Wealth Management

Wealth Management is a discipline that incorporates financial planning, Investment portfolio management, and a number of financial services. It is a professional service it can also encompass all parts of a person’s financial life. Wealth management is done by wealth managers. Wealth managers can be MBAs, CFAs, certified financial planners, or any credentialed professional money manager who works to enhance growth and income. Investors must have already accumulated a proper amount of wealth for wealth management strategies to be efficient and effective. It can be provided by large company entities, independent financial advisers, or multi-licensed portfolio managers. Their services are designed to focus on high-net-worth customers. Wealth Managers use their experience in estate planning, risk management, and legal specialists, to manage the holdings of the high-net-worth client. Wealth managers must contain a current profile of client holdings. Wealth management is an integrated process for helping clients manage their wealth. It involves huge a wide range of services and the services depend upon each investor but the condition is that services should include investment management, financial planning, retirement, Estate planning, tax planning, debt management, and cash flow. It is based on the long-term relationship with the customer.

It results in deeper customer relationship which leads to increased profitability and more client referrals. Wealth management offers wealth managers the opportunity to cross-sell a huge range of services and products to each customer as appropriate. Wealth management is an emerging sector.