Wealth management is the process of preserving, growing, and distributing an individual’s or family’s assets. It involves a comprehensive approach to financial planning, considering various aspects like investment strategies, risk management, tax planning, and estate planning. Key Characteristics / Core Concepts Financial Planning: Setting financial goals and developing strategies to achieve them. Investment Management: Selecting … Read more
Investment management is the professional management of various assets to meet specified financial objectives. It involves the careful selection and oversight of investments to maximize returns while mitigating risks. Key Characteristics / Core Concepts Risk Management: A core component, aiming to minimize potential losses. Portfolio Diversification: Spreading investments across different asset classes (stocks, bonds, real … Read more
Financial planning is the process of setting financial goals and creating a plan to achieve them. It involves analyzing your current financial situation, identifying your goals (like retirement, buying a house, or paying off debt), and developing a strategy to reach those goals. Key Characteristics / Core Concepts Goal Setting: Defining specific, measurable, achievable, relevant, … Read more
Budgeting is the process of creating a plan to manage your income and expenses. It involves tracking where your money is coming from and going to, allowing you to make informed financial decisions. Key Characteristics / Core Concepts Income Tracking: Recording all sources of income, such as salary, investments, or side hustles. Expense Tracking: Monitoring … Read more