While millions of Britons spend August on holiday, many wealthy families are using the quieter summer weeks to make some of their biggest financial decisions, according to wealth manager Paul Denley.
Denley, CEO of London-based Oakham Wealth Management, said August has become an unofficial "financial MOT" month. Instead of reacting to market headlines, affluent investors use the breathing space to review investments, pensions, tax planning, and long-term goals.
More time, not more money
Denley believes the biggest advantage isn't having more money, but having more time to think clearly. He said: "Affluent people certainly enjoy holidays, but many also use the quieter weeks of August to make some of their biggest financial decisions. While everyone else is trying to escape work, they're creating the mental space to think about succession, investing, tax planning and what they actually want from the next decade. Wealth is often built not by working every minute, but by occasionally stepping back and making better decisions."
He noted a paradox: the busiest, most successful people do their clearest thinking when they are, on paper, doing the least. "The inbox slows, the diary empties and, despite the occasional headline, the constant noise of day-to-day business begins to fade," he said.
Rebalancing and tax efficiency
One of the first things many wealthy investors review is whether their portfolio still matches the intended risk level. After a strong market run, successful investments can become a larger part of a portfolio than planned. Instead of chasing best-performing shares, experienced investors often do the opposite.
Denley explained: "For many wealthy families, August is quietly the most productive financial month of the year. It's when they carry out what I'd call a personal financial MOT. That review is less glamorous than it sounds and that is precisely the point. It starts with asset allocation – the single biggest driver of long-term investment outcomes and the thing most people never revisit. The disciplined response is not to chase whatever has done well, but to rebalance back towards the original plan."
August is also when families review tax allowances, whether cash is idle, and whether pensions and ISAs remain tax-efficient. With an Autumn Budget expected, Denley said wealthy families prepare rather than panic.
Family conversations
Denley said: "Wealthy families rarely make knee-jerk decisions based on rumours. Preparation, not prediction, is the real edge." He added that the most important conversations are rarely about money itself: "They are the ones families put off all year: who inherits what and when, how much to help children and grandchildren now rather than later and what the next decade is genuinely for."
The real lesson applies to all, regardless of portfolio size. "Whether your portfolio is worth £50,000 or £50 million, taking one uninterrupted afternoon to review where you are, and where you're trying to get to, may be one of the highest-return investments you make all year," Denley said.
