What issues does Wealth Management solve?

Managing money requires effort, time, and expertise. You need banks for Loans and Deposit Accounts, Insurance agents to guide you in buying the right...
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What issues does Wealth Management solve?

Managing money requires effort, time, and expertise. You need banks for Loans and Deposit Accounts, Insurance agents to guide you in buying the right coverage, investment advisors for investing, and chartered accountants to file your Income Tax Returns. This process becomes even more complicated if you try doing it all by yourself.

The wealthy segment of the population has several one-stop solutions to get all the above. A Wealth Account is one of them. Ultra-rich investors have an investable surplus, which sums up to crores of rupees. It is where they require wealth managers to plan and optimise all money matters. Here is a list of issues they solve:

  1. Budgeting and expense management

Millionaires have a lifestyle which is drastically different from that of regular people. Even the wealthy and super-wealthy need to budget and manage their expenses, like most ordinary investors. They can approach a firm offering Wealth Management services to guide them in spending funds.

  1. Insurance planning

The wealthy and super-wealthy need more than regular Life and Health Insurance like most of us. You can protect yourself against the unexpected with a wide range of Insurance solutions covering health, business, travel, and life. You choose from a range of plans, such as Term Insurance, traditional policies, unit-linked products, or Business Insurance products like Keyman Insurance.

  1. Mutual Fund Investments

You get professional support from investment counsellors and access to approximately 260 approved Mutual Fund schemes managed by 21 leading Asset Management Companies. You can invest in the funds you like and get a consolidated dashboard view with real-time and detailed information.

  1. Wealth solutions

Banks offer sophisticated wealth solutions, including Structured Products, Portfolio Management Services, Alternative Investment Funds, Private Equity, and Real Estate Funds. The solutions you sign up for when you open a Wealth Account are tailored to your short-term needs and long-term goals, keeping your risk appetite in mind.

  1. Remittance solutions

You get preferential Remittance rates and solutions, enabling you to transfer your money abroad seamlessly. You can enjoy paperless fund transfers overseas at zero fees or contact experienced Forex specialists to resolve your queries regarding Wealth Management Investment.

  1. Mortgage solutions

When you open a Wealth Account online, you can access a large bouquet of Loans, including Home, Loan Against Property, and Top-up Loans. The experienced mortgage specialists will guide you through each step and ensure you meet your needs. You also get attractive interest rates on Loans with a tenure going up to 25 years.

Conclusion

Wealth Management firms may offer wealthy business owners corporate financing and treasury management services to help them optimise their business. Unlike regular investors, since your business is closely tied to personal assets, you can save on taxes and get concessions. Choose your wealth manager wisely for a personalised experience.