Wealth management is an approach to wealth creation and sustaining wealth. Wealth management professionals evaluate customers financially and recommend avenues for wealth creation and sustainability. The emphasis is on financial sustainability alongside capital appreciation. It also includes adequate risk management and managing retirement. Wealth management professionals provide advice to clients for tailored wealth management solutions. They engage in discussions with clients and recommend a variety of financial products to manage wealth and effectively achieve financial goals and freedom.
The wealth management process is end-to-end management of the financial situation of a client and continues to evolve along with the changing the financial situation of the client. Below is a basic wealth management process.
