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Old 12-31-2012, 04:52 AM
KimMills KimMills is offline
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Default What is the difference between Financial planning and wealth management
What is the difference between Financial planning and wealth management. These terms are used quite often too loosely and kind of gets me confusing as to whether they are similar terms or have a wide difference. They kind of always sound the same to me.
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Old 02-05-2014, 02:45 PM
jhony117 jhony117 is offline
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Thanks for sharing such a nice and great information.
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Old 02-19-2014, 09:54 AM
Topmer Topmer is offline
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Financial planning is applicable to everyone and can be done by the individual as well as under the direction of a professional Financial Advisor. Typically this includes maintaining an IRA, 401-K, and perhaps other investment strategies such as a market account for buying/selling stocks and bonds, CDs. etc. Wealth management is a subset of financial planning for those who are very well off and need extensive professional financial advisory services that include large share (big bucks) investment opportunities, tax planning, charitable trusts, etc.
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Old 03-03-2014, 01:47 PM
manmohanbkd manmohanbkd is offline
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Financial planning is related for all the person, and wealth management is related to individual persons......

Thanks
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Old 05-23-2014, 07:26 AM
ryancody ryancody is offline
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Financial Planning is the construction of the basic blueprint for an individual or family to follow that include asset allocation, taxation, cash flow management, a safety fund, insurance and basic risk management, and the construction of a foundation estate plan including living documents.
Wealth Management is the way in which an individual accumulates enough wealth, and this is a moving target for each person, start thinking about Wealth Preservation and Wealth Transfer, now we are into Wealth Planning to transfer wealth efficiently and minimize.
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Old 06-20-2014, 07:53 PM
Mike Robinson Mike Robinson is offline
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Financial planners recommend the courses of action and financial products that will be most beneficial to their clients, who may be individuals or organisations.The terms financial planner, financial adviser and wealth manager are fairly interchangeable; they all refer to professionals who help to secure a person?s or a company?s financial future. A wealth manager will work with higher net-worth individuals but what they do is essentially the same, focusing on each client?s needs and understanding their aspirations for the future.
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Old 07-01-2014, 12:50 AM
Joseph Miller Joseph Miller is offline
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Financial planning to plan for your future with available funds now. The thumb rule for financial plan is to protect yourself and family using insurance, invest and balance your portfolio based on your age, risk profile, investment focus as well as financial position. Through financial planning, a person planning his earnings in a proper way to achieve his long term goals. One with good knowledge about financial planning can plan himself without help of anybody.

Secondly, Wealth Management mean, manage present wealth by properly balance between investment instruments both from debt and equity related, to avoid or protect against possible capital erosion. Wealth management commonly required the help of a or group of expert to manage your existing funds.
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