Wealth management

Wealth_Management_Consultation

Wealth management is a professional service that combines various 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.

Services Provided[edit | edit source]

Wealth management encompasses a wide range of services, including:

Investment Management[edit | edit source]

Investment management involves the professional management of various securities (such as shares, bonds, and other assets) to meet specified investment goals for the benefit of investors. Wealth managers often coordinate with other financial experts to provide comprehensive services.

Financial Planning[edit | edit source]

Financial planning is the process of creating a strategy to manage finances to achieve personal economic satisfaction. This includes budgeting, saving, investing, and planning for retirement.

Estate Planning[edit | edit source]

Estate planning involves the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death. This includes the bequest of assets to heirs and the settlement of estate taxes.

Tax Planning[edit | edit source]

Tax planning is the analysis of a financial situation or plan to ensure that all elements work together to allow you to pay the lowest taxes possible. Wealth managers often work with tax professionals to optimize tax efficiency.

Retirement Planning[edit | edit source]

Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. This includes identifying sources of income, estimating expenses, implementing a savings program, and managing assets.

Insurance Planning[edit | edit source]

Insurance planning involves evaluating risks and determining the proper insurance coverage to mitigate those risks. This can include life insurance, health insurance, and property insurance.

Philanthropic Planning[edit | edit source]

Philanthropic planning is the process of managing and structuring charitable giving in a way that maximizes the benefit to both the donor and the recipient. This can involve setting up charitable trusts or foundations.