25 years: Wealth and risk management specialist
The business of wealth management is an important part of the wider financial services industry. This video will give a detailed context to the term by exploring some of the services that wealth management professionals offer their clients and also by highlighting the difference between wealth management and more traditional private banking. We will further examine some of the most common services provided by wealth managers in detail, and finally, we will discuss some of the regulatory frameworks in which wealth managers have to operate.
The business of wealth management is an important part of the wider financial services industry. This video will give a detailed context to the term by exploring some of the services that wealth management professionals offer their clients and also by highlighting the difference between wealth management and more traditional private banking. We will further examine some of the most common services provided by wealth managers in detail, and finally, we will discuss some of the regulatory frameworks in which wealth managers have to operate.
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11 mins 15 secs
The difference between wealth management and that of the more traditional Private banking. Exploring the wider market in its current state around the world and observing how its fragmented makeup has made it difficult to define and accurately calculate its true size. We also examine some of the most common services provided by Wealth Managers.
Key learning objectives:
What is the Wealth Management Industry ?
Who are the clients they serve?
Who are the main global and local players in the Industry?
What are the primary global Wealth Management Centres?
What are the key roles within the Wealth Management Industry?
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The wealth management industry makes use of conventional investment assets and instruments such as: equities, bonds, foreign exchange, funds, derivatives, alternative investments such as private equity, precious metals, real estate and also, credit and lending products.
These assets are held in particular investment vehicles that provide an efficient mechanism for the management of client investments by allowing consideration of the clients’ personal circumstances, including their taxation position, and their overall investment goals in consideration of their risk tolerance.
There are no industry-wide financial segmentation criteria for clients; nevertheless, some market participants describe high net worth clients as having a minimum of $2 million in investable money, while others define it as much greater. Similarly, the threshold for Ultra High Net Individuals is frequently set at $20 million, although it can be as high as $100 million.
As well as the needs of HNWIs and UHNWIs, the Wealth Management industry also covers affluent clients, those with wealth typically below 2 million dollars, and core affluent, those with assets typically below 1 million dollars.
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