Wealth management and investment

Everyone wants to have a positive financial situation. Whether it’s finding the best interest rates for savings or arranging a mortgage with the optimum product features, nobody wants to have their economic futures marred by not having access to financial professionals who can advise and help.

One area of financial investment is wealth management. For those with perhaps a sizeable amount of money this is a popular route to take.

What is wealth management

Wealth management is the finding of positive outcome solutions to enhance a financial situation. It’s a very personal and bespoke service which is offered through a financial advisor and the client will work with their advisor or their team to create and develop a comprehensive set of financial products. Through this consultative process, the client has access to the fullest range of investment services possible.

The advisor as a consultant

Wealth management is delivered through a consultative service. This means that the managers are focused purely on the portfolio of investments of their clients. Upon first meeting a new client, a wealth manager will discuss their thoughts and needs without any presupposition regarding which products may be appropriate.

The client will arrive at their first or any subsequent meeting with an agenda of their financial situation to discuss with their wealth manager. With their knowledge and expertise in this branch of the financial industry, the consultant will look to find out more about their client, what is important to them and the reasons why. Armed with this information, the wealth manager can then introduce and explain possible appropriate services and also bring any specialist experts on board if required.

Products and services offered and the overall goal

In theory, a wealth advisor, consultant or manager can offer any financial product or service but they often specialise in a range which is comprehensive, highly customisable and meets the needs of all their clients. Options for wealth management can include building a financial portfolio which may include:

  • Investment funds; pooled funds invested across a range of sectors, countries and currencies
  • ISAs; cash or stocks and shares products which will ensure investment is arranged in the most tax-efficient way
  • Bonds; buying and selling which can take place across a range of currencies
  • Equities; these can be traded globally to create a diverse portfolio
  • Personal and retail banking
  • Estate planning
  • Legal and tax matters

The overall focus and goal of wealth management is to nurture, develop and grow wealth as well as the sustaining of the position of the client.

Why wealth management is important

For those wanting to put together a healthy portfolio of investments across a number of options, expert advice is essential. Those who are working in this branch of the financial industry will be able to find services and products they can discuss with their clients which would not normally be available to the public. Those who require wealth management assistance will usually be leaders in their own field of specialism but perhaps not the intricacies of financial management at such as senior level. This is where consultants in this field are highly sought after and their work in creating long term financial growth is hugely appreciated.

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