Wealth Management
Content
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services. High Net Worth Individuals (HNWIs), small business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management. Wealth managers can be an independent Certified Financial Planner, MBAs, Chartered Strategic Wealth Professional, CFA Charterholders or any credentialed professional money manager who works to enhance the income, growth and tax favored treatment of long-term investors. Wealth management is often referred to as a high-level form of private banking for the especially affluent. One must already have accumulated a significant amount of wealth for wealth management strategies to be effective.
Wealth management – is it just for the super rich? Or is it for everyone? With wealth and disposable income growing, wealth management is getting increased attention. Looks like the spotlight is on wealth management services today! Here’s a peek into what’s hot! Do you need wealth management services? You probably think you don’t. But with the changing trends in the ability to earn and save, with the shift from savings in traditional guaranteed products and increasing awareness of wealth management services, you’ll surely agree that wealth management services aren’t just for the wealthy anymore! Increasing wealth management services A number of banks and financial institutions are seeking a share in the fast-growing wealth management services market that’s set to double every two years. Today you can choose among a number of private banks like Citigroup, ICICI, Standard Chartered and ABN Amro. You can also avail wealth management services at nationalized banks like State Bank of India and Canara Bank. NRIs are estimated to hold financial wealth to the tune of $500 billion in India. NRIs form a major chunk of the customer base for Personal Wealth Management industry in India. [Source: PTI Report]
With the combined wealth of the 20-million strong NRI population estimated to be over one trillion dollars, increasing wealth management services will surely ring in more financial cheer for NRIs here! Previously, NRIs had to avail wealth management services from abroad. But today with the increasing number of wealth management services available here, they don’t need to seek help elsewhere! Personalized financial planning services and packages and a host of exclusive privileges of building wealth and security – that’s what wealth management services assure you!
Wealth Management Services – choose wisely! Wealth management means more than just sticking to a budget! It helps you plan for the future. You’ll find yourself in the midst of services that claim to help you manage your money and provide you with complete wealth management services. You can find a customized solution for your assets and follow the right avenue to ensure that you achieve your financial goals. What do you need to do? Just offer the necessary details on your finances to the wealth management executive. The executive will help you build your financial plans so you can feel comfortable and be assured that you’ve managed your wealth in the best way!
However, it’s important to look at the experience of the wealth management service and the company’s reputation before you entrust your wealth into their hands.
Wealth management can help you determine what's really important to you, then develop actionable strategies to help you realize your most cherished hopes and defend against the things that might undo them. Investments? Of course. Borrowing? Strategically, yes. Managing risk? Systematically. Planning deliberately so that your wealth works to bring you a lifestyle well earned? That's where it starts. Income and Lifestyle Through an in-depth discovery process your will work with you to understand and document what you want to do in this lifetime, from now until retirement and from then on. We'll then map out a course to help you seek the returns you'll need for how you intend to live and to achieve the income you'll need to do exactly what you want one year at a time. And, if you like, strategies to guarantee that income. Borrowing We view borrowing as a strategy — an array of ways to unlock value in assets you own, without compromising the ability of those assets to continue to work for you over time. If such talk of strategy sounds like how most firms talk about investing, it should. We believe how people invest and how they borrow are inextricably linked — both sides of one balance sheet, one plan. Asset Protection By understanding the lifestyle you enjoy, and the one you're building toward, your can see the threats against it — taxes, inflation, volatility, creditors, lawsuits, identity thieves, tragedy — and help you deal with them using everything in the arsenal of one of the world's largest financial services firms. Wealth Transfer This might mean a passion for education, or a sense of obligation for each generation to help give the one that follows a leg up in life. Or both. It could mean protecting a work ethic and thirst for accomplishment, or protecting your family's bonds of affection toward one another. Whatever it is, it should start with your definition of a rich life. Investment Management We believe that your plan for your life is the most important part of investing. Little things...like when you plan to retire — and when you secretly hope to retire. The business you'll open when you do. How much you'd like to travel. And the aging parent who will need to move in with you in the next few years.
Business Strategies Our clients tell us that seeing this bigger picture makes all the difference between us and what they used to expect from a financial firm — in how we think, how we plan and in the scope of what we do. From our standpoint, it's simply a matter of treating your business like it's the biggest investment of your life, if for no other reason than that it is.
What is Customer Profiling or Field Investigation?
Customer profiling is about collecting relevant and available customer details such as address, age, gender, education, housing, lifestyle behaviours, purchase preferences, travel preferences, buying patterns and so on and so forth. In short a complete address investigation and financial health-check is performed. These factors or characteristics help discriminate and categorize customers into groups and enable analysis of their paying capacity of services or products or future purchasing decisions. Customer profiles are of two types- demographical and behavioural. A demographically based profile is organized on a set of characteristics, such as his marital status, whether or not he has children, the neighbourhood he resides etc.. On the other hand a behaviour-based profile is one that is prepared after scrutinizing the behavioural pattern of a customer such as, his/her payment patterns of products or services, how often he/she visits a website etc. While a demographic profile helps define the market for sales, the second profile is about action, and helps determine whether a customer will make payments of bought products and services, regularly or not. And, this is the main aim of any customer profiling or field investigation agency.
CUSTOMER PROFILE A description of a customer or set of customers that includes demographic, geographic, and psychographiccharacteristics, as well as buying patterns, creditworthiness, and purchase history.
Customer Profiling Benefits
Many of our customers ask for help in finding out who their customers are. It's an important question to ask — and answer. Once you peform customer segmentation, you can understand who your customers are from a demographic perspective. And you're on your way to achieving many key benefits for your organization: Understand Untapped Market Potential
An accurate profile of your customers allows you to analyze market areas or neighborhoods to understand your penetration rates and the market potential for your products and services. Penetration rate points to where market opportunity exists. Improve Targeted Marketing By identifying and understanding the customers in the clusters where you have the highest penetration, you can target marketing or business activities to those who are most likely to purchase your products. You can improve response rates and ROI by precisely marketing to prospects with offers that will appeal specifically to them. Choose Better Sites Customer profiling is a key analysis necessary to project the size of the total market opportunity, and project revenue and customers for new or planned locations. Few companies can make successful site selection decisions without first understanding customer profiles.
Customer Profiling: Methods to Understanding Your Customers
Why understanding customers is critical to your business Understanding your customers helps you provide better service and identify your target group of customers. Failing to identify the target group makes it difficult to promote your products. Therefore, it is necessary to find out what kind of customers will actually be interested in the services or products you have to offer. Ways to Understand Customers Affinity Profiling Through this method, you study the buying habits of people in order to determine what kinds of products a particular customer requires. Thus, if you come across someone who buys lots of books, literature, and stationery, there is a good chance that they are in the teaching business and perhaps may be interested in buying more educational products. Demographic Profiling Business experts emphasize using a demographic profile to understand what kind of products click with a particular customer. Through demographic profiling, you can look into various details such as geographical location, marital status, and educational qualifications of a person to figure it what you can sell to them.
For instance, a man who has children and an impressive salary may be more interested in buying an overseas vacation package than a single man who is barely able to manage his daily expenses. Psychological Profiling Psychological profiling can be used to tell a lot about a person by understanding their psychological motivations. For example, when you see a person driving a BMW and wearing designer clothes, it's easy to guess that they love status symbols. Obviously, if you are selling an Armani watch, they would be a person who would want to buy it. Lifestyle Coding Lifestyle coding helps you to understand the way a person leads their life by looking at their hobbies and habits. For instance, if you come across a person who loves racing, they are also likely to be interested in vintage cars and stylish car accessories. Cluster Coding Class and social activities are closely linked, and a person who earns a very good salary and works for a multinational company is likely to be interested in formal clothes, laptop computers, PDAs and cell phones. Cluster coding helps you to understand what class a person belongs to and how it affects their lifestyle and preferences. No matter what kind of business you are in, understanding your customers' needs can help you to serve them better. Know what they expect from you so you don't disappoint them with your product offerings.
Wealth management – is it just for the super rich? Or is it for everyone? With wealth and disposable income growing, wealth management is getting increased attention. Looks like the spotlight is on wealth management services today! Here’s a peek into what’s hot! Do you need wealth management services? You probably think you don’t. But with the changing trends in the ability to earn and save, with the shift from savings in traditional guaranteed products and increasing awareness of wealth management services, you’ll surely agree that wealth management services aren’t just for the wealthy anymore! Increasing wealth management services A number of banks and financial institutions are seeking a share in the fast-growing wealth management services market that’s set to double every two years. Today you can choose among a number of private banks like Citigroup, ICICI, Standard Chartered and ABN Amro. You can also avail wealth management services at nationalized banks like State Bank of India and Canara Bank. NRIs are estimated to hold financial wealth to the tune of $500 billion in India. NRIs form a major chunk of the customer base for Personal Wealth Management industry in India. [Source: PTI Report]
With the combined wealth of the 20-million strong NRI population estimated to be over one trillion dollars, increasing wealth management services will surely ring in more financial cheer for NRIs here! Previously, NRIs had to avail wealth management services from abroad. But today with the increasing number of wealth management services available here, they don’t need to seek help elsewhere! Personalized financial planning services and packages and a host of exclusive privileges of building wealth and security – that’s what wealth management services assure you!
Wealth Management Services – choose wisely! Wealth management means more than just sticking to a budget! It helps you plan for the future. You’ll find yourself in the midst of services that claim to help you manage your money and provide you with complete wealth management services. You can find a customized solution for your assets and follow the right avenue to ensure that you achieve your financial goals. What do you need to do? Just offer the necessary details on your finances to the wealth management executive. The executive will help you build your financial plans so you can feel comfortable and be assured that you’ve managed your wealth in the best way!
However, it’s important to look at the experience of the wealth management service and the company’s reputation before you entrust your wealth into their hands.
Wealth management can help you determine what's really important to you, then develop actionable strategies to help you realize your most cherished hopes and defend against the things that might undo them. Investments? Of course. Borrowing? Strategically, yes. Managing risk? Systematically. Planning deliberately so that your wealth works to bring you a lifestyle well earned? That's where it starts. Income and Lifestyle Through an in-depth discovery process your will work with you to understand and document what you want to do in this lifetime, from now until retirement and from then on. We'll then map out a course to help you seek the returns you'll need for how you intend to live and to achieve the income you'll need to do exactly what you want one year at a time. And, if you like, strategies to guarantee that income. Borrowing We view borrowing as a strategy — an array of ways to unlock value in assets you own, without compromising the ability of those assets to continue to work for you over time. If such talk of strategy sounds like how most firms talk about investing, it should. We believe how people invest and how they borrow are inextricably linked — both sides of one balance sheet, one plan. Asset Protection By understanding the lifestyle you enjoy, and the one you're building toward, your can see the threats against it — taxes, inflation, volatility, creditors, lawsuits, identity thieves, tragedy — and help you deal with them using everything in the arsenal of one of the world's largest financial services firms. Wealth Transfer This might mean a passion for education, or a sense of obligation for each generation to help give the one that follows a leg up in life. Or both. It could mean protecting a work ethic and thirst for accomplishment, or protecting your family's bonds of affection toward one another. Whatever it is, it should start with your definition of a rich life. Investment Management We believe that your plan for your life is the most important part of investing. Little things...like when you plan to retire — and when you secretly hope to retire. The business you'll open when you do. How much you'd like to travel. And the aging parent who will need to move in with you in the next few years.
Business Strategies Our clients tell us that seeing this bigger picture makes all the difference between us and what they used to expect from a financial firm — in how we think, how we plan and in the scope of what we do. From our standpoint, it's simply a matter of treating your business like it's the biggest investment of your life, if for no other reason than that it is.
What is Customer Profiling or Field Investigation?
Customer profiling is about collecting relevant and available customer details such as address, age, gender, education, housing, lifestyle behaviours, purchase preferences, travel preferences, buying patterns and so on and so forth. In short a complete address investigation and financial health-check is performed. These factors or characteristics help discriminate and categorize customers into groups and enable analysis of their paying capacity of services or products or future purchasing decisions. Customer profiles are of two types- demographical and behavioural. A demographically based profile is organized on a set of characteristics, such as his marital status, whether or not he has children, the neighbourhood he resides etc.. On the other hand a behaviour-based profile is one that is prepared after scrutinizing the behavioural pattern of a customer such as, his/her payment patterns of products or services, how often he/she visits a website etc. While a demographic profile helps define the market for sales, the second profile is about action, and helps determine whether a customer will make payments of bought products and services, regularly or not. And, this is the main aim of any customer profiling or field investigation agency.
CUSTOMER PROFILE A description of a customer or set of customers that includes demographic, geographic, and psychographiccharacteristics, as well as buying patterns, creditworthiness, and purchase history.
Customer Profiling Benefits
Many of our customers ask for help in finding out who their customers are. It's an important question to ask — and answer. Once you peform customer segmentation, you can understand who your customers are from a demographic perspective. And you're on your way to achieving many key benefits for your organization: Understand Untapped Market Potential
An accurate profile of your customers allows you to analyze market areas or neighborhoods to understand your penetration rates and the market potential for your products and services. Penetration rate points to where market opportunity exists. Improve Targeted Marketing By identifying and understanding the customers in the clusters where you have the highest penetration, you can target marketing or business activities to those who are most likely to purchase your products. You can improve response rates and ROI by precisely marketing to prospects with offers that will appeal specifically to them. Choose Better Sites Customer profiling is a key analysis necessary to project the size of the total market opportunity, and project revenue and customers for new or planned locations. Few companies can make successful site selection decisions without first understanding customer profiles.
Customer Profiling: Methods to Understanding Your Customers
Why understanding customers is critical to your business Understanding your customers helps you provide better service and identify your target group of customers. Failing to identify the target group makes it difficult to promote your products. Therefore, it is necessary to find out what kind of customers will actually be interested in the services or products you have to offer. Ways to Understand Customers Affinity Profiling Through this method, you study the buying habits of people in order to determine what kinds of products a particular customer requires. Thus, if you come across someone who buys lots of books, literature, and stationery, there is a good chance that they are in the teaching business and perhaps may be interested in buying more educational products. Demographic Profiling Business experts emphasize using a demographic profile to understand what kind of products click with a particular customer. Through demographic profiling, you can look into various details such as geographical location, marital status, and educational qualifications of a person to figure it what you can sell to them.
For instance, a man who has children and an impressive salary may be more interested in buying an overseas vacation package than a single man who is barely able to manage his daily expenses. Psychological Profiling Psychological profiling can be used to tell a lot about a person by understanding their psychological motivations. For example, when you see a person driving a BMW and wearing designer clothes, it's easy to guess that they love status symbols. Obviously, if you are selling an Armani watch, they would be a person who would want to buy it. Lifestyle Coding Lifestyle coding helps you to understand the way a person leads their life by looking at their hobbies and habits. For instance, if you come across a person who loves racing, they are also likely to be interested in vintage cars and stylish car accessories. Cluster Coding Class and social activities are closely linked, and a person who earns a very good salary and works for a multinational company is likely to be interested in formal clothes, laptop computers, PDAs and cell phones. Cluster coding helps you to understand what class a person belongs to and how it affects their lifestyle and preferences. No matter what kind of business you are in, understanding your customers' needs can help you to serve them better. Know what they expect from you so you don't disappoint them with your product offerings.
