Private wealth management is a specialized field which involves ensuring the clients financial well being by means of rendering tailor made financial advice, suggesting profitable investment solutions for high net worth individuals/ families/ organizations.
The number of high net worth individuals has increased sharply in the country owing to high number of successful entrepreneurs with considerable wealth generation in India; the demand for expert advice has also increased. Many of the Indian companies are availing the services of global firms to attract more individuals for rendering wealth management services.
The advantages of hiring specialized knowledge for wealth management are:
a. Professionals with proven track record in their respective fields are the ones that formulate and discuss investment strategies with the client. The client has a better grasp of the situation and risk involved.
b. The private wealth management companies also provide taxation services in India. With professionals planning the tax returns, etc. one can save money by minimizing on taxes. Besides, this taxation service is not only about saving on tax; it is also about adding value to the organization.
c. Another major service provided by these wealth management firms is estate management. A client can very well entail the services of experienced people to manage his estate. It surely provides better returns and protection over the client’s estate.
d. It is also a way for a country to earn foreign exchange. If an agency in one country is providing wealth management services to a client in another country, the previous country is earning foreign exchange for the services rendered.
e. Not only do these wealth management companies manage wealth for the present, their plans usually spans many years in the future sometimes even decades. It is one of the best help to secure one’s future.
One of the areas where quite a few wealth management agencies advice is investing in private equity firms in India. According to Preqin, an independent research agency, private equity funds have raised more than seventeen billion dollars since 2000. When the global recession hit the world, it also hit the private equity firms in India. It led to a decline to almost 60% in the private equity sector of the country in 2009. But backed by a robust economy, a gradual stability and improvement has been seen since then. It is estimated that the private equity sector in the country will witness investments of nearly ten billion dollars in 2011. This is attributed to a sluggish stock market and increasing number of budding entrepreneurs in India who are looking for funding. Also in this period what has changed is the time tested formula of wealth creation in India. More and more companies understand that one needs to strike a balance between their short term priorities and long term goals to be able to survive in the long run.
Contact:
Chimes, 5th Floor, 61, Sector 44,
Gurgaon, Haryana – 122003, India.
Phone :+91 124 4995400, +91 124 4499 54009
Fax :+91 124 4995410
Email: [email protected]
http://www.clientassociates.com/
