If you are one of the lucky few to hold wealth, you must make decisions regarding its management. There is an entire industry devoted to managing the assets of the wealthy asset management hong kong. The challenge for many wealthy people is to choose a firm or group of people that will serve their needs while not overcharging them for services.

Generally speaking there are three types of institutions that serve this purpose; private banks, financial institutions and consortiums (groups) that specialize in wealth preservation and enhancement.

Private banks – These institutions pride themselves on taking care of all your financial necessities like estate planning, tax advice, etc. Some of these may be associated with larger banking operations but specialize in serving clientele with high net worth.

Cash Management is the practice of managing your cash flow, with your cash flow being income vs expenses. It can also be made up of interest income that you receive from places like savings accounts or fixed term deposits. This form of wealth building is based on slow accumulation over a long period of time.

Financial institutions – These groups help with investment and financial planning as well as estate and tax matters. Some examples of these types of financial firms are brokerage houses, mutual fund companies and insurance companies.

Investment Management is when an investor does all the work to pick investments for their clients, who then benefit from tax breaks and other perks given to business owners and shareholders (i.e dividends). This form of investing has a higher risk than wealth management solutions because it is focused on picking stocks that will give you a good return.