Tim Latham, Chartered Financial Planner at Equilibrium

Beauty queen Kirsty Bertarelli has become Britain’s richest divorcee following a 400 million divorce from Swiss business tycoon, Ernesto Bertarelli. This divorce means Ms. Bertarelli is now richer than Mick Jagger, Ed Sheeran and Adele.

Wealth management firm, Equilibrium, is highlighting the importance of considered financial planning when people experience sudden wealth.

Tim Latham, Chartered Financial Planner at Equilibrium, said: “Coming into a large amount of wealth all of a sudden can be daunting so it is crucial to carefully consider finances when this happens. In the case of a divorce, this is particularly important to avoid rash decisions being made while in a potentially emotional or vulnerable state.”

“Sudden wealth can be a double-edged sword, and some people experience worry, guilt or uncertainty. To avoid this, it is critical to set new financial goals given their change in circumstances. Carefully considered financial planning will enable divorcees to live well themselves, ensure their loved ones are taken care of and help others, depending on the individual’s goals for their wealth.”

It could be crucial to invest in an appropriate wealth management firm to grow your wealth instead of exhausting it. Getting a financial advisor to guide you through investment opportunities, assets, and financial management could flip your life for the better.

“In addition, those who come into sudden wealth can benefit from time and space to consider next steps, seeking advice from professionals will ensure confidentiality and discretion around the circumstances. By ensuring they are educated and informed, those who come into sudden wealth will have a more meaningful oversight of how their wealth is being managed.”

“At age 50 and already used to a lavish lifestyle following more than 20 years married to a billionaire, Ms. Bertarelli will likely need to fund the life she wants to lead and any kind of legacy she wishes to leave behind, as she and her ex-husband have three children. As the settlement consists of both financial payout and property, there will be a considerable amount of planning to do to ensure the wealth is efficiently structured to allow her to fulfil her financial goals.”