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Whatever your level of wealth, there is nothing wrong in making the decision to prepare a risk aversion strategy. Risk aversion is a reasonable and prudent strategy for anyone who is sure that they already have ample to provide for themselves and their family into the future.

There are plenty of ways of preserving wealth in real terms, protecting against most of the uncertainties that may threaten it and allowing you to sleep at night, but the unidentified risks are a far greater threat to your wealth than tax. Whilst tax may threaten a proportion of your wealth, poorly-identified risks can destroy it all.

Risk aversion starts with asking oneself a few questions such as:

• Is my job secure?
• What happens if my employer goes bust?
• How secure are my investments?
• What happens if a company I have invested in collapses or is unable to meet its obligations?
• Is my occupational pension safe?
• What happens if an elderly relative has to go into residential care?
• What happens if I divorce?
• Do I have enough insurance?

We offer a valuable service to our clients and ensure that we manage their financial affairs regularly, with objective reviews and presentation of conclusions and recommendations to update needs and aspirations accordingly.

We discuss all areas with you in plain simple language; we dedicate time to you, to ensure you understand the complexities of your Personal Financial Plan. We are here to listen, to plan and to protect.

It is our goal to enhance relations with our existing customers, and to attract new customers with a long term view towards:

• enhanced customer satisfaction and retention, ensuring that our good reputation in the marketplace continues to grow
• increased value to our existing customers
• increased overall efficiency

A trust is an obligation binding in a person (which can be an individual or a company) called a 'trustee' to deal with 'property' in a particular way, for the benefit of one or more 'beneficiaries'.

What is a 'trustee'?

Trustees are the legal owners of the trust property. They are legally bound to look after the property of the trust in a particular way and for a particular purpose. Trustees administer the trust and in certain circumstances make decisions about how the property in trust is to be used.

What is property?

The property of a trust can include

• Money
• Investments
• Land or buildings
• Other assets, such as paintings

It should be noted that the information contained in this section relates to English Lasting Power of Attorney and there are differences between the English and Scottish system.

Managing your affairs and lasting power of attorney

There may come a time when, because you are incapable of managing your property and financial affairs or personal welfare, you will need someone to do this for you.

You can formally appoint a friend, relative or professional to hold a lasting power of attorney that will allow them to act on your behalf. Lasting power of attorney (LPA) in England and Wales has no legal standing until it is registered with the Office of the Public Guardian. A lasting power of attorney is a legal document that lets you appoint someone you trust as an 'attorney' to make decisions on your behalf.

It can be drawn up at any time while you have capacity, but has no legal standing until it is registered with the Office of the Public Guardian.

A registered LPA can be used at any time, whether you have the mental ability to act for yourself or not.