The future belongs to prepared families
Welcome to your autumn edition of The Wire, in which we’re focusing on the theme of stewardship.
And after a summer of high temperatures, the heat remains on for high net worth families who are facing more financial decisions than ever this autumn, not fewer. These might include when to give gifts, how to invest effectively, or the best way to support children. And there are plenty more besides.
From tax uncertainty and political change to the transfer of wealth between generations and private market complexity, wealth brings overlooked emotional dimensions alongside financial ones.
The solution doesn’t involve predicting the future but preparing for a range of possible and plausible futures.
At HFMC Wealth, we can help your family translate financial complexity into confident, long-term decision-making.
Key takeaways
- The future cannot be predicted, but family resilience can be planned.
- Good wealth planning is technical, emotional, and practical.
- Prepared families review their plans before events force them to.
First up this edition, read about the human return on wealth, as we ask: What is your money really for?
As a high net worth individual (HNWI), you likely know what your portfolio is worth. Read about how to reframe this value, and how advice can help you resolve emotional trade-offs as well as financial ones, turning your money from a source of pressure into a source of confidence.
Next up, and with the “great wealth transfer” underway, discover how to prepare the next generation for wealth, and why this family process should start right now. Strong communication, education, and an understanding of your values can all help to ensure the next generation is prepared and that your hard-earned wealth is in safe hands.
In an unpredictable world, it can be easy to feel anxious. Find out how to build financial resilience in the face of everything from climate and politics to the economy and household pressures. Financial resilience means uncertainty needn’t be feared, and the key is preparation. And HFMC Wealth is on hand to help.
Then, a recent report suggests that “late” estate planning (beginning at age 70 rather than 50) could cost the UK’s most affluent families a collective £12.3 billion in “unnecessary” Inheritance Tax (IHT). Read more about the research, the changing IHT landscape, and why starting your complex estate planning early could help to significantly reduce a potential tax bill on death.
We then move to current UK tax policy uncertainty and explore four key areas to watch as an HNWI.
From Capital Gains Tax (CGT) and pensions to gifting, IHT, and the Mansion Tax – which taxes could be reviewed under the new government, and what would changes mean for you?
We finish in the Netherlands, with a closer look at a four-day walking festival that champions time outdoors, social connection, and independence, values linked to positive wellbeing outcomes. We ask: What is Avondvierdaagse and could it be the secret to happiness?
With decades of combined experience, our team of finance professionals can help you think about the future and ensure that you’re prepared, whatever challenges life throws at you.
If your family’s world looked different in ten years, what would you wish you’d prepared for today? Should you spend as much time planning the purpose of your wealth as you spent building it? Are your plans resilient enough to accommodate tax, market, and family change?
These are just a few of the questions we hope this edition of The Wire will help you answer. We hope you enjoy reading, and until next time…
Best regards,
Lisa
