The first step in wealth management is client profiling. i.e. understand the details pertaining to the client in order to make the most efficient plan and have a successful executions of the plan Clients are segregated into various classes based on the person’s feasibility on certain features.
They are as follows:
- Liquidity
- Capital adequacy
- Cash flow management
- Lifestyle preservation
- Current financial obligations
- Future goals
- Personality
- Life experience
- Personal Circumstances
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