23/06/2022 - 13:16

Private Wealth a holistic approach to financial freedom

23/06/2022 - 13:16

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Private Wealth a holistic approach to financial freedom
BDO Private Wealth advisers Justin Gilmour and Mark Pollock.

With increased merger and acquisition activity amongst small to medium enterprises resulting from many sectors starting to rebound combined with Western Australia opening its borders up, at BDO we’re seeing an abundance of clients requiring professional advice to help them navigate through complex scenarios often across multiple jurisdictions.

For example, many of our clients, after growing and developing their businesses over a number of years, have benefitted from selling-off their interests and are realising large sums of money and require strategic financial and tax advice.

BDO Private Wealth, is a holistic wealth management and tax advisory solution that has experienced considerable growth in response to the current market. The unique service offering is attractive to professionals, family businesses, privately owned companies and high net wealth families.

“Typically, a BDO Private Wealth client has a number of assets managed by a number of investment managers and often some of their assets are not listed and providing a consolidated portfolio is a real challenge. We’ve invested in a technology platform that provides a full picture of their financial position and is actively maintained across all interests that the client might have,” said Managing Director, Justin Gilmour.

“The technology allows us to do comprehensive reporting on a family’s overall situation regardless of who manages the money. You can have multiple investment managers and investment houses and we can report across your whole asset position. This is a key point of difference for us that is appreciated by our client base.”

Another priority is to help people manage their wealth with a view to benefiting future generations of the family.

“When people sell their business they take on a different risk profile and the challenge becomes how to make their wealth last and how to pass it on to the next generation,” said Justin.

“Often they’re so busy accumulating wealth that it’s not something they think about. That’s where we come in. We have expertise for all aspects of your business and private investment portfolio.

“And every part of the planning process is customised to your family’s personal circumstances, ambitions and, importantly, values. It’s not just limited to tax and wealth management. We provide an integrated approach to managing your investments.

“Recently, we were competing against established firms in Melbourne and Sydney for an important client and we were successful because our point of difference was no one else offered an integrated solution combining Wealth and Tax Advisory” said Mark Pollock, BDO Perth-based Tax and Advisory Partner.

“We bring expertise to the table when it’s needed as we have a number of professional advisers in our network that specialise in niche areas. It could be for a family charter or constitution, to help consolidate the number of advisors, for a legal matter – a whole range of things where we match the specialist to the need at the time. Clients really value the bespoke and collaborative approach we take in representing their needs with other advisers, so that we fully consider the risks and best outcomes for the client’s situation. A true one stop shop.”

 “At BDO Private Wealth, we share the journey with you to help you achieve your financial freedom, risk planning, succession and estate planning, and philanthropy.”

If you or your business are looking for a local adviser who can offer integrated private wealth services, get in touch with a BDO Private Wealth adviser today.

 

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