Wealth Management Services (WMS) in India
What is a Wealth Management Service?
Wealth management services are comprehensive and personalized financial advisory services that cater to high-net-worth individuals (HNWIs) or affluent clients. Wealth managers assist clients in managing their financial affairs and achieving their long-term financial goals. Most people save a large amount of money so they can provide financial security for their loved ones.
A person can get a layout of how to invest his/her money from a certified wealth management service. With the help of wealth management, an individual can create a financial plan that utilizes their assets in a way that meets almost all their financial goals.
Why Wealth Management?
Certified wealth management services provide a holistic approach to managing an individual’s financial affairs. It considers various aspects such as investments, financial planning, tax strategies, risk management, estate planning, and more. This comprehensive approach ensures that all aspects of an individual’s wealth are effectively addressed and coordinated.
- Plan for sustainable wealth
- Relieves your financial distress
- Wealth management services customized to your needs
- Increasing your family's need for financial security
- A professional approach to financial highs and lows
why choose fincart for wealth management in india?
What makes us different from the crowd is the value that we give to you- ACE
- Availability- It is more convenient for people to deal with money matters when they are free.
- Capability- People put a lot of trust in qualified professionals to manage their hard-earned money in an efficient and effective manner.
- EXPERIENCE- Our experience spans more than 10 years. FINCART’s dream is to make a meaningful impact on the lives of Indians around the world through profitable and sound investments.
How to do wealth management? Step-by-step guide by Fincart
- Need Analysis: Under this step, we assess your goal requirements. Following this, we check your previous investments and their performances, and finally, we understand your cash flows.
- Assessing Risk Appetite: Once we are done with your personal assessment, we further move to understand your risk appetite. Is your risk-taking style risk-taking or risk-averse?
- Creation of a Financial Plan: On the basis of the entire analysis, we curate a financial plan customized to your requirements. We get into discussions with you if any modifications are needed.
- Execution of the financial plan: Once the final draft of a financial plan is confirmed by you, we further proceed towards the execution of the financial plan.
- Monitoring & assessment: We have quarterly review sessions with you to check if any changes are needed or not. Also to check which fund is underperforming or overperforming.
Benefits of Wealth Management
Wealth management offers several benefits to individuals seeking professional guidance in managing their financial affairs. Wealth management offers the following advantages:
- Comprehensive Financial Strategy: Wealth management takes a holistic approach to financial planning, addressing various aspects such as investment management, tax planning, retirement planning, estate planning, risk management, and more. This comprehensive strategy ensures that all aspects of an individual’s financial life are considered and coordinated, leading to a more cohesive and effective financial plan.
- Personalized Guidance: Wealth managers provide personalized guidance tailored to each client’s specific needs, goals, and circumstances. They take the time to understand the client’s financial objectives, risk tolerance, time horizon, and other relevant factors. This personalized approach allows for the development of customized strategies that align with the client’s unique situation, increasing the likelihood of achieving financial goals.
- Expertise and Knowledge: Wealth managers are highly skilled professionals with deep expertise in the field of finance. They possess extensive knowledge of investment markets, tax laws, financial products, and wealth management strategies. By leveraging their expertise, wealth managers can provide informed advice, help clients navigate complex financial decisions, and stay updated with changing market conditions.
- Investment Opportunities and Portfolio Management: Wealth managers assess and manage risks associated with the client’s financial situation. They help identify potential risks and develop strategies to mitigate them, such as diversification, asset allocation, and insurance planning. By implementing risk management techniques, wealth managers aim to protect and preserve their clients’ wealth over the long term.
- Risk Management and Wealth Protection: Wealth managers assess and manage risks associated with the client’s financial situation. They help identify potential risks and develop strategies to mitigate them, such as diversification, asset allocation, and insurance planning. By implementing risk management techniques, wealth managers aim to protect and preserve their clients’ wealth over the long term.
- Legacy and Estate Planning: Wealth managers assist clients in structuring their estates and developing comprehensive estate plans. They help clients navigate complex estate laws, minimize estate taxes, and ensure an orderly transfer of wealth to intended beneficiaries. Wealth managers also provide guidance on philanthropic endeavors and charitable giving, enabling clients to leave a lasting legacy.
faq's
There are many reasons why you should go for wealth management services:
- Helps in eliminating the financial burden
- Personalized customized professional services
- Flexible investment approach
- Expert Guidance from highly-skilled wealth managers
n simple terms, a wealth manager is your financial friend that helps you & offers wealth management services to high-net-worth clients. They provide valuable advice and some additional services throughout your financial journey. From financial highs to financial lows, they stand by you to make the best financial decision.
Some of the services provided by wealth managers are:
- Retirement planning
- Child higher education planning
- Investment advisory services
- Goal-based financial planning
- Estate planning
- Tax saving/Planning
Some of the services included in wealth management services are:
- Retirement planning
- Child higher education planning
- Investment advisory services
- Goal-based financial planning
- Estate planning
- Tax saving/Planning