20 years: Wealth management & banking
In this video, Elisabeth gives us an overview of wealth management along with its three main service elements, "Asset management", "Portfolio management and investment advisory" and "Trusts, funds and other financial vehicles". Elisabeth talks about the current market dynamics of global wealth management and concludes by explaining the initial steps to understand the 3 phases of wealth management.
In this video, Elisabeth gives us an overview of wealth management along with its three main service elements, "Asset management", "Portfolio management and investment advisory" and "Trusts, funds and other financial vehicles". Elisabeth talks about the current market dynamics of global wealth management and concludes by explaining the initial steps to understand the 3 phases of wealth management.
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12 mins 55 secs
Wealth management is about marrying up your current financial situation with your future goals. It has been built around managing the assets of High and Ultra-High Net Worth Individuals (HNWIs), Pension Funds, Insurance Companies and Sovereign Wealth Funds.
Key learning objectives:
Define Wealth management
Outline the three main service elements of Wealth management
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Wealth management is the art of optimising the assets owned by private individuals. It is a holistic approach that takes current financial situations, family dynamics, individual financial goals, and risk tolerance into account in order to formulate the best possible short, medium, and long term strategy for managing private individuals' wealth. True wealth management takes into account all financial aspects relating to a client, including taxation, insurance, charitable goals, and legacy planning.
Wealth Management is most commonly divided into two areas:
Typically both Private Banks and Family Offices charge up to 2% of the wealth they manage as fees.
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