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Wealth management is one of the most imperative factors in financial planning. It includes comprehensive investment strategies with expert advice on opportunities in equities, mutual funds, real estate, PMS services, structured products and more. This has to be supported with legal advice on behalf of the client considering the clientele’s overall portfolio, risk assessment and future inevitabilities.


Wealth management aims to service affluent individuals and address to their issues related to income tax, legal and returns expected from the investment. To address to the ultra-wealthy is the biggest challenge for a wealth manager as the wealth manager has to walk with every situation of his customer and provide a rational resolution. For example, a wealthy individual has lost his father’s instate, then the division of the wealth has to equal as per the law without hurting any sentiments of the other family members. Even if the deceased father has a WILL, the probate of the WILL has to be as per legal provisions available under the Succession act 1956 which needs a neutral intervention of the wealth manager of the deceased.


What does the Wealth manager do and what is his role?

The role of a wealth manager is not only to invest for his clientele but also to assess his future requirements and understand his vision. The wealth managers assess their client by educating them about the equity markets, economy and possible fractions within the finance ecosystem to keep his clientele prepared for any valuable opportunities. Proper portfolio churning, profit booking, and stop loss triggers have to be defined by the wealth manager before advising the client on any investment.  Understating the client and his risk horizon is also one of the most imperative factors for the wealth manager.

In other words the wealth manager-

Interviews the affluent to determine their current investments, insurance coverage, tax status, risk tolerance, or other information needed to develop a financial plan. He also considers clients’ questions about the purposes and details of financial plans and strategies.

Recommend to his client approaches in investments, insurance coverage, real estate, or other areas to help them achieve their financial goals.

Implement appropriate financial planning recommendations

Review the investments and suggest appropriate changes and moves considering the ecosystem and the changes which invite changes.

Sharing of information with the client like investment performance reports, income projections and financial document summaries.

The Wealth manager needs to determine the available investment opportunities and to corroborate it with the client’s compatibility.

Guide clients in the gathering of information, such as bank account records, income tax returns, life, and disability insurance records, pension plans, or wills.

Recommend financial products, such as stocks, bonds, mutual funds, or insurance.

Meet with clients’ other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients’ financial goals and circumstances.

Identify debts and arrange for squaring off the same earliest as per projections.


What is the difference between a Financial Advisor and Wealth Manager?

A financial advisor is a person who has no regulation requirement nor is any certification mandatory.  He is placed in any wealth management organization, Distributor office or Banks and advises investors on latest investment options which are readily available with the distributor. Whereas a wealth manager will understand your requirements, define investment objective, explore if the investments is required for your portfolio and then advise on entering the investment instrument. A wealth manger caters to affluent individuals whereas a financial advisor caters the mass. Wealth manager offers more services other than financial instruments like real estate, family legacy planning, charitable donation, offshore investment products, PMS and so on.

So any individual shall keep in mind the term “wealth manager” is also a generic term used for both the above categories and does not specify any one. Always make sure that your portfolio is handled by “wealth manager” and not a financial advisor.


Ultra HNI and affluent services-

Wealth managers keep themselves engrossed in managing financial investments and catering to different requirements of their affluent customers. There is no clear definition for a wealth manager practically as, the wealth manager has to cater for every requirement of his affluent customer to protect the customer’s interest and maintain secrecy during investments. Times have proved that wealth managers are the most dependable resources for affluent class customers as they are aware about the inflows and outflows of an individual and thus the customers too dependent upon their services during challenging times. Insurances of affluent are also managed by the wealth managers as they fall under the category of investments.