Understanding Wealth Management

Wealth management is a combination of financial planning, investment management, estate and tax planning and risk management of an individual’s money. The wealth is usually handled by a wealth management who has the certification to handle and operate with funds.

Financial planning includes goal setting, retirement planning college funding business planning or whatever the client’s needs may be. The manager also takes care of his/her client’s investments by way of asset allocation, preparing individual stock and bond portfolios, monitoring and rebalancing the portfolios and tax management. The tasks of optimizing family  and charity gifts, HRA and retirement plant distribution and retirement plan design fall under the category of risk management cannot be negated from wealth management, one must analyze insurance; stock options exercise strategy, manage concentrated positions and protect assets.

In short wealth management is a comprehensive devise to optimize and effectively put to use an individual’s wealth to help maintain and meet his/her goals.

The formula for wealth management is given below:

WM = IC + AP

WM refers to Wealth Management

IC refers to Investment Consulting

AP refers to Advance Planning

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Introduction to Wealth Management
Wealth Management Process

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