Wealth Management
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From the consumers point of view, electronic payment of bills is cheaper, faster, and more convenient than writing, posting and reconciling cheques. In addition, though limitations exist, a wider range of bank accounts or credit cards can be used for the electronic payment of bills.
Using electronic bill presentment and payment enables businesses to fast-track customer payments and get access to funds faster, which in turn results in cash flow improvement.
WHAT IS WEALTH MANAGEMENT?
Wealth management encompasses entire gamut of financial advisory services for a person's or a family's financial as well as non-financial assets. The advisor or relationship manager provides services such as financial planning, tax planning and estate planning, along with investment advisory services.
- Make you money
- Save you money
- Give you a better investment strategy
Process
There are many seasons in a person’s life and financial reality. We believe it is best to adopt a comprehensive approach to financial planning. In the Building phase you are accumulating and preserving your wealth. Living is enjoying the fruits of your wealth by pursuing your dreams. Giving is the distribution of wealth that shapes your lasting legacy.
WEALTHGURU OFFERING
WealthGuru offers private wealth advisory services to high-net-worth individuals (HNI) and corporate clients. we manage assets of HNI families and corporates as well as multi-advisor family offices across multiple asset classes: equity, fixed income, real estate and commodities. Advisory services backed by in-depth research, and an excellent personalized service offered by a team of well-qualified professionals with relevant industry experience make WealthGuru Private Wealth a name to reckon with in the Private Wealth Management space in India.
The Wealth Management Process
Wealth Management encompasses all areas of your financial life. We focus on your complete financial situation and offer tools to help you achieve financial independence. We employ a series of steps in helping you reach your financial dreams, and the cycle continues as we provide long term support for your financial goals.
Gathering Data
We start by taking a fresh, close look at your current financial situation. Together we gather information and examine your:
- Assets (and their fair market value)
- Liabilities
- Monthly Cash Expenditures
- Income Tax Situation
- Wills and Trusts
- Insurance Contracts
- Retirement assets
Gathering facts about these and other aspects of your current financial situation gives us and you a clear starting point on the road toward helping you meet your financial objectives. A thorough discussion will reveal any immediate actions that may be necessary before proceeding with our analysis.
Establishing Objectives
Once we have a clear understanding, together we determine what your financial goals and objectives are. We never assume your objectives are the same as those of any other person. We want to hear about what you desire and what you will need in the future.
We review your expectations with you and discuss their relationship with what we already know about you. Once again, our knowledge of economic trends helps us to develop tactics that are realistic. We have listed the types of objectives you may wish to take into consideration:
- Investment Planning
- Determining Investment Temperament & Risk Tolerance
- Setting Investment Goals
- Selecting Investment Variables
- Monitoring Investment Portfolio
- Retirement Planning
- Targeting Retirement Age
- Retirement Plan Selection and Design
- Targeting Income Needs at Retirement
- Distribution Alternatives & IRA Roll Over Options
- Design of Deferred Compensation Plans
- Cash Flow Analysis
- Identifying Income Sources
- Projecting Living Expenses
- Implementing Methods to Improve Cash Flow
- Income Tax Planning
- Methods of Reducing Tax
- Tax Deferral Techniques
- Income Shifting Techniques
- Insurance Planning
- Determining Life Insurance Needs
- Determining Disability Insurance Needs
- Determining Long Term Care Insurance Needs
- Selecting Insurance Products
- Business Planning
- Selecting a Business Entity
- Techniques for Transferring Ownership
- Employee Benefit Plans
- Education Planning
- Targeting Cash Needs for Education
- Selecting Methods for Funding Education
Processing and Analyzing Information
Once the objectives have been identified, we begin the process of analyzing your financial information to develop a strategy for your individual financial plan. We pay particular attention to those areas of your plan of utmost importance to you.
Recommending a Total Plan
Upon completion of analysis, we can provide an outline of an overall strategy. With our previous experience and training, as well as the new information we are constantly receiving, we will be able to carefully design the right plan for your needs and desires. All of the input you provide us ensures your plan will be uniquely fitted to the attainment of your particular goals. Once we have laid out a strategy, we again consult you to make sure we haven’t missed anything. This ensures that you thoroughly understand every aspect of the strategy. We take time to answer all of your questions before we take another step.
Implementing the Plan
The best plan is worthless without proper implementation so in this critical step we walk with you to put the plan in action. We will bring the strategy to life with your help and strive to make your financial objectives a reality.
Monitoring the Plan
The wealth management process does not end with the implementation of the plan. We continue to monitor the progress, and as your circumstances and desires change, we update and improve the initial plan. We invite your questions and can assist with day-to-day financial decisions.