Cost and tax efficiency.

Building portfolios that are efficient after costs and after tax, not only before them.

What it is

What you keep, not what you make.

Returns are usually quoted before costs and before tax — but it is the figure after both that you actually keep. Fees, trading and an inefficient tax treatment can quietly consume a meaningful part of a return, and the gap compounds over the years into something substantial.

We advise on building portfolios that are efficient after costs and after tax, not only before them — coordinated with your wider tax position so the two work together.

How we advise

After-cost returns

Keeping the drag of fees and trading to what is necessary.

After-tax returns

Structuring holdings for an efficient tax treatment.

Coordinated with tax advice

Aligning the portfolio with your wider tax position.

Compounding the difference

Protecting the gap that compounds over time.

Important information

The basis on which we advise.

This page is general in nature and does not constitute financial, investment, tax or legal advice. Advice is given only under a formal engagement, on the basis of your specific circumstances.

ORA Black advises on and coordinates the planning, investment and protection of private wealth. It is not itself a licensed investment manager, financial adviser or insurer, and it does not hold client assets. Regulated investment management, financial advice and insurance services are provided by, or under the authorisation of, the relevant NEBA Private Clients entity through ORA Black’s partnership with NEBA. The value of investments can fall as well as rise, and past performance is not a guide to future returns.

A disciplined approach to private wealth.

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