First Wealth

A financial planning firm in London, First Wealth pairs investment management with coaching on the life its clients want. People use it to set out their life goals, and the firm then builds a plan to reach them. The firm covers personal finances and the plans of business owners, from growth through to exit, and it says its founding followed the 2008 financial crisis, when it set out to change how advice is given.

Planning built around life goals

The firm starts by asking clients what they want from life and then creates a plan to get them there. Its stated mission is to improve clients' financial wellbeing and happiness so that they can live on their own terms. The firm describes its approach as measuring wealth by wellbeing, and it treats financial planning as more than making money.

Wealth management on an evidence basis

Wealth management covers managing and protecting clients' investments. The site says its investment approach is based on data and evidence, not on speculation or assumptions. For clients with high net worth, the firm runs a private office service that offers tailored advice to help preserve, grow and manage wealth.

Tax planning and tax-efficient schemes

Tax planning, as the firm describes it, looks at how personal and business affairs are arranged with tax in view. The site lists several tax-efficient arrangements, including enterprise investment schemes, seed enterprise investment schemes, venture capital trusts, self-invested personal pensions and small self-administered schemes, alongside capital gains tax planning.

Passing on wealth and protecting it

Intergenerational planning is aimed at transferring wealth to the next generation in a way the firm says can minimise inheritance tax. Personal and business protection covers families, lifestyles and businesses against unexpected events.

Retirement planning and financial coaching

Retirement planning helps clients plan how they will fund their life after work. Financial coaching covers money habits and wellbeing, not only investment returns.

Who the firm works with

Its clients include entrepreneurs who are building, growing or exiting a business, high net worth individuals, professionals and families. The firm presents its service as a way for each client to make confident decisions about their wealth and what comes next.

Recognition and certification

In November 2021, the firm says, the Personal Finance Society named it chartered financial planning firm of the year, and it says it is a Certified B Corporation. The site adds a library of articles, guides, podcasts and videos, covering topics such as philanthropy in finance and sustainable investing.