At Ardent Private Wealth our clients are mostly professionals, executives and business owners. Some have retired or choose not to work but none the less, remain active and involved often in advisory roles or engaged in philanthropic pursuits. All have moderate to significant financial complexity which at times is overlaid with a need for urgent assistance as they may find themselves suddenly wealthy or suddenly responsible.
While it may appear a dream come true, the jubilation of becoming suddenly wealthy can quickly turn to confusion and stress as you bear the weight of managing new found wealth. While winning the lottery is perhaps the more clichéd course to becoming suddenly wealthy, it is more likely the outcome of an inheritance or selling your stake in a business. Finalising your mortgage is a milestone often shared with the completion of your children’s education and your commitment to tuition fees, and this too can free up considerable cash resources. Lump sum insurance payments, the result of a total and permanent disability or a serious health trauma claim is a more sobering pathway to sudden wealth which also requires special financial considerations.
How much can you spend or should you save it? How much, if any, should you allocate to settling debt? Where will you store it and what impact will it have on your tax?
Imagine the enormity of stepping in when the patriarch of your family is no longer competent. Your power of attorney has been invoked and you are suddenly responsible for not just your parents’ complex financial affairs but for decision making around their living arrangements and ongoing healthcare. Similarly, what if a much younger family member suffers a serious illness or injury and becomes incapacitated for the rest of their life? Or perhaps you simply have a light bulb moment and realise that despite the considerable income you’ve earned year upon year, you feel a sense of financial uncertainty. How will you manage beyond your working life and will you and your family continue to enjoy your current lifestyle? The weight of responsibility can be overwhelming.
At Ardent Private Wealth we understand. You need clarity and a proven framework that provides financial leadership when you need it most.
The information contained within this website does not consider your personal circumstances and is of a general nature only. You should not act on it without first obtaining professional financial advice specific to your circumstances. This website holds information for Australian residents only.
Ardent Private Wealth and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306