Difference between financial planning and wealth management
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Wealth management is quite broader in perspective and includes asset management services, investment management, real estate planning, tax planning, etc. Asset management, on the other hand, is related to the management of assets and investments such as stocks, bonds, real estate and other assets.
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Financial planning - Financial planning - This process is about the accumulation of the funds and other resources for the specific working cycle of the frim to meet the need and maintain the efficiency and effectiveness of the running business. Its main motive is to provide sufficient resources for working to opt for the desired goals and objectives.
Wealth management It is a procedure of structuring wealth of the firm along with the running business also make it sustainable to transfer it to the future. This is a combination of tax saving, wealth management as well as an estate planning is related to the world-wide for the firm.
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