“A STUDY ON THE AWARENESS AND KNOWLEDGE ABOUT WEALTH MANAGEMENT IN THE COMMON MAN”
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Abstract
Wealth management services have historically been reserved for the ultra-wealthy who
require assistance with managing vast fortunes. Managing wealth is a skill and a science.
Knowing the client inside and out is essential. However, the Internet has made financial
management accessible to a much larger group of people, and one no longer needs a million
dollars to take advantage of these services. A wealth manager's services extend beyond just
stock and share management to include advising clients on the best collective funds to
engage in. In addition, he can advise the investor on the best asset management strategy to
pursue based on his or her unique circumstances.
One can spend solely for the purpose of growing one's nest egg or strike a balance between
long-term growth and short-term profits. A wealth manager's services may include providing
impartial financial guidance on a wide variety of personal finance goods in addition to
advising investors on the management of individual portfolios. In addition, he could aid in
tax preparation, reducing expenses and obligations like capital gains tax. With their eyes on
the breadth and direction of the markets, wealth managers can help their clients make swifter
changes to their financial portfolios, freeing up previously unrealized capital. To further
assist their clients, some wealth managers offer web resources such as research tools,
investment calculators, and access to wealth management reports. For wealthy investors,
whether they be individuals or organizations, wealth management is all about maximizing
returns while minimizing losses. A wealth manager needs extensive understanding of the
financial markets, their instruments, participants, and the overall landscape.
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