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Wealth Management and Monetary Planning

Vladimir's LST System

 Wealth   management  can be referred to as an advanced discipline relating to advice in terms of investment which incorporates specialist monetary services and financial planning. The main objectives are providing families dealing with services in retail banking, legal resources, investment  management , and taxation advice goals to sustain and grow long-term  wealth . Monetary planning can help the individuals who are accumulating  wealth  or have already done so.

 Wealth   management  can be exemplified through self-governing advisors or huge corporate entities such as Citigold of Citibank and the other extensions regarding services relating to retail banking designed for focusing on customers dealing with retail worthy of high nets. Customers of such type are likely to be categorized as ‘upper retail’ or ‘mass affluent’ clients owing to net worth of theirs, potential products owned by them from bank, assets of their under management, and many other segmentation methods.

Banks create exclusive services, branches, and other advantages for retaining or attracting the customers who can earn more profits in comparison with the customers detailing with retail banking. It should, however, be noted that clients of  wealth   management  cannot be termed as ‘Private Banking’ clients as they do not justify the criteria of services of banking provided by private banks.


The term ‘ Wealth   Management ‘ traces its origin in the 90s in the United States through Insurance Companies, banks, and Broker Dealers. The evolution of  wealth   management  traces to high-net worth monetary consulting for people who happen to be topmost clients of any of the firms, to high level private banking which makes provisions for different kinds of investment, bank products, and insurance. With the passing of Glass-Steagall Act in the year 1999, monetary firms have been able to make arrangements for all the 3 services from a single office.

With emergence of  wealth   management  in the form of professional service, along with career opportunity, educational programs like AAFM, i.e. American academy of Financial  Management  certified by CWM and Chartered  Wealth  Manager plan are arranging for modified  wealth   management  training to individuals and corporations alike.  Wealth   Management  is used to serve the affluent community, along with Chartered Monetary analysts, certified managers of  wealth , Public Accountants, government-licensed lawyers, insurance professionals, etc.

Criteria for various countries

In the US, only CPAs and lawyers possess the license provided by government for providing advice related to tax or legal matters on complicated  wealth   management , tax law, estate planning, retirement, or even other legal matters like divorce or business management.

In Australia, the rules regarding  wealth   management  are such that only those advisers who qualify under PS 146, i.e. Policy Statement no.146, outlined under Financial Services Reform Act of the year 2001, administered and governed by ASIC, i.e. Australian Securities Investments Commission are entitled to provide advice regarding financial products to the retail clients.

Job profile

People engaged in the  wealth   management  generally work for brokerage firms, investment banks, accounting firms, law firms, trust departments, consumer banks, or portfolio management and investment firms. Smaller ones like registered advisors might also provide broad array regarding services pertaining to family and office.

Products dealt with in  wealth   management  include stock trading and stocks, investments linked with equity, derivatives and products relating to structured investment, foreign exchange, unit trusts and mutual funds, investments and management of property, etc. Alternative investments with respect to  wealth   management  include art, wine, precious metals, etc.

Vladimir's LST System

Source by Tim J Jensen



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