Myth busting: Using modern wealth management when investing

By Swindon Link - 6 July 2023

Expert Voices

Modern wealth management is one of the most important aspects when it comes to investing your wealth effectively.

However, it’s also one component many find complex, particularly since there are many myths surrounding the process.

To help offer more understanding for investors, we’ve busted these common myths on modern wealth management to provide more clarity.

Read on to learn more.

Wealth managers offer general advice

One common myth is that wealth managers only offer general advice to investors. The truth is, your financial advisers can provide unique advice, that’s tailored specifically to your financial situation.

Your adviser will make sure they understand every aspect of your circumstance, through things like a full analysis of your income – including how you’re spending, your financial dependents, etc.

In addition, they’ll discuss any obstacles you may be facing in your financial journey, to gain a clearer idea of your personal challenges.

This can help your advisers offer the right recommendations that meet your unique requirements. The more accurate their advice is to your situation, the more chance you have of a successful financial outcome.

Wealth managers are only for certain circumstances

Another myth surrounding wealth management is that the service is only beneficial for certain circumstances.

In fact, modern wealth management can significantly improve your finances in a range of scenarios.

For example, you could be trying to build your wealth effectively towards retirement, or wanting to leave an inheritance for your loved ones. Also, you might be wanting to simply manage your investments better, such as your Individual Savings Accounts (ISAs) – a cash or lifetime ISA, for instance.

Whatever your specific situation is, your adviser can use their extensive financial knowledge to help you build the right approach to your investments, planning, and wealth monitoring.

Wealth managers only offer advice

Many might make the wrong assumption that wealth managers are only there to offer advice. As well as expert guidance, wealth managers can also take control of your investments on your behalf.

Your wealth managers can take over the process, which involves researching new investment opportunities, monitoring market performance, watching your investments, and entering and exiting markets for you.

They can offer the right balance of risk and potential profit for your investments, so you can grow your wealth efficiently whilst also aligning your approach with your financial situation.

This allows you to optimise your investments without the burden of time and effort needed to manage them yourself.

Wealth managers are a one-time help

The final myth we want to clear up is that wealth managers offer a one-time help service. Whilst a single consultation is an option for investors, you can in fact receive ongoing advice from your wealth manager.

There are a variety of things which could impact your investments as your circumstance evolves. For example, this could be economic changes for the tax year or market fluctuations, but it could also be individual changes in your lifestyle or career.

With ongoing advice, your wealth manager can help you review your investments continually and make the necessary adjustments to avoid as much negative impact on your wealth as possible.


With these common myths now cleared up, you should have enough information to consider a modern wealth manager for your financial situation, to help improve your financial approach.


Please note, the value of your investments can go down as well as up.

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