?

Firstly, ask about the organisation and team you are dealing with. How are they structured? Who will I be dealing with and what are the succession plans within the team? After all, if you are going to establish a long-term relationship with a firm, it is important to understand how that might evolve over the next ten or fifteen years. Does the organisation share your values, both personally and professionally? Check if they have a diverse team catering to different preferences. Since relationships in finance are often multi-generational, ensure the team is equipped to handle that. Don't shy away from asking about their team structure and hiring practices.

It's crucial to have a breadth of options tailored to your unique circumstances. Ask if they can explain things in plain English – no jargon, please! Communication is key, and you want someone who listens to you and can explain complicated concepts and solutions in simple language. Again, regular reviews are vital for adapting to life's changes, so check these are offered.

Find someone that you can relate to not just at a personal level, but also someone who can help you learn and understand - “I know exactly what she/he is doing with my money” should be the outcome, not an aspiration. Remember, there's no one-size-fits-all solution, so feel free to ask questions and find an adviser who understands your individual needs.

So rather than what kind of questions I should be asking, should I check whether my wealth manager is listening to what I'm saying?

Absolutely! Potential clients have varying levels of knowledge. You have to take them on a journey and get them to a point where, over the years, they learn and understand better. People's needs, requirements and views are very fluid, so most people cannot say with certainty where they will be when they retire.

Whether discussing investments or broader financial planning, the process should be about making complex topics relatable. Avoiding jargon, focusing on real-world impact, and ensuring plans are adaptable over time are key. A good wealth manager regularly reviews a plan to ensure it aligns with the client's evolving needs, whether they are retiring at 65 or buying a yacht. Flexibility is key.

You talked about regularly reviewing the plan, so how many times a year would you revisit it?

Sometimes there are periods where very little may change, and at times like these, an annual review is probably sufficient to ensure the financial plan is still on track. However, as you approach retirement (for example), more frequent meetings may be needed as it is crucial to reassess and adapt. Retirement, much like starting a job, takes time to settle into. While grand plans may evolve, the "new normal" of retirement involves establishing new goals and objectives. Once this period is worked through, you review as often as you need to review, but once a year I'd say is probably enough to make sure that nothing's changed, and ensure nothing crucial is overlooked. The relationship with your wealth manager is like having a financial partner – always there, on call, and approachable, going beyond just performance metrics.

Do a lot of clients review and query costs and charges?

It is common for people to review interest and fees and question why they're being charged a certain amount. Clients must understand what they're getting for the price and whether they value those services. At our end, we prioritise transparency – our charges are clearly outlined on our website.

Would you say transparency is important when it comes to fees and charges?

Transparency when it comes to fees is important in building trust and fostering a positive client experience. We believe in providing clear and upfront information to help our clients make well-informed decisions based on their financial goals and values. Our approach prioritises open communication and ethical practices to allow clients to feel confident in understanding all the costs involved and make decisions that are right for them.

Do clients want to know exactly where their money is being invested and do they suggest

When it comes to understanding where their money is invested and suggesting investment allocations, clients have varying levels of engagement. This is understandable and reflects people’s different levels of interest in financial matters.

Some clients have specific ethical considerations, so they might request that we don’t invest in alcohol companies, for example. Again, this is all perfectly normal as part of a bespoke service. What is important is that the consequences of these exclusions (or inclusions) are explained and articulated. One of the skills of the wealth manager is to have big ears, to listen to what clients are truly saying, and to explain what those decisions mean. It’s a question of taking them with you rather than simply ticking boxes.

Is there time for you to pick individual stocks or do you have arranged portfolios that you offer your clients?

A lot depends on the degree of sophistication clients have and how complex their needs are. For someone with a relatively straightforward situation, a simple, cost-effective solution might be appropriate. It's about finding a suitable approach that aligns with their goals. On the other hand, if there's a need for more in-depth management for larger portfolios or specific requirements, a more bespoke approach is considered. It's about striking the right balance between complexity and simplicity, ensuring the chosen solution aligns with the client's needs and preferences.

If you were to look for a wealth manager for yourself, what would be important for you?

It's all about finding the right fit for you in the world of financial planning and wealth management. We are introduced to a lot of clients through recommendations because they don't know who to go to. So, I’d get recommendations from friends and conduct my own research by meeting with a couple of firms. I wouldn’t be swayed solely by a famous name or a royal connection; I’d focus on what truly matters to me.

I’d check online, do a bit of research, and trust my instincts. Different firms may offer similar services, but it's crucial to find one that aligns with your values and preferences. Trust plays a part, and considering the size and scale of an organisation can give an insight into its financial stability. Remember, what works for one person may not work for another, so it's about what suits your unique needs and goals.

Which qualities would you say are a “must”?

Honesty, transparency, and empathy. Those, to me, are key characteristics. At the same time, recognising vulnerability is crucial as a financial adviser. Whether someone recently sold a business or is navigating finances after losing a partner, each situation is unique. Empathy plays a key role. Treating people with respect and understanding goes a long way.

How do you set up goals for a client? In amounts or dates?

Setting goals for clients can be tricky because they often change. While some have specific financial objectives such as retirement or passing wealth to their kids, others might have more subjective goals, like (occasionally) “I want to buy a Maserati”. It also depends on, whether you look at the goal from an investment or a wealth manager perspective.

What would be the difference in the approach of a wealth manager and an investment manager?

A wealth manager takes a comprehensive approach that considers a client’s complete financial picture beyond just investments. This includes pensions, inheritance planning, long-term savings, and personal goals. The key distinction from an investment manager is designing a personalised plan to align their finances with their goals. Investment management is a crucial part of this, but it’s part of a broader wealth management strategy tailored to the client’s objectives.

Let’s say I sell my business and suddenly receive £1m or £2 million cash, is there a minimum requirement to get the services of a wealth manager or investment manager?

We do have minimum investment thresholds, but in this scenario, you’d have access to different portfolios and wealth management services.

What type of services would a wealth manager offer?

Inheritance tax planning, pensions, investments, savings and protection.

What are the risks associated with working with you?

We have strong governance and stringent controls in place to reduce risk across all levels - individual, team and organisational. Robust policies and procedures ensure ethical conduct and regulatory compliance. This comprehensive approach ensures we look after our clients’ interests.

If I’m looking for an expert to help me with my finances, should I go to an investment or a wealth manager?

For most people, the answer would probably be a wealth manager. That’s because most people need help with their wider financial circumstances rather than simply investments. The wealth manager would look at the whole picture, considering what money you owe, critical illness coverage and protection, pension provision, estate planning, and so on. Investment management might well be included in one or several of these areas, but the focus should be on making sure that that broader picture is as it should be.

Compare Wealth Managers offers a free service to help you find a wealth manager. Simply click the orange "start comparing" button to get started.

Questions to ask a Wealth Manager

International Women's Day serves as a poignant reminder of the progress women have made in various fields, including finance and investment. Despite the progress, challenges persist, and financial empowerment remains a key focus for women around the world.

Gender penalties, such as motherhood, childcare and menopause, amongst others, have made it challenging and overwhelming for many women to have positive financial experiences, particularly in the investment field. Megan Jenkins, Partner and Chartered Financial Planner at Saltus reminds us that whilst there have been advancements in closing the gender pay gap, it still remains. «The earnings difference means that men and women ultimately start their wealth journey on uneven ground. This may mean women need to save more to achieve the same outcomes in retirement and so planning ahead and starting on their journey early is key.»

In this empowering day, let’s explore the unique challenges women face in the realm of finance, particularly in the context of investing. Despite them, there’s an increasing number of women entering the investment world, therefore we share some initiatives which are actively working to bridge the gender gap.

Historically, women have encountered unique challenges related to finances, including wage gaps, career interruptions due to caregiving responsibilities, and longer life expectancy leading to increased financial planning needs. Poppy Fox, Investment Director at Quilter Cheviot, 

 some of these hurdles: The Motherhood penalty, for instance, translates into mothers earning 20% less than fathers ten years after the birth of their first child and very few new parents opt to take shared parental leave. Another one is the childcare penalty, since 65% of mothers work compared with 93% of fathers, according to ONS statistics. In addition, many of the informal care responsibilities performed in families are assumed by women, such as taking care of elderly family members, and when women hit menopause, statistics show that one in 10 women have left work due to menopause symptoms, 14% reduced their hours at work and 8% decided against applying for promotion.

These challenges often translate into distinct barriers to entering the world of investments. “Women typically spend 10 years away from full-time employment to start families and care for children. When you combine lower income with career breaks or reduced working hours to accommodate for childcare this all adds up to a widening pensions gap in the UK» adds Megan Jenkins. “On average, women save an eyewatering 33.5% less than men by the time they reach age 65. That said, the position is improving, and regularly reviewing your pension savings can help close the gap even if you choose to take a career break.»

Risk Aversion and Investment Decision-Making

Quilter Cheviot emphasizes how women may have differing approaches to risk compared to their male counterparts. Women tend to be more risk-aware, preferring a more cautious investment strategy. While this can be seen as a prudent approach, it may limit the potential for higher returns and long-term wealth accumulation. “It is often reported that women are “more reluctant to take financial risks than men”. This may be in part because women arguably have less room for error with their finances than men, due to everything discussed above», Megan Jenkins notes. «If you take two ends of the spectrum, women make up around 50% of landlords in the UK, with property being seen as a somewhat safe investment, yet they only make up 8.5% of cryptocurrency investors.»

Although this tide may be changing, understanding how and when to take the appropriate level of risk for each individual is crucial. «Taking less risk with your investments could mean that you have a greater risk of falling short of your goals. Prioritising each of your financial objectives can help paint the picture of the appropriate level of risk to take across your portfolio. This is not to suggest taking levels of risk that you are uncomfortable with, instead, making informed choices on how much risk to take based on how this will meet your objectives» Jenkins adds.

Olivia Newmann, Private Client Manager at Brooks Macdonald, understands that Investing can be complex and disconcerting, especially during volatile periods, so guiding each client through their own financial challenge is key. “We will explore how much risk you’re comfortable taking with your money, and factor in other important considerations like the current economic climate and tax implications.» As for how to react in volatile times, Olivia adds: “We would encourage investors to stay invested through uncertain times. Investments can be volatile in the short term but can have the potential for growth in the long term. We can help with rational decision-making, keep you focused on your long-term plan and spread your risk by investing in a broad portfolio of different asset classes.»

Access to Funding for Female Entrepreneurs

 is one of many institutions that have set up specific funding for female entrepreneurs since they recognize the challenges faced by female entrepreneurs in accessing funding. «Limited access to capital has been a longstanding barrier for women looking to start and grow their businesses. Addressing this issue is crucial not only for individual success but for fostering economic growth and diversity.»

The UK Business Angels Association's "Women Backing Women" program is a commendable effort to connect female investors with female entrepreneurs. By fostering a supportive community and providing networking opportunities, this initiative aims to break down barriers and encourage more women to become active participants in the investment ecosystem. Olivia Newmann, along with other female investment directors at Brooks Macdonalds, have created “

”, an initiative aimed to “empowering women on their financial journey”. 

Despite the challenges, there is a positive shift in the financial landscape, with more women actively participating in investments. Several initiatives and platforms are contributing to this transformation, ensuring that women have the knowledge, resources, and support needed to navigate the investment world. In addition to the mentioned above, Quilter Cheviot, with Poppy Fox in the lead, have also created the “

”, a specific site where women can access information, webinars and many other resources that can help them navigate their investment journey.

Investing has many benefits in general, which is why more women should take the lead in their financial journey and start capitalizing on their money. «Investments also help to counter the effects of inflation which could reduce the buying power of your money over time. The earlier you can start saving and investing, the more potential you will have for your wealth to grow. You'll have more time to take advantage of the power of compounding.», Olivia reminds us.

It is of utmost importance to allow women to access educational pieces that will empower women financially. Quilter’s and Brooks Macdonalds’ initiatives provide valuable insights, tips, and success stories to inspire and educate women about the world of investments.

However, for those who are taking their first steps in the investment world, professional advice is key to having a successful start. “A financial adviser can help agree your goals, budget, structure your investments and ensure you use available allowances. It’s important to get the basics right and have a financial plan in place» remarks Olivia Newmann.

Megan Jenkins also adds that financial planning is individualised and, «whilst every individual will have different needs and wants, and face different challenges along the way, there are certain factors that feature more in women’s lives.» She explains that women on average live longer than men, by an average of 3.5 years in the UK, so they will need to ensure that they can sustain their retirement income for a longer period of time. «Whilst it is hard to predict how long you will need your funds to last, we can help to project forward to begin to map out your financial journey using cashflow modelling. We can also carry out financial scenario planning based on different outcomes. For example, what if you outlive your partner, or alternatively what if they outlive you? Or what if you are the sole earner? By creating various scenarios, you can have confidence that the plans you put in place will lead you on your way to achieving your financial goals, regardless of which road life takes you on.»

In several markets, women already hold significant wealth, with the potential to drive economic dynamism and resilience. Globally, women's wealth has grown unprecedentedly in the past decade. According to the 

, women now control 32% of global wealth. This is set to grow at a compound annual growth rate of 5.7% to $97 trillion by 2024.

Empowering women to take leading roles is a must across all industries, and educating women early on is key to helping them achieve leading positions. Some progress has been made in breaking gender barriers within the financial industry thanks to initiatives that promote diversity and inclusion. These are essential in creating a more balanced and representative environment, ultimately empowering women to pursue leadership roles in finance.

UN Women and the UN's Department of Economic and Social Affairs publish an annual update on progress towards SDG5, which aims to achieve gender equality and empower women and girls. This year's International Women's Day theme is 

As we celebrate International Women's Day, it is crucial to acknowledge the progress made in empowering women in the financial and investment sectors. The challenges persist, but initiatives and resources are actively working to bridge the gap. By fostering a culture of financial literacy, breaking down barriers to funding, and promoting diversity in leadership, we can create a more inclusive and equitable financial landscape for women worldwide.

Empowering Women Through Investment: Overcoming Challenges and Driving Financial Independence

Chancellor Jeremy Hunt has just delivered the highly anticipated Spring Budget 2024, unveiling a range of economic measures aimed at bolstering the UK's financial stability and addressing key challenges. The focal point of the budget announcement is a significant cut in national insurance, echoing the government's commitment to support businesses and individuals.

The primary headline from Chancellor Jeremy Hunt's Spring Budget 2024 is the announced national insurance cut, marking a bold move to stimulate economic growth. In his statement, the Chancellor announced a 2p cut to the rate of National Insurance paid by employees. 

 reports that this reduction is not the first of its kind, suggesting a sustained effort by the government to alleviate financial burdens on both businesses and workers.

This 2p cut will save the average worker an estimated £450 a year, rising to £900 when combined with a similar reduction announced last autumn. The tax cut will be paid for through a mix of tax increases elsewhere, on business class airfares, owners of short-term holiday lets, vapes and tobacco.

"In a surprising move, Chancellor Hunt has once again chosen to cut national insurance, signalling a commitment to easing the financial strain on businesses and individuals," states Investors Chronicle. The 

 provided additional insights into the scale and scope of the national insurance cut, underlining its potential impact on disposable income and consumer spending. The move is expected to be a key driver in revitalizing economic activity and instilling confidence in the business community.

s coverage of the Spring Budget 2024 emphasizes the government's dedication to supporting small businesses, recognizing their pivotal role in the nation's economic recovery. The Chancellor's statement underscores various measures aimed at reducing red tape, offering tax incentives, and fostering an environment conducive to entrepreneurial growth. Amongst these incentives are the rise of the threshold at which small businesses must register to pay VAT, going from £85,000 to £90,000 from April, as well as a year’s extension of the loan scheme for small businesses implanted during the pandemic. "Chancellor Hunt's budget reflects a clear commitment to nurturing small businesses, acknowledging their vital contribution to the UK economy," reports the BBC.

The Chancellor's statement outlines substantial investments in key sectors such as transportation, healthcare, and technology. These investments are expected to not only create jobs but also enhance the country's long-term economic resilience.

 insight on the announcement indicates a strong emphasis on infrastructure spending, reflecting «the government's vision for a modern and robust economy».

 out together a breakdown of what was announced, highlighting the following:

The government has announced intentions to replace the non-domiciled tax status, which provides tax incentives for wealthy overseas residents. Rather, they will implement a brand-new programme known as the "modern residency system," which is meant to be equitable and competitive.

A new sort of ISA, the "British ISA," will be introduced. This will provide the public more chances to save and invest by providing an extra £5,000 tax-free allowance for investments made just in the UK.

The higher rate of property capital gains tax will drop to 24% from 28%. This initiative is expected to boost revenues by encouraging more property transactions.

Effective April 6, employees' National Insurance contributions will be lowered. The ordinary earner will benefit from this cut, which will result in an annual rate decrease of 2p.

Announced changes included adjustments to daycare benefits. With effect from April 2026, the benefit will now take household income into account as a whole rather than as an individual component. In addition, the tapering maximum for urgent help would increase to £80,000, and the threshold will increase from £50,000 to £60,000.

Chancellor Jeremy Hunt's Spring Budget 2024 has set the stage for a renewed economic landscape, focusing on national insurance cuts, support for small businesses, and strategic investments in infrastructure. As the nation grapples with economic challenges, the measures outlined in the budget aim to stimulate growth, foster innovation, and provide a solid foundation for a prosperous future.

Investors, businesses, and individuals must stay informed and analyze the potential implications of these budgetary decisions on their financial strategies. As the government's fiscal policies unfold, the finance community will closely monitor the outcomes and adjust their approaches accordingly. 

If you are looking for a financial adviser to help you adjust to the upcoming changes, Compare Wealth Managers can help you find the right partner. We have carefully selected a portfolio of partners including investment management companies, integrated wealth management firms (financial planning and investment management), private banks, and offshore specialists who, together, offer our clients a full spectrum of financial services.

Spring Budget 2024: What you need to know

Every four years, we are granted an extra day in the calendar known as leap year. While this additional day may seem inconspicuous, it can have both positive and negative implications on our finances. In this article, we will explore the financial pros and cons of leap years this February 29, one that provides 366 opportunities to change your financial future.

The leap year offers extra opportunities to improve your finances, such as:

, leap years can provide investors with unique opportunities. The extra day allows for an extended trading period, potentially influencing market dynamics. Investors may strategically leverage this additional time to make informed decisions and capitalize on market fluctuations. Maybe use that extra payday to contribute to your 

 suggests that some companies may choose to recognize the additional day in a leap year by providing employees with a special pay bonus. This unexpected windfall could significantly impact individuals' finances, offering an opportunity for savings, 

 highlights the potential advantages for businesses during leap years. With 366 days instead of the usual 365, companies have an extra day to meet sales targets, complete financial transactions, and execute strategic business plans. This can contribute to improved financial performance and growth.

366 days instead of 365 might mean some unexpected events could come our way:

Kiplinger warns that the extra day in a leap year can disrupt budgeting and financial planning. Considering the irregularity introduced by the extended calendar, individuals and businesses may find it challenging to allocate resources effectively. 

 might be needed to help you overcome these unexpected challenges. 

Leap years can bring unexpected expenses for businesses, such as adjusting payroll systems to account for the additional day. As The Telegraph suggests, this may lead to increased operational costs, impacting overall financial stability.

According to Kiplinger, the extended trading period during a leap year may also introduce heightened market volatility. Investors should exercise caution and consider potential risks associated with market fluctuations during this time.

Leap years present both financial opportunities and challenges. Investors can strategically navigate market dynamics, businesses may capitalize on the extra day for growth, and employees might enjoy unexpected financial perks. However, budgetary disruptions, unforeseen expenses, and market volatility are also factors that demand careful consideration. As we embrace the additional day in a leap year, it is essential for individuals and businesses alike to proactively manage their finances, leveraging the opportunities while mitigating the potential drawbacks.

On this day, take a leap and let us find you the perfect partner to help you navigate the unforeseen changes and the opportunities that this particular event provides. 

How a Leap Year may impact your finances

Selling your business is a significant undertaking that requires careful planning and execution. We've talked to several financial advisers to compile a list of the most important aspects to consider when exiting your business. They emphasize the importance of preparation and strategic decision-making throughout the process, with the right team guiding you before, during and after the entire operation.  

Embarking on the journey of selling your business is a significant step in your entrepreneurial career. As you prepare for the transition, it's crucial to be aware of the complexities and challenges that come with the process. To guide you through this complex journey, we've compiled a comprehensive guide with insights from financial advisers. Here are the 10 key steps to keep in mind:

1. Build Strong Relationships with Advisers Early On

Develop a comprehensive team of skilled legal, accounting, and 

 professionals to guide you through the sale process."Entrepreneurs need to take time to meet a range of advisors and establish with whom they would like to work. The relationship and trust are essential" remarks Rosie Bullard, Portfolio Manager and Partner at James Hambro and Partners. Make sure you surround yourself with trusted people who can accompany you throughout the entire process. 

2. Invest in a Comprehensive Business Plan

"Invest in a (business) plan with both a short-term and a long-term strategy... Ask yourself why you are selling your business and build your plan after that." Stewart Sanderson, Senior Private Client Director at Brooks Macdonald, reminds us that looking at the whole picture is a must at this stage. 

Craft a business plan that aligns with your short-term and long-term goals, ensuring clarity on why you are selling and how the sale fits into your overall strategy.

Undertake legal and accounting due diligence, surplus cash extraction, and develop a business continuity plan, ensuring that both personal and business considerations are thoroughly addressed. As Ann-Marie Atkins, Managing Partner at Evelyn Partners., remarks: "Both the business and the owner should be in a strong position to start discussions if the necessary pre-exit reviews, planning, and structure have been completed." 

4. Evaluate and Choose the Right Exit Strategy

Leaving the company you've built can be a difficult step to take, which is why Ann-Marie Atkins recommends taking time to consider the best exit strategy for you and your business, "whether it's an external exit, structured exit, or family succession."  

Explore various exit strategies, such as trade buyers, private equity, employee ownership trusts, management buyouts, or family succession, and align them with your post-exit plans.

5. Plan for the Unexpected and protect your business

Acknowledge that not everything may go as planned, and maintain open communication with advisers to discuss potential scenarios. "Don't be afraid to take your time... Education is key.", acknowledges Stewart Sanderson. 

Retirement Planning

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