A Scan Through the Services That Financial Institutes Provide

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A Scan Through the Services That Financial
Institutes Provide
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Walking the Tough Rope of Finances
Wise decision making in managing finances of a
firm or an individual is one of the major
functions that an investment banker must make. An
inveterate banker knows that even the slightest
aberration in the norms of investment can lead to
huge losses. Therefore, they check the before
taking any decision for their client or pushing
them towards any financial goals, it is mandatory
that they study the entire profile of their
client before taking drastic steps. Two functions
provided by investment baking are wealth
management and asset management. Lets look at
the difference between the two.
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The Asset Management Firms
Just as the name suggests, asset management is
the function of managing your assets. Assets are
nothing but all the financial holdings that a
person has. It is related more to managing your
assets wisely. Assets generally include stocks,
bonds, mutual funds, etc. that help you expand
your wealth and be prepared for the unforeseen
future circumstances. The asset management firms
perform various functions here.
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A Handholding Through the Journey
A typical asset manager helps us with determining
which is the best suited investment for our
profile and how to allocate resources
judiciously. It helps to determine how much
percentage of your portfolio should be product of
growth, for example, stocks, and what should be
product of fixed income, like bonds. But how do
asset managers gain in this? They get a
percentage of the value earned on the investment
of the assets.
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Managing the Wealth
Wealth management are all the activities that are
related to expanding your wealth, and not just
money. Wealth management firms are involved in
much broader things. In simple terms, wealth
management is about analyzing the financial
profile of an individual and then, taking steps
in order to maximize they wealth and help them
protect it too. There are various other services
that they perform too.
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Various Wealth Management Services
Wealth management involves services like Tax
Planning, Education planning, Legacy Planning,
Retirement Planning, Insurance and so on. Asset
management, as we discussed earlier, is more
money focused, that wealth management, that
depends primarily on enlarging the wealth of the
customer. What works best for them can be decided
by the customer themselves. It so happens, that
sometimes, asset managers also perform the role
of wealth managers and vice versa.
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Thank You
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