How to make the most of your wealth and how do you increase it?
Modernization has seen several individuals being more educated and holding a reliable source of income as compared to the past. The recent outbreak of diseases has put a wrench in the daily functioning lives of the general public. People have realized that modern times beget modern problems, and solutions as well. But these solutions come at a cost. And that cost is heavy. Living a normal life during our times has become expensive, and people have started to realise the importance of money and wealth. Modernization has given individuals access to several ways to increase wealth. As the days progress, people have started being more informed about the nitty-gritties of the financial world in search of ways to make the most out of their income and generate wealth. Owing to this exponential spike, investment banking companies in India and in general have had their hands full with clients who are willing and capable enough to risk investing a part of their income in order to get returns. It is not just the investment banking firms in India that are getting more business, it is also every other financial institution such as a bank, mutual fund, insurance corporation, etc., as people from all walks of life have started saving whatever little or huge amount of money, they can manage to generate some wealth. So, who do you go to if you want to make the most out of your wealth – asset management firms, commercial banks or investment banks?
To answer this question, let us first understand what each of these institutions do and how they can help you. Commercial banks – Unlike asset management firms, banks and banking has become the most fundamental part in a common man’s life. It is the best place to save your money, to learn about value added financial services, and safeguard your wealth. To conduct any financial function, you require a bank account. Although commercial banks do provide interest and lead to wealth creation, the returns you get in the form of interest are very low and thus it takes a lot of time to generate wealth. There are financially conservative people who choose not to take the risk associated with trading or other high-return sources, and commercial banks are the best place for such people. Investment banks – Investment banking firms in India on the other hand are completely different from commercial banks. To get involved with their services, an individual needs to have a huge investment amount and is therefore requested by high net-worth individuals since they can afford the risk of making a loss. Investment
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