Meet The Member - Tim Lambert of Lambert Wealth
Tim Lambert of Lambert Wealth
We caught up with our member Tim Lambert to talk all things finance.
Hi Tim, it’s a pleasure to have you on board at We Are Harpenden. For people that may have not heard of you, could you tell us what you do?
Hey! I’m very happy to be a member of We Are Harpenden. I assist individuals, families, and businesses with financial planning, investments, retirement, and savings. My goal is to provide clarity and peace of mind by helping clients create and protect wealth tax efficiently. If you have money-related questions, I'm here to help.
When did your interest in finance develop and how did you get to where you are today?
My journey into the world of financial advisory was shaped by my dad’s influence. During my teenage years, I had the opportunity to work alongside him at his Practice during holidays, which ignited my curiosity about shares and markets. However, my path to qualification took an unconventional turn. While many opt for a traditional university route, I chose to learn on the job, combining work experiences overseas with working at my dad’s Practice in Lancaster.
At the age of 21, I earned my qualifications and made the move to London. There, I provided financial guidance to high-net-worth individuals in the city. Despite my youth, I embraced the challenge of leveraging my knowledge and conviction to offer sound advice. Through this journey, I grasped the significance of trust and relationships. I was determined to be an approachable resource for those who were new to seeking financial guidance.
After spending 5 years navigating the pressures of meeting targets, I found myself needing a change. With a strong network, I took the leap to establish Lambert Wealth. This decision was met with loyalty from many of my clients who chose to embark on this new chapter with me.
As we lead up to Lambert Wealth's 9th anniversary this September, I am filled with pride seeing how far we've come. Our commitment to a grounded approach and fostering enduring client relationships has remained unwavering. Relocating to Harpenden 3 years ago has allowed us to establish a genuine local presence that continues to flourish.
Wealth Management is a somewhat daunting field for people. How do you and Lambert Wealth assist your clients through the investments on offer?
I think it’s imperative to be approachable. I reassure all my clients that no question is insignificant, and I'm dedicated to providing guidance every step of the way. I break down the technical and often daunting jargon down into understandable and bitesize chunks. By providing that clarity around the terminology or “products” clients are then more comfortable when putting a financial plan in place.
Are there are any simple tenets that people should adhere to when it comes to managing their money?
The simplest and most effective approach is budgeting. Some individuals may not have a clear picture of their general outgoings per month. Once you know that, you can assess what your disposable income is and then build a plan where best that money could go. I assist my clients by collaborating with them on a cash flow forecast. I utilise software that provides a visual representation of their financial incomings and outgoings.
Do people make any common mistakes when it comes to their money and its protection?
Quite often people think that cash in the bank guarantees safety. However, inflation gradually erodes its value, especially at the moment. If this money is intended for savings for the long run, it’s much more likely that investing in diverse stocks and shares will protect the money from inflation and has the potential to outperform cash over the long run.
Do you have any specific areas of expertise?
A lot of my planning focuses not only on investment performance, but also around tax efficiency, and how the client can save tax. For example, this could be Inheritance Tax for a family, helping business owners reduce corporation tax or individuals save income tax through various investments.
What do you most enjoy about Lambert Wealth?
The personal interaction side of the job and building trust. Without trust the job is nothing and often over time clients have become good friends, so it’s an absolute pleasure catching up with them when we have reviews.
What’s on the horizon for you?
We’re actively expanding our presence with more local events and workshops so stay tuned for updates. We are also collaborating with other professionals in Harpenden and St. Albans such as accountants, solicitors, and mortgage brokers. Social media is currently a significant focus for us, and we are in the process of creating even more engaging content.
When you’re not thinking finance, how do you relax and what do you enjoy doing locally?
Charlotte, my partner, and I have two boys, Marley, and Alfie, aged almost 2 and 4. It doesn’t count as relaxing, but I love spending time with them. We enjoy getting babycinos at Brad & Dills, hang out at Harpenden’s skate park and visit the ducks at Verulam Park.
When I am not keeping up with the boys’ energy, I am loving my time at the gym at the moment and go to Marchon - the training and the coaches are great and there is a real community feel about it. I’m getting back into playing golf when I find the time too. I also love my food and drink, and Vinsanto is a favourite.