Make the Future YOU want... a Legacy
Introducing Tom - Managed Portfolio Service Client and Retiree
Dr Tom Waetford, now a retired radiologist in his 70’s, is a sharp, engaging man.
Tom is a firm believer in making money go to work for you and for the generations that follow. His ABN AMRO Craigs investment advisor recalls him sharing, “With money, comes choice. I have always wanted that freedom for my children and their children. It’s been a driving force in our investment decisions”.
The Challenge
Some fifteen years ago, Tom sadly lost his mother and gained a significant windfall. Prior to the inheritance, he and his wife had lived a successful life on professional salaries. They’d managed to save hard, give their four children a great start in life and secured their own home, mortgage-free, adding to this a passive income stream through a rental property. Even so, retirement still presented a challenge, financially.
On learning of the inheritance, Tom became self-appointed wealth-custodian. He and his wife Mary were determined to ensure their $7 million estate was put to sound use, well beyond their own lifetimes. The couple approached ABN AMRO Craigs for investment advice.
The Solution
The Waetford’s were looking for a solution that would conservatively grow their legacy. They wanted to maintain an active interest in their wealth strategy and track its performance closely, but were not interested in dealing with the associated paperwork. They wanted the benefit of ongoing prudent, considered advice. As a radiologist, Tom understood the role of research in making medical recommendations. He was looking for that same degree of rigour in any investment recommendations presented to them.
Together with their ABN AMRO Craigs investment advisor the couple devised a strategy for long-term capital growth of their portfolio. They built a strategy on diversified global equities by investing in promising businesses that were growing and had the potential to lead their sector. Whilst erring on the side of caution, the couple had an interest in emergent technologies.
With prudent investment, the Waetfords have seen their capital grow dramatically over the years. This success has been possible even after enjoying some of the dividend benefits – such as providing assistance to family members buying first homes and overseas travel.