Holistic advice: Just what does it mean in practice?

Neil Relph

Posted by
Neil Relph
02.10.2019

As a firm who strives to build long-term relationships with clients, we often talk about delivering ‘holistic trusted advice’.

But what does this really mean in practice and how do our private clients benefit from such an approach? In this article, Neil Relph discusses this further.

Learning from the past to guide the future

Whilst your previous tax returns and/or company accounts can provide a good snapshot of what has happened in the past, the role of a trusted advisor is to look towards the future.

This includes considering what is coming up, coupled with any legislation changes and how best to meet your future aspirations whilst optimising your tax position.

“We believe a collaborative approach between all your professional advisors is the best way to achieve this understanding and to build synergy. Our diagram below shows some of the advisors that you may appoint to support you”, said Neil Relph.

Working together with you at the centre

The trusted advisor relationship is so important because it allows us to always fully understand your needs and explore potential solutions that fit your longer term objectives.

“For example, if you are looking to sell your business in the next few years, tax planning opportunities should be coordinated in a way that will not damage the marketability of the business. On the other hand, it you are looking to retire in x number of years it is important that all advisors are aware so that they can help you to plan ahead to ensure you have the necessary funds”, says Neil.

While it takes time to build a circle of trust your selected professionals, each advisor has something valuable to share and by working together we can coordinate and provide a joined-up solution.

Your hand-selected team of specialists

When you hire specialists rather than generalists it means you will build a ‘best-in-class’ team who contribute their different skills and knowledge. The old saying ‘Jack of all trades, master of none’ certainly rings true.

“Our team is split into service specialisms so that we can offer a good capability in accounting, tax and advisory areas. This is why we will work with (or help you choose) other specialists who can add value for you”, says Neil.

Peace of mind on complexities

Often, clients’ financial and personal affairs can be complex and the future is always somewhat of an unknown. That is why it is reassuring for you, and us as your advisors, that we discuss your succession plans whether that be Family Trusts, Shareholder Agreements or Wills.

“Over the past 33 years I have worked with clients at the peak of their career through to later life. By understanding your hopes, fears and your most important personal and professional relationships it helps us shape our advisory services accordingly. Every client’s needs are different, and so their team of advisors should be selected to suit”, says Neil.

If you would like to find out more, please contact us. We would be delighted to meet you and your family, and discuss how we can work closely with your professional advisors, or help you establish your team.

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This information has been produced by Rouse Partners LLP for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of this information is accepted by Rouse Partners LLP. In all cases appropriate advice should be sought before making a decision.

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