Wealth Management
Wealth management is a comprehensive service that aims to grow and protect client wealth. Read our What is Wealth Management guide to learn more.
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The number of high-net-worth individuals (HNWIs) is increasing globally.
In 2002, there were 7.7 million HNWIs across the world, according to the World Wealth Report. By 2022, there were nearly 22 million – a 103% increase.
Asia is second to North America in terms of wealth distribution, with a HNWI population of 7 million.
With the number of wealthy individuals increasing, there is now an even greater need to ensure their wealth is managed and protected. As a result, there has been a sharp rise in the number of people using private wealth management companies.
But what is wealth management?
This guide provides a comprehensive breakdown of wealth management. We will look at what it is, the benefits and the services it covers.
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What is wealth management?
Wealth management is a holistic service that combines various financial disciplines to grow, protect and manage an individual's wealth.
It's not just about investment advice. It includes all parts of a person's financial life.
The primary objective is to enhance wealth through a personalised strategy integrating various financial services and bespoke wealth products.
Wealth managers typically work with high-net-worth clients. But while wealth management services are often used by affluent clients, anyone can benefit.
A wealth manager can offer services such as:
Investments
Private wealth managers tailor your investment strategy to align with your risk tolerance and personal goals. This can help guide you through selecting diversified investments like stocks, bonds, and mutual funds.
Retirement planning
Wealth managers ensure you're on track for a comfortable retirement, advising on savings strategies and managing retirement accounts to meet your future needs.
Tax planning
A Wealth management strategy can help minimise your tax burden through efficient investment strategies and planning. Reducing your tax liabilities can help you maximise your wealth by keeping more of your earnings.
Asset and portfolio management
By holistically managing your assets and investments, wealth managers keep your portfolio balanced, diversified, and adjusted to market changes. This can help keep your investment portfolio optimised for financial growth and stability.
What are the benefits of wealth management?
Effective wealth management ensures that your financial assets are protected and grown over time.
Wealth management offers a holistic strategy for financial planning, equipping you with the necessary tools and insights for a secure financial future. It also helps clients make more informed decisions and better navigate the complexities of the financial markets and tax laws.
With the assistance of a wealth manager, you can enhance your wealth efficiently, simplifying the journey towards achieving your immediate and long-term financial objectives.
Wealth management is especially important for expatriates who face additional challenges such as fluctuating exchange rates, cross-border tax implications, and differing legal systems.
Wealth management in Asia
Statista forecasts a notable surge in the Wealth Management market in Asia by 2024, with Assets under Management (AUM) anticipated to hit a projected US$15,910.00 billion.
And as the region's wealth grows, so does the complexity of managing it. Wealth management in Asia equips clients with the tools to take advantage of the region's unique market conditions.
It's all about finding tailored local and global investment strategies to help you reach your financial goals while helping to safeguard wealth.
Holborn Assets: Expat wealth management solutions
Wealth Manager Expertise in Key Asian Markets
With a strong presence in Hong Kong, Malaysia, Vietnam, and Thailand, Holborn Assets boasts a team of wealth managers who are not only experts in their field but also deeply understand the local financial landscape. This local expertise, combined with a global perspective, makes Holborn Assets uniquely positioned to manage your wealth.
The Holborn Difference: Beyond Asset Management
While asset management focuses on optimising investment returns, wealth management at Holborn Assets encompasses a broader spectrum. It includes estate planning, tax advice, and retirement planning, providing a comprehensive approach to managing your financial well-being.
What Holborn Assets Wealth Managers Do
Our wealth managers take the time to understand your financial goals, risk tolerance, and life circumstances. They then craft a bespoke financial plan that aligns with your objectives, providing ongoing advice and adjustments as your life and the markets evolve.
Wealth management services with Holborn Assets
Wealth management is a comprehensive service that helps you better navigate complex financial situations. It provides the tools and knowledge needed to make more informed financial decisions.
Take the first steps towards a more secure financial future with Holborn Asia.
We offer independent, professional advice and wealth management solutions to help you reach your objectives and goals.
We are part of the wider Holborn Assets Group, a leading, award-winning financial advisory company with over $2 billion in assets under management (AUM).
Take control of your wealth with Holborn. Book a free, no-obligation meeting today to learn how we can help you.
Frequently Asked Questions
Asset management focuses primarily on optimising investment returns through portfolio management. In contrast, wealth management provides a holistic approach to financial planning, incorporating investment advice, estate planning, tax strategies, and retirement planning to manage an individual's or family's wealth comprehensively.
