Wealth Management

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Wealth Management Services

What is Wealth Management?

Wealth management is an investment advisory service that combines other financial services to address the needs of affluent clients. It is a consultative process whereby the advisor gleans information about the client’s wants and tailors a bespoke strategy utilizing appropriate financial products and services. Wealth management is more than just investment advice, as it can encompass all parts of a person’s financial life. The idea is that rather than trying to integrate pieces of advice and various products from a series of professionals, high net worth individuals benefit from a holistic approach in which a single manager coordinates all the services needed to manage their money and plan for their own or their family’s current and future needs. Wealth management considers managing the investments of the clients whether it is existing or non-existing. Our initiative is to maximise the wealth of our respective clients and help them in achieving their desired goals.
  1. In creating a financial plan
  2. Eliminating your financial stress
  3. Provide personalized and professionalized financial services
  4. Helps in corpus accumulation
  5. Recommends apt asset & investment allocation
  6. Prescribe right tax planning strategies
  7. Ensures yours risk by managing it
  8. Provides investment management facilities

Process

Importance of Wealth Management

When it comes to finance, everyone has but one goal; to be financially well-off. But getting to a space of financial comfort is a long journey; it takes patience, perseverance and a lot of discipline and wise investments to get there. We may also need the help of financial advisors who can help us formulate strategies through which we can achieve our financial goals. While one can save a lot of money by relying on conventional methods, it takes skill to create wealth and make investments. This is where wealth management experts can step in. They can help you design a plan through which your savings can compound and keep working for you. Most of us spend a major chunk of our lives trying to create a corpus so that we can offer financial security to our loved ones. It becomes important to chalk up strategies so that your savings can work for you. Wealth management services do just that. Your wealth advisor helps you create a financial plan through which you can deploy your assets in such a way that most, if not all of your financial objectives are met. He helps ensure that your money keeps compounding whether it is through sound investments or effective tax planning. Unless you have a financial strategy ib place, it becomes extremely difficult to set and meet realistic goals. It is important to identify and understand your financial strengths and challenges, so that you can build on your strengths and address the obstacles. Wealth management experts can help you put a plan into motion and periodically monitor its progress. They help you device strategies that can ensure financial security of you loved ones, long after you are gone. Hence wealth management helps:

However, first of all there are some questions you should consider when establishing a wealth management plan which includes:

  1. What are my financial and non-financial goals for my heirs?
  2. Does my wealth management plan accomplish those goals?
  3. What is the best structure to provide my heirs with appropriate assets?
  4. Have I provided for unforeseen circumstances?
  5. What is the best structure to promote our family values?
  6. Are my heirs prepared to act responsibly with the assets I leave them?
  7. Will my planning bring my family members closer together or pull them apart?
  8. Have I made provisions for my community legacy?

These questions help an investor as well as a wealth manager to understand where , when and what to invest. In establishing goals and objectives for the use and transfer of wealth, you probably prioritize them in this order: self and spouse, heirs (children and grandchildren), and community needs and opportunities. It is important to develop a wealth management plan that matches your priorities. Lifestyle maintenance your most important planning objective is to maintain your current lifestyle and ensure your financial independence. One of the major obstacles to effective planning is the gap between the perception of wealth and reality of wealth. Thus, you should clearly define what is required to maintain your current lifestyle. In other words, the annual income needed for personal consumption and material assets (house, car, vacation home) to maintain your lifestyle and adequate liquidity. Wealth transfer to heirs most likely, you want your heirs to be safe and comfortable, to help them become established and successful in life, and to provide for their medical or housing needs if they meet unexpected emergencies. In addition, you want your children and grandchildren to exhibit character, mental strength, integrity, a sense of family legacy, and responsible behaviour– attributes money can’t “buy.” In short, you want your heirs to be self-supporting, but would like to provide both selected advantages and a “safety net.” Only you can decide how much is enough to leave your heirs. Many couples discover that if they do nothing, they will leave their children much more than they really believe is necessary or appropriate. Defining an appropriate specific inheritance requires careful consideration of each individual heir. What is appropriate for one is not necessarily appropriate for another. Your job is to identify specific assets or lifestyle attributes you would like your heirs to enjoy as a result of receiving an inheritance.

Our Role in Wealth Management

A wealth management advisor is a high-level professional who utilizes the spectrum of financial disciplines available, such as financial and investment advice, legal or estate planning, accounting and tax services, and retirement planning, to manage an affluent client’s wealth for one set fee. A wealth management advisor needs affluent individuals, but not all affluent individuals need a wealth management advisor. This service is usually appropriate for wealthy individuals with a broad array of diverse needs. In our wealth management services we will manage the overall wealth of the clients based on the financial plan prepared by us. Wealth management will include management of investment in different asset classes in the portfolio of the client, different asset classes includes investments in equity mutual funds, debt mutual funds, small saving schemes etc. The portfolio management services is defined as

Strategies used by us:
As wealth managers we will start by developing a plan that will maintain and increase a client’s wealth based on that individual’s financial situation, goals and comfort level with risk. After the original plan is developed, the managers will meet regularly with clients to update goals, review and rebalance the financial portfolio, and investigate whether additional services are needed, with the ultimate goal being to remain in the client’s service throughout their lifetime.