Understanding wealth management: Part 2

Wealth management is generally considered superior to private banking and done for people who fall under high income category, says SachinKarpe. Once this wealth is gathered, it becomes important to channelize it such as it offers maximum protection. You must allow your money also to work for you.

But, Sachin karpe advices, you must direct your wealth in appropriate directions. Unethical money professionals can do an irreparable harm to your wealth. Therefore, a wealth management firm will adopt all ethical norms to invest your wealth in right instruments. They will analyse your wealth and recommend asset allocation to various verticals.

Once a detailed plan is chalked out, an investment policy statement is made which needs to be agreed upon by you. This makes wealth management a relatively risk free way to invest money, asserts Sachin Karpe.