"Accumulate, grow, protect and spend"
At the very onset I welcome you all to the wealth management blog. This being the inaugural post, I would like to introduce this much talked about topic at a high level.
"Accumulate, grow, protect and spend" these 4 words sum up the wealth management processes in a nutshell. WM progresses along the life cycle of an individual to cater and adapt to his/her requirements at each junction. The importance of WM has only increased with the standards of living improving worldwide. People are now looking at WM to help them plan early retirementsJ, sustain their lifestyles, account for all important milestones of life and facilitate inter-generational wealth transfer. Also with global economies opening up, WM is used by many as a tool to invest and hold cross border investments which are typically difficult to manage on a "do it yourself" sort of mode, as it requires expertise in regulations and taxation policies worldwide. Hence investors are largely now moving to "Do it for me" mode. This basically means that investors are looking for "Global Life cum wealth advisor" and not just a regular "Financial advisor".
Over the past few years WM has evolved from being something which was catering only to the needs of the "RICH" to an offering which is now offered to all socio-economic classes starting from the Affluent to the ultra high network individuals (UHNI's). The recent market downturn has shifted the focus back on WM with a special spotlight on "Wealth Protection". My interactions with individuals/advisors post the recession has led me to believe that individuals are still very cautious of putting their money in complex products which they don't understand ( Hedge Funds, are the best example here) and are increasingly looking for products which are simpler to understand, trusted and offer capital protection. And the price skyrocketing prices of bullion (gold being the perfect example) seems to validate my theory here!
Change is the only constant and WM practices are a live example!!
Stay tuned for much more exciting stuff here!!!
