What is Wealth Management?
Wealth Management is the new holistic way of managing your money. It is a concept pioneered by Standard Chartered Bank in India and offers a complete way of managing your financial requirements – from transaction management to wealth accumulation to protection. It brings together the benefits of banking accounts, investment services and insurance by offering all three under one roof. Excel Banking adds further value by customizing the overall set of services to suit your personal requirements.
Wealth management is a comprehensive program that provides clients with a complete evaluation of their financial resources, personal risk tolerance, and capital need requirements. We work to identify, quantify, and prioritize the client’s personal and financial goals. An investment policy, including an asset allocation model, is implemented and managed by the firm, designed to work towards the client’s stated goals.
Wealth management is a financial service concept that emerged as a specific offering during the decade of the 1990’s. Generally, firms that offer a wealth management package provide a wide range of financial services to their clients that will include such basic elements as estate planning, asset management, and even private banking options. The use of a wealth management service can be helpful when an individual has amassed a large amount of assets and needs assistance in managing all of them effectively. In the best examples of wealth management, the client will be able to take advantage of a wide range of services that can include the management of everything from the mundane daily task of balancing the checkbook to long range planning for a trust or estate. One of the more popular aspects of a wealth management package is managing investments and managing the tax planning that is associated with the task. The financial service can also be helpful for people who are just beginning t
