What is Wealth Management?

• Wealth Management is a service that gives clients financial and investment advice, accounting and tax services, retirement planning, legal and real estate planning.
• FSC is built on Client centric model which helps to have a detailed view of the client with their associated relationships, Financial Account, Financial Holdings, Financial Goals, Assets and Liabilities etc…

Wealth Management Personas

• Client
• Advisor

 Client

• Client can have 360 degree view of their finances with respect to their households, Businesses and related individuals.
• Client can plan his financial goals, investments and plans according to the detailed finances listed.

 Advisor

• A wealth manager/ advisor can study about clients finances, goals and plans and advice accordingly that helps the advisor.
• A wealth manager/ Advisor can build 1-to-1 relationships with clients for key investment decisions.
• A wealth manager/Advisor coordinates with financial experts, attorneys, accountants and insurance agents to give consolidated advice for client’s long term goals
• A wealth manager/Advisor work with the following kinds of accounts.
  • Investment accounts
  • Bank accounts
  • Insurance policies
  • Assets and liabilities, such as a home mortgage

Process

• Advisor gathers information about client’s current finance situation and guide them with their objectives like
  • Investment Planning
  • Income Tax Planning
  • Retirement Planning
  • Insurance Planning
  • Business Planning
  • Education Planning
  • Cash Flow Analysis etc.
• Once the objective of the client is finalized Advisor helps to analyse the information, recommend a Plan and implementing the plan.
• Advisors also monitor the plans progress, update and improve the plan and also assist clients with day to day financial decisions