New to Wealth management?
There's a difference between being rich and being wealthy!
Riches are a potentially temporary phenomenon. Wealth has a deeper permanence to it. If you spent all your life accumulating capital through hard professional work, but did nothing to manage that capital, you’d have lived a life of riches; but come children’s education and marriage, nest eggs, big-ticket acquisitions and, of course, retirement, and you’re another potential statistic in the boom-to-bust story, once the income dries up.
Wealth management explores several avenues to enhance your capital… Equity, mutual funds, deposits, bonds, commodities, real estate and even insurance. It also offers advisory on financial legal implications and tax management. Wealth Managers save you the headache of figuring out where, when and how to invest, and just return the rewards.
Wealth Managers come armed with huge amounts of critical data, mined and analysed from tonnes of daily information. So the decisions they make on your behalf – or the advice they offer – are extremely well backed with knowledge.
Once again, being customized to individual needs, the decisions would also be mapped to the specific risk profile. This profiling is a meticulous assessment of your investment needs and current financial goals, and typically considers cash flow and liquidity needs; tolerance towards market risk and volatility; time constraints; investment objectives and desired level of return; special financial needs, existing regulatory constraints and tax implications.
In addition to client-specific considerations, other impacting factors such as economic, social and political stability, industry and sector views, are also taken into account.
Wealth Management is completely client-centric. You may choose to commit all or part of your investible capital. Again, you may request that only specific investment avenues be explored. Or you may decide to use purely the advisory services, while executing transactions on your own.
However, the best way to go about it is the turnkey way. Because all the safety nets and shock absorbers to ride through any market upheaval are woven in. Almost like insurance that protects your capital, even in the worst of times.