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Understanding the role of a second opinion in financial planning

Fiduciary Wealth offers a comprehensive range of professional services to third party providers such as Trustees, Pension Funds, Foundations, Family Offices, Tax advisers and Legal and Accountancy Practices as well as to individuals who may be seeking an expert second opinion regarding their finances.

This valuable fee-based service uses our deep experience, and in house expertise to assist in a number of areas from portfolio analysis to financial dispute resolution.

Portfolio Analysis Reports

In the financial world risk is everywhere, get something wrong and there is always an injured party looking to seek recompense. Our portfolio risk management service is the perfect solution for corporate service providers, Trustees and Foundation Councils who have a legal obligation to ensure that they are always acting in the best interests of their clients and beneficiaries. Too often we have seen these professionals rely heavily on a favoured provider to implement and maintain investment portfolios which might only be questioned when things start to go wrong or when beneficiaries begin to seek answers about performance or risk.

Wouldn’t it make sense for complete peace of mind to use our portfolio risk management service?

Let our independent analysts review the portfolios you maintain on behalf of your clients and provide an in-depth report assessing performance against the benchmarks that have been set and a number of important key investment metrics such as skewness, value at risk and Sharpe ratios.

This bespoke service extends well beyond just a review of established portfolios and can include:

  • Defining the family’s needs and Investment Objectives.
  • Client Risk Profiling and Suitability Assessment.
  • Designing and/or Reviewing of Investment Policy Statement.
  • Establishing Performance Benchmarks.
  • Asset Allocation Modelling.
  • Beauty Parade and Investment Manager Selection.
  • Portfolio Performance Monitoring.
  • Fee Negotiation and Agreement.
  • Second Opinion and reviewing investment proposals.
  • Quarterly performance reviews against appropriate benchmarks
  • Private Client Reporting: presenting a consolidated global snapshot of family global wealth
  • Acting as Protectors.

Get A Second Opinion

Everyone these days wants a second opinion especially when market conditions are challenging and volatile. A second opinion can solidify your strategy and eliminate doubt. Even when you get regular advice from an experienced professional you can often benefit from a second opinion.

Perhaps you are concerned that your portfolio is too risky or that your plans have changed and yet your portfolio has stayed the same? Maybe your adviser has been less proactive than you expected or perhaps your bank or financial advice firm is no longer available or cannot provide the level of service you need.

Whatever your circumstances it can pay to take advantage of a thorough review so that you can be comfortable that yours or your clients’ plans are on track. You can book a second opinion consultation by calling +44 207998 0570.

Financial Dispute Resolution

When things go wrong you look for answers and accountability. You or your clients may have been missold a financial product or investment or may just have been given really poor advice which is out of sync with initial requirements. Unfortunately, no matter how careful you are it is sometimes impossible to eliminate this type of risk and some of the bad practices that still exist within this industry particularly in the expatriate space.

When trouble happens, you need to act quickly. Our financial dispute resolution service is based on years of experience understanding what regulators require and the minimum standards advisers should adhere to. We have seen many examples of bad practice and can help you put together a case that can be presented first to the firm that gave the original financial advice and then to regulators, arbitrators and lawyers depending on the process needed.

We will forensically examine the process that led to the advice being given in the first place and piece together the sequence of events leading to the loss. We understand the jargon and can help cut through the delays and obstacles often put up by firms to avoid meeting their responsibilities to their clients.

Over the years our service has been extremely successful in obtaining financial compensation for clients who have been badly advised and suffered financial loss.

Expert Witness

Legal professionals quite often need to engage the services of an expert witness to provide valuable information to a Court when there is an unresolved dispute between parties. Our team of experts are extremely capable of analysing and reviewing material with an aim to producing an independent assessment capable of being used in a court of law. If necessary, our experts are prepared to take the stand in court.

Financial Planning Audit Reports/Investment Analysis Reports

Our team of professionals will take your instructions and produce a high quality report based on your requirements. Audit reports and investment analysis reporting are just two of the areas we cover but essentially whenever a professional independent report is required on any aspect of financial planning or investment then our team are able to produce the required analysis within the specified time frame.

Testimonial

Explore our client testimonial video and witness the transformative power of our financial planning and wealth management advice. Hear how our services have guided clients towards financial success, providing strategic insights, and maximizing their wealth. Discover the impact of our financial planning solutions first hand and unlock the path to a prosperous financial future.

Frequently Asked Questions about Second Opinion, Financial Dispute Resolution, and Expert Witness Services

As British expats navigate the complexities of financial matters while living abroad, there may arise situations were seeking a second opinion, financial dispute resolution, or expert witness services becomes necessary.

This FAQ aims to address common questions and concerns regarding these specialized services for British expats. Whether you are facing a financial dispute, seeking clarity on complex financial issues, or require expert testimony in legal proceedings, understanding the benefits and process of engaging professionals in these areas is crucial.

By exploring the key aspects of second opinions, financial dispute resolution, and expert witness services, this FAQ will help British expats make informed decisions, protect their interests, and find resolutions to financial matters while living abroad.

Here are some frequently asked questions to help you understand these services and how they can benefit you:

A second opinion refers to seeking an independent evaluation or assessment from a qualified financial expert on matters such as investment strategies, financial plans, or complex financial transactions. It provides an unbiased perspective and can offer valuable insights, alternative solutions, or confirm the appropriateness of existing financial arrangements.

There are several reasons why you might consider seeking a second opinion:

Validation: You may want to verify the advice or recommendations received from your current financial advisor or institution to ensure they align with your best interests.

Complex Situations: In complex financial situations, such as estate planning, business transactions, or investment strategies, a second opinion can provide additional expertise and insights.

Peace of Mind: A second opinion can offer reassurance and peace of mind, especially when making significant financial decisions or dealing with unfamiliar financial concepts.

Financial dispute resolution involves the impartial assessment and resolution of financial disagreements or conflicts. It typically follows a structured process that may include the following steps:

Initial Assessment: The financial dispute expert reviews the relevant documents and gathers information about the dispute.

Mediation or Negotiation: The parties involved in the dispute are encouraged to engage in mediation or negotiation to reach a mutually acceptable resolution.

Expert Evaluation: If mediation or negotiation fails, the financial dispute expert conducts an impartial evaluation of the facts, evidence, and applicable laws to provide an expert opinion on the matter.

Resolution Recommendation: Based on the evaluation, the financial dispute expert provides recommendations or opinions to assist in resolving the dispute. These recommendations may be used in settlement negotiations or legal proceedings if required.

Expert witness services involve the provision of expert opinions, testimony, or reports in legal proceedings related to financial matters. Financial experts with specialized knowledge and experience are engaged to provide objective analysis, interpretation, and evidence to assist the court or arbitration panel in understanding complex financial issues.

When selecting a provider for these services, consider the following factors:

Experience and Expertise: Look for professionals with extensive experience and qualifications in finance, investment, financial planning, or related fields.

Reputation and Track Record: Research the provider's reputation, client testimonials, and track record in successfully resolving disputes or providing expert second opinions.

Independence and Impartiality: Ensure the provider operates independently and maintains impartiality to offer unbiased advice or evaluation.

Understanding of Jurisdiction: If your financial matter involves legal proceedings, choose a provider familiar with the legal jurisdiction applicable to your case.

Communication and Transparency: Select a provider who communicates effectively, provides clear explanations, and maintains transparency throughout the process.

Second opinion services, financial dispute resolution, and expert witness services offer several benefits:

Independent Evaluation: These services provide an impartial assessment or expert opinion, helping you make informed decisions based on unbiased information.

Resolution Assistance: Financial dispute resolution services can facilitate the resolution of disputes through mediation, negotiation, or expert evaluation, potentially avoiding lengthy legal battles.

Expertise and Insight: Professionals providing these services have specialized knowledge and experience in finance, investment, or financial planning, bringing valuable insights and expertise to your specific situation.

Enhanced Decision-Making: A second opinion can help you evaluate the effectiveness of your existing financial strategies or explore alternative options, allowing you to make well-informed decisions that align with your goals.

Resolution Efficiency: Financial dispute resolution services offer a structured approach to resolving conflicts, potentially saving time, costs, and emotional stress associated with lengthy legal proceedings.

Expert Testimony: In legal cases, expert witness services can provide objective analysis and evidence to support your position, bolstering your chances of a favourable outcome.

Yes, these services can be beneficial in a wide range of financial areas and industries, including:

  • Wealth management and investment disputes
  • Retirement planning and pension disputes
  • Estate planning and inheritance conflicts
  • Financial fraud investigations
  • Divorce or family law matters involving complex financial issues
  • Regulatory or compliance investigations

Confidentiality is a critical aspect of second opinion, financial dispute resolution, and expert witness services. Reputable providers maintain strict confidentiality protocols to protect your sensitive financial information and ensure privacy. When selecting a provider, enquire about their confidentiality practices and ensure they prioritize data security and privacy.

To initiate these services, reach out to a reputable provider specializing in second opinions, financial dispute resolution, or expert witness services. Consult with them to discuss your specific needs and circumstances. They will guide you through the process, gather relevant information, and provide the necessary support to address your financial concerns or resolve disputes effectively.

The costs of second opinion, financial dispute resolution, and expert witness services vary depending on the complexity of the matter, the provider's expertise, and the specific services required. It is advisable to discuss the fee structure and obtain a clear understanding of the costs involved before engaging our services. Keep in mind that the benefits of receiving independent advice, resolving disputes efficiently, or obtaining expert testimony can often outweigh the associated costs.

Summary

Remember, seeking a second opinion, utilizing financial dispute resolution services, or engaging expert witness services can provide valuable insights, assistance, and resolution in complex financial matters. It's essential to choose a reputable provider who can offer impartial advice, expertise, and support tailored to your specific needs, ensuring the best possible outcome for your financial situation or dispute.

What Next?

To engage our professional services ask us for a quote. We work on a time basis similar to our friends in the legal and accountancy profession and our costs will depend on the complexity of the work undertaken, the level of expertise required and the length of time it will take to produce the desired outcome.

To get a second opinion or for a portfolio analysis report please call us on +44 207 998 0570 or email connect@fwm.gi