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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Expert led content

+1,000 expert presented, on-demand video modules

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Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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What is Wealth Management?

What is Wealth Management?

Elisabeth Dana

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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What is Wealth Management?

12 mins 55 secs

Key learning objectives:

  • Define Wealth management

  • Outline the three main service elements of Wealth management

Overview:

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.

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Summary

What is Wealth management?

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.

What are the three main service elements of Wealth management?

  • Asset management - for example, stocks, bonds, real estate, master limited partnerships, and private equity.
  • Portfolio management and investment advisory - this involves overseeing investments and ensuring that they match up to a client’s risk level.
  • Trusts, funds and other financial vehicles - wealth managers can establish trusts which will provide legal protection for the trustee’s assets and ensure the assets grow before being distributed according to the directions of the trustee.

What are the two areas of wealth management?

Wealth Management is most commonly divided into two areas:

  • Private banks - Private Banks typically serve a much greater number of private clients than Family Offices and are more focused on investment transactions rather than a holistic advisory approach. 
  • Family offices - Family offices are full-service private wealth management offerings that serve just one or a small number of ultra-high-net-worth families. They also provide planning, charitable giving advice, concierge, and other comprehensive services.

Typically both Private Banks and Family Offices charge up to 2% of the wealth they manage as fees.

What are the types of advisory a wealth management can be divided into?

  • Human advisory - accounted for 98.6% of wealth management advisory in 2019. 
  • Robo advisory - expected to be the fastest growing segment in the market, at a Compounded Annual Growth Rate of 26.1% during 2019-2023. 
  • Hybrid advisory - offers both standardised computer-driven analysis and personalised advice and bespoke solutions to clients.

What are the steps to understand the three phases of wealth management?

  • Wealth creation – the stage at which your work generates income and capital. 
  • Wealth preservation – the stage where you have some money and deploy techniques to preserve it, starting with ensuring your “pot of money” is not eroded by inflation. 
  • Wealth growth – the stage at which you allocate a portion of your wealth to creating more wealth, which happens when you take a certain amount of risk.

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Elisabeth Dana

Elisabeth Dana

After working in banking in Paris for several years, Elisabeth joined Barclays Corporate in London in early 2008 before joining Barclays Wealth to look after High Net Worth clients and their families. She has focused on wealth management ever since, founding Infinity Circle in 2018. Elisabeth is a dual British and French national who speaks four languages. Finally, Elisabeth has a Masters in Political Science and Journalism from the University of Brussels and an MBA from the University of Chicago

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