Therefore the personal financial planning industry in India has come up with various firms who offer the services of private wealth management for their clients.
In todays changing market scenario, it is very essential to keep oneself updated and prepared to meet any kind of circumstances. But its not possible for individuals to keep abreast of all latest instruments, offers and plans available in the market. This is where a professional financial planner comes in!
These financial planners or wealth managers, as they are popularly known, have made asset tracking solution, India easier and smooth. They offer valuable services in the fields of;
*Private Wealth Management
Individuals as well as organizations seek the help of such wealth management firms since they offer the best and timely advice possible to secure the future of the individual clients as well as their family and office. Most of these family office service providers are comprised of experienced individuals in the advisory board who have been respected members of private equity firms in India.
The working of a private equity firm is similar to a wealth management firm and is based on complete trust, responsibility and honesty. Many start-up ventures in India who have shortage of funds, seek the help of private equity firms for the expansion of their business. Since various members of wealth management firms have been associated with private equity firms in India, or have been private banker themselves they offer accurate solutions to;
*Personal tax planning,
*Insurance and investment options
*Retirement planning and
*Estate planning etc.
*Technical advice regarding the recent changes and developments in the financial planning field
Most members carry credentials of a Certified Financial Planner certification, though it is not mandatory. They strive to accumulate, protect and increase private wealth of clients through a methodical and well planned approach. The whole system of personal financial planning industry in India is based on trust, without which it is hard to succeed for the private management firms as well as for individuals seeking help.