"we were getting amazing advice from COUTTS"

“Coutts was able to do so much more across our banking” 

Their first job to help manage their wealth windfall? Find a good private bank.

They took three recommendations from an accountant – one of them Coutts – and started investigating their options. Coutts got the job because of “the sheer breadth of services they provide”, says Louise.

“We went through a long process with each of the organisations,” she says. “But while there were all these people who could invest our money for us, Coutts was able to do so much more across our banking. Our accounts, trusts, property, investments – they could support so many of our needs.

“It became clear this was the private bank that was going to help us the most.”

“We wanted everyone to enjoy it”

Many would find it daunting to manage £55 million, keeping it safe while making the most of it, particularly when it comes in two parts. But having their Coutts Wealth Manager Philip James and a team of specialists at hand to guide them really helped.

“Phil and the team always really helped us do what we wanted to do in the most efficient way,” Louise says.

One of the first things Louise and Sam did was give a lot of their new money to relatives and close friends.

“We changed a lot of lives – our parents, brothers, sisters, nieces and nephews,” says Louise. “We wanted everyone to enjoy it, and sharing it with those closest to us was one of the most rewarding things we could do.”

Then they got to work sorting their wealth for themselves. With Coutts’ help, they:

• set up a trust for each of their three children, an efficient way to help them with key moments in life like buying a property
• created a family investment company for growing their wealth, largely involving Coutts Managed Funds – such companies are typically used to help spread wealth among relatives in the future
• re-wrote their wills with support from our estate planning team
• took out a loan to buy some land in Florida where they plan to build a house – low interest rates at the time meant this proved more efficient than drawing money from their investments
• “tidied up” the basics – topping up their ISAs and re-arranging Sam’s pension to ensure they were taking full advantage of tax allowances

“The team was very knowledgeable and well-informed”

Louise says, “We were getting amazing advice from Coutts. Our accountants were saying they wouldn’t do anything differently, and that helped build a fantastic amount of trust in what Coutts was recommending.”

She adds, “The team was very knowledgeable and well-informed. They never once told us any details about other clients, but they often alluded to what other clients had done in similar situations to ours, and that was really helpful.”

Philip James at Coutts says, “This is a great example of how we can support our clients across the board, bringing to bear our vast experience supporting the wealthy.

“As well as the financial guidance and support we provide, a big part of my job involves introducing clients to relevant specialists across our bank, and beyond, when they need help with something specific.

“That proved particularly useful in this case. Just recently, with the clients looking to move house, I introduced them to our residential property service, which could help them find the right place and get a good deal.”

Speak to your private banker to find out more about how Coutts could support your financial plans.