Wealth Management Strategic Tips from Sachin Karpe
Through the continued series, Sachin Karpe will explain you the nuances of wealth management for people who have been unable to understand it completely. Wealth management is a financial and investment advisory field where clients are given advice on various financial disciplines like financial planning, portfolio management, asset and wealth management. A combination of various investments ranging from, taxes and estate plans into a combined plan to achieve individual goals through systematic management of the funds and proper asset allocation; it is a vertical of investment planning that integrates a systematic management of funds and proper allocation of assts after a detailed study on performance of the fund. Author has been a veteran in investment banking and wealth management. Wealth management is generally considered superior to private banking and done for people who fall under high income category. Once this wealth is gathered, it becomes important to channelize it such as it offers maximum protection. You must allow your money also to work for you.
But, you must direct your wealth in appropriate directions. Unethical money professionals can do an irreparable harm to your wealth. Therefore, a wealth management firm will adopt all ethical norms to invest your wealth in right instruments. They will analyze your wealth and recommend asset allocation to various verticals. Once a detailed plan is chalked out, an investment policy statement is made which needs to be agreed upon by you. This makes wealth management a relatively risk free way to invest money, asserts Sachin Karpe.
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