Frequently Asked Questions

Who is 'my wealth'?

my wealth  is a specialist provider of investment advice.  We work with many of the UK’s leading companies and pension schemes to help their employees and members understand their personal financial situation, whether they’re saving for their future or looking how best to maximise income at the point of retirement. Please see our company to learn more.

WEALTH at work and my wealth are trading names of Wealth at Work Limited which is authorised and regulated by the Financial Conduct Authority and part of the Wealth at Work group. Registered in England and Wales No.05225819. Registered Office: Third Floor, 5 St Paul’s Square, Liverpool, L3 9SJ. Telephone calls may be recorded and monitored for training and record-keeping purposes.

What is the Discretionary Managed Portfolio Service (DMPS)?

If deemed appropriate for your circumstances, your Adviser will create a tax-efficient strategy to fit your specific requirements, taking into consideration your attitude towards investment risk. You will then have the benefit of active management of your recommended investments, ensuring they continue to remain appropriate. By providing the investment managers with ‘discretion’, any changes are made automatically on your behalf and all transactions are clearly reported to you in our quarterly investment statements. Valuations and transactions are also available daily via our online portal.

As we operate on a discretionary basis, we are not only free to use the financial products from all financial institutions (the same as an Independent Financial Adviser), but by employing professional Investment Managers, we can also invest directly into the underlying investments of these products i.e. directly into investments such as corporate bonds, gilts and shares. Therefore, we can establish truly bespoke investment portfolios for our clients, choosing investments from the whole investment universe and importantly, without any restrictions.

What does the service cost?

The investment advice we offer is without charge or obligation to you. If you decide to follow our recommendations, our clear and simple pricing will ensure that you know at all times exactly what you’re paying.

Please see our services for more information on our discretionary managed portfolio service costs.

How often do you review my investments?

For clients of our discretionary managed portfolio service, we normally conduct an annual review.

However, you can contact us at any time to arrange a meeting with your Adviser.

How long does a one-to-one meeting take?

Our meetings usually last around 1 ½ hours and can be held at your home or at a venue of your choice.

What is the Treasured Stock Service?

The Treasured Stock Service allows you to transfer any permitted UK listed investment that you already hold and to retain this separately from your Discretionary Managed Portfolio.  We do not actively manage your Treasured Stock holding and will only act in relation to it upon receiving written instructions from you.

Investing can often be a risk – how do I calculate how risk adverse I am?

Risk refers to the likelihood that an investment can fall in value as well as rise. It also relates to the amount of uncertainty that an investment involves. It is important that you consider how much risk you are willing to take in order to meet your investment objectives. One of the first steps for you, as a potential investor, is to decide on your tolerance to risk. Broadly speaking, most people will fall into one of the following profiles representing their attitude to risk:

  • Adventurous
  • Balanced
  • Cautious
  • Very cautious

We understand that risk is a very important consideration for investors, so your Adviser will carry out a risk assessment with you before constructing a suitable investment strategy to meet your needs.

Can I invest in the short, medium and long term?

Yes you can, although the length of time you can keep your money invested will also help to determine which investments are suitable for you. In practice, it is usually best to spread your money across cash (short-term), bonds (medium-term) and equities (long-term) so that you have money that can be accessed in the short, medium and longer term.

Can I generate an income?

If you’re working and receiving a salary, you may not need your investments to generate an income. Instead, you will probably be more focused on building the value of your capital. However, once you retire, it may be important to have an investment strategy that can deliver a regular income and as a result, your investment strategy should be reviewed regularly to ensure your income is keeping pace with the rising cost of living.

What is capital growth?

Capital growth refers to the money you’ve invested (your ‘capital’) and by how much it can rise in value. Capital growth is important to help your money keep pace with the rising cost of living (inflation). You must bear in mind that capital growth is never predictable. There is no certainty what growth – if any – you will achieve and of course, investments can fall in value as well as rise. You will need to create a balanced investment strategy that will look to maximise the opportunity for growth, whilst keeping risk at a level that’s acceptable to you.

What if I already hold existing investments?

New and existing investments need to work together so it is vital to review what you already hold. All of your investments need to be assessed to ensure that they suit your current investment goals. It may be necessary to redeem existing investments and use the funds to build your new investment strategy.

Can you help me with tax planning?

Ensuring your investment portfolio is tax-efficient may help to maximise your investment returns. Tax planning can have a big influence on how you arrange your investments but it should never dominate your investment strategy. If you would like to learn more, please see our tax planning page.

How can I invest more money?

Additional money can be invested at any time. Please contact us to arrange a meeting with your Adviser who will happily meet with you to discuss your situation in more depth.

What if I have specific financial goals?

Specific financial goals such as paying for your child’s wedding, funding a holiday of a lifetime or helping with a grandchild’s school fees are important milestones to consider in your investment strategy. We will take into account any personal financial goals that you have in order to create an investment strategy tailored to meet your specific financial needs.

How will I be kept informed?

We will send you a quarterly valuation statement and if you wish to view your account online, you can register for online access to view your up-to-date valuation. Please contact us to arrange this. Your Adviser may also contact you at any time to discuss your portfolio.

If you have subscribed to our mailings, you will receive a bi-annual newsletter, weekly market summaries and also industry updates such as Budget announcements. If you have not subscribed to our mailings and would like to be kept up-to-date, please contact us.

Can I terminate my agreement at any time?

Yes, you may terminate your agreement by written notice at any time (not by email or facsimile). Contact details can be found here.

Who do I contact if I wish to complain?

We have a formal complaints procedure and endeavour to address any client concerns and complaints quickly and efficiently. A copy of our complaints handling procedure is available upon request. This is without prejudice to your right to complain to a regulatory body. If you are not satisfied with our response, you may contact the Financial Ombudsman Service.

My question is not here – how can I get an answer?

If you would like to find out more information about our services, please contact us. We will endeavour to answer your question as quickly and as thoroughly as possible.