Wealth management Essay Example | Topics and Well Written Essays - 2000 words

Wealth focussing - Essay ExampleThere is no quantity definition for wealth management that will be generally accepted, though according to Maude a canonic definition for wealth management would be financial services standd to wealthy customers, mainly individuals and their families (Maude, 2006).a typewrite of financial service that combines personal investments, tax planning strategies, estate planning and legal counsel. It is designed to provide a broad array of services within the confines of one officeDetailing the fall upon elements that differentiate their services from other forms of retail financial institutions, wealth managers draw attention to the exclusiveness of their client relationships, which are extensive in that they cover all aspects of a clients financial life, and with owing(p) respect to the advisers devoted knowledge of a clients priorities and values. Likewise, this breadth and discernment of the manager-client relationship allows the wealth manager t o form and apply specially designed solutions that meet all observe elements of a clients financial welfare. The following three criteria distinguish a firm as a wealth manager-The relationship between wealth managers and their clients, in regard to both monetary value of breadth (such as holistic, comprehensive, and all-inclusive) and depth (intimate and individualised).Since wealth management has scored the fastest growing in late 1990, all of the financial services industry sector and tied(p) through the recession after that wealth management still attracts investors. In term of the population suppuration the number of millionaires till 2006 the number increased which is more than 7% a year referring to the devolved in the economic system in Europe and North America.Given that financial markets and economic growth in 2008 has been far worse so far than 2007, I expect flat growth or a contraction in the millionaire population in 2008.