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Strategic management of income, assets, and goals to build a stress-free and prosperous financial future.
Financial Planning & Wealth
Financial planning is a comprehensive exercise that involves managing your daily expenses and savings and living a financially stress-free life. Whether your savings are for a home, your child's schooling, or retirement, financial planning gives structure and direction. This involves adopting multiple financial processes to achieve one's financial goals. Financial planning is a set of quantitative measures that one must follow to achieve desired financial goals.
The strategies that high net worth individuals adopt to protect and further accumulate their wealth are called wealth management. As part of wealth management, these individuals actively seek to identify profitable activities and take advantage of them. Both financial planning and wealth management strategies are suited to different individuals. Wealth management is best suited to the needs of high net worth individuals who have a sufficient amount of wealth. Financial planning and wealth management differ based on the scope of their activities
As part of wealth management, these individuals actively seek to identify profitable activities and take advantage of them. Both financial planning and wealth management strategies are suited to different individuals. Wealth management is best suited to the needs of high net worth individuals who have a sufficient amount of wealth. Financial planning and wealth management differ based on the scope of their activities.
Financial planning is the process of managing an individual's income and expenses and using them optimally to achieve financial goals. The scope of financial planning does not take into account the amount of wealth you have or the amount of assets one owns. A financial planner designs the steps that an individual should follow. The individual does not have much choice. However, wealth management typically involves actively engaging the client with the wealth manager so that the investment decision is better optimized for further wealth creation and preservation.
The strategies adopted in both financial planning and wealth management It can be concluded that the financial planning process lasts throughout an individual's life, Whereas, the need for wealth management comes later in an individual's life, when they have accumulated a significant amount of wealth.