Wealth & Finance International - Wealth & Money Management Awards 2016

Wealth & Money Management Awards 2016 50 Pro Sport Wealth Management Ltd Award for Excellence in Sports Focused Wealth Management - UK As a specialist division within Group IFA, Pro Sport Wealth Management provides Chartered Independent advice to pro- fessional sports people on the management of their wealth. Managing Director, Gareth Griffiths, is a former professional football player, who retrained as a financial adviser in 2006 and now applies his financial acumen to deliver financial advice that is based on a very clear understanding of the opportunities and challenges that his clients face. He talks us through his firm and the work they do. Company: Pro Sport Wealth Management Ltd Website: http://prosportwealth.co.uk/ Pro Sport Wealth Management, as a part of Group IFA, works together with the other firms in the group as a strong and powerful collective. Our commitment to achieving the highest standards of services runs through our organisation. As an independent company we pride ourselves on forming lasting client relationships built on trust and confidentiality. Whether our client is a current sporting professional, retired, manager or coach, or board director, we work to understand their situation. We work closely with a range of professional service businesses such as accoun- tants, solicitors and agents and are very proud to have been named an Official Partner of the PFA since 2011. In order to achieve our high quality client service, it is imperative that our advisers possess specialist knowledge and understating of the culture in this niche area of advice. We have encountered many incidences of general practitioners being unfamiliar with the planning around a sports person’s life cycle which can lead to unfavourable outcomes. As a gen- eral rule paying down debt aggressively and preparing for decumulation from age 35 at best, as it determines different planning solutions than HNW with a much longer accumulation phase. Due to limitations on pension funding and access for high earners as well as the less attractive tax position of personally held property portfo- lios PSWM need to provide effective alternative investment solutions for clients. This can include the use of LLP’s, Ltd companies and tax wrap- pers such as EIS and VCT’s. Clearly one of the challenges is to ensure the tax tail doesn’t wag the dog in so much as a client’s attitude to risk is always a key driver to any recommendations. As a firm we are always looking to add value and this includes our internal resources. We are presently looking to attract high- ly qualified advisers who have an interest and preferably exist- ing relationships in the sporting world. We would welcome any advisers and support staff who are looking for a change to get in touch. WM16029