UNIVERSITY OF MUMBAI

PROJECT ON

A MAJOR RESEARCH PROJECT

ON
A STUDY OF AWARENESS & KNOWLEDGE ABOUT
WEALTH MANAGEMENT AMONG INDIVIDUALS

SUBMITTED BY
CHANDAN GHOSH

PROJECT GUIDE
MISS.PADMA CHARI

BACHELOR OF MANAGEMENT STUDIES

SEMESTER V
(2017-2018)

VIVA COLLEGE OF ARTS, SCIENCE & COMMERCE.

 STUDENTS DECLARATION
I’m Mr. Chandan Ghosh of BMS - semester v (2017-18)
hereby declare that I have completed and conduct the major
research project report on “A STUDY OF AWARENESS
&KNOWLEDGE ABOUT WEALTH
MANAGEMENTAMONG INDIVIDUALS”
The information is submitted is true and original to the
base of my knowledge.

STUDENT SIGNATURE
(CHANDAN GHOSH)
CERTIFICATE
ACKNOWLEDGEMENT
 PREFACE
Traditionally, wealth management services were the preserve for the very rich,
which needed help to manage substantial sums of money. Wealth management is
both an art and science. It involves understanding the investor very well.

However, the World Wide Web has opened up the world of financial management
to a much wider audience and one doesn’t have to be a millionaire to take
advantage of these sorts of services. Other than managing stocks and shares
portfolio, wealth manager can also help the investors to pick and choose between
different collective funds in which they may be interested. He can also help the
investor in selecting from a range of wealth management plans, tailor-made to the
needs and criteria of specific individuals. One may choose to invest purely for the
purpose of increasing long-term capital or wish to take a more balanced position
between long-term gains and immediate income. In addition to advising investors
on managing individual portfolio, a wealth manager may offer independent
financial advice about a range of personal finance products. He could also help
with tax planning, including minimizing potential liabilities such as capital gains
tax.

A wealth manager should be able to help investors to unlock money in current

investment in assets, continually monitoring the breadth and direction of the
markets to make quicker adjustments in investment portfolio. Some wealth
managers also provide online research tools, investment calculators and access to
wealth management reports. Wealth management is all about managing investment
returns and risks for well-endowed investors, both individual and institutions with
investible funds. It requires the wealth manager to have in depth knowledge about
financial markets, the instruments, the players, as well as the environment.

Thus project will study the Awareness of Wealth Management in Individuals

 INDEX
SR.NO TOPICS PAGE
NO.
INTRODUCTION
WEALTH MANAGEMENT
Wealth Management as a concept originated in year 1990’s in the US. Essentially
it is the investment advisory covering financial planning that provides individuals
with private banking/ asset management/ taxation advisory & portfolio
management. Warren Buffett is the most successful investor in world. He says that
“The basic ideas of investing are to look at stocks as business, use the market's
fluctuations to your advantage, and seek a margin of safety. That's what Ben
Graham taught us. A hundred years from now they will still be the cornerstones of
investing”. He is even called as wealth creator.

MEANING:
1. Wealth management combines both financial planning and specialized
financial services, including personal retail banking services, estate
planning, legal and tax advice, and investment management.
2. The goal of wealth management is to sustain and grow long-term wealth.
3. A wealth manager provides a “one stop solution” to his clients to help them
achieve their goals. It involves a deeper understanding of the various aspects
of an individual like his social status, family situation, health business, estate
and succession.
4. Small business owners, high net worth individuals(HNWI)and families who
desire the assistance of a financial advisory specialist call upon wealth
manager to ensure that their wealth is transferred to the generation in a tax
efficient manner.
5. Wealth management =Investment consulting + Advanced planning +
Relationship management.

MEANING OF WEALTH MANAGERS:

Wealth manager means any person who enters into a contract or
arrangement with a client. Pursuant to such arrangement he advises the
client or undertakes on behalf of such client management or administration
of portfolio of securities or invests or manages the client’s funds.
 A discretionary portfolio manager means a portfolio manager who exercises
or may under a contract relating to portfolio management, exercise any
degree of discretion in respect of the investment or management of portfolio
of the portfolio securities or the funds of the client, as the case may be. He
shall independently or individually manage the funds of each client in
accordance with the needs of the client in a manner which does not resemble
the mutual fund.
A non discretionary portfolio manager shall manage the funds in accordance
with the directions of the client.
A portfolio manager by virtue of his knowledge, background and experience
is expected to study the various avenues available for profitable investment
and advise his client to enable the latter to maximize the return on his
investment and at the same time safeguard the funds invested

NEED FOR WEALTH MANAGEMENT:

Wealth management is a process encompassing many activities of investment in
assets and securities. It is a dynamic and flexible concept and involves regular and
systematic analysis, judgment and action. The objective of this service is to help
the unknown and investors with the expertise of professionals in investment
portfolio management. It involves construction of a portfolio based upon the
investor’s objectives, constraints, preferences for risk and returns and tax liability.
The portfolio is reviewed and adjusted from time to time in tune with the market
conditions. The evaluation of portfolio is to be done in terms of targets set for risk
and returns. The changes in the portfolio are to be effected to meet the changing
condition.

Portfolio construction refers to the allocation of surplus funds in hand among a

variety of financial assets open for investment. Portfolio theory concerns itself with
the principles governing such allocation. The modern view of investment is
oriented more go towards the assembly of proper combination of individual
securities to form investment portfolio.
A combination of securities held together will give a beneficial result if they
grouped in a manner to secure higher returns after taking into consideration the risk
elements.

The modern theory is the view that by diversification risk can be reduced.
Diversification can be made by the investor either by having a large number of
shares of companies in different regions, in different industries or those producing
different types of product Slines. Modern theory believes in the perspective of
combination of securities under constraints of risk and returns.
 Chapter 1

OBJECTIVE OF THE PROJECT

1. To know detail about wealth management
2. Difference types of investment avenues
3. Financial planning of wealth management
4. Persons involved in wealth management
TO KNOW DETAIL ABOUT WEALTH
MANAGEMENT
WEALTH MANAGEMENT
Wealth Management as a concept originated in year 1990’s in the US. Essentially
it is the investment advisory covering financial planning that provides individuals
with private banking/ asset management/ taxation advisory & portfolio
management. Warren Buffett is the most successful investor in world. He says that
“The basic ideas of investing are to look at stocks as business, use the market's
fluctuations to your advantage, and seek a margin of safety. That's what Ben
Graham taught us. A hundred years from now they will still be the cornerstones of
investing”. He is even called as wealth creator.

MEANING:
1. Wealth management combines both financial planning and specialized
financial services, including personal retail banking services, estate
planning, legal and tax advice, and investment management.
2. The goal of wealth management is to sustain and grow long-term wealth.
3. A wealth manager provides a “one stop solution” to his clients to help them
achieve their goals. It involves a deeper understanding of the various aspects
of an individual like his social status, family situation, health business, estate
and succession.
4. Small business owners, high net worth individuals(HNWI)and families who
desire the assistance of a financial advisory specialist call upon wealth
manager to ensure that their wealth is transferred to the generation in a tax
efficient manner.
5. Wealth management =Investment consulting + Advanced planning +
Relationship management.

MEANING OF WEALTH MANAGERS:

Wealth manager means any person who enters into a contract or
arrangement with a client. Pursuant to such arrangement he advises the
client or undertakes on behalf of such client management or administration
of portfolio of securities or invests or manages the client’s funds.
 A discretionary portfolio manager means a portfolio manager who exercises
or may under a contract relating to portfolio management, exercise any
degree of discretion in respect of the investment or management of portfolio
of the portfolio securities or the funds of the client, as the case may be. He
shall independently or individually manage the funds of each client in
accordance with the needs of the client in a manner which does not resemble
the mutual fund.
A non discretionary portfolio manager shall manage the funds in accordance
with the directions of the client.
A portfolio manager by virtue of his knowledge, background and experience
is expected to study the various avenues available for profitable investment
and advise his client to enable the latter to maximize the return on his
investment and at the same time safeguard the funds invested

NEED FOR WEALTH MANAGEMENT:

Wealth management is a process encompassing many activities of investment in
assets and securities. It is a dynamic and flexible concept and involves regular and
systematic analysis, judgment and action. The objective of this service is to help
the unknown and investors with the expertise of professionals in investment
portfolio management. It involves construction of a portfolio based upon the
investor’s objectives, constraints, preferences for risk and returns and tax liability.
The portfolio is reviewed and adjusted from time to time in tune with the market
conditions. The evaluation of portfolio is to be done in terms of targets set for risk
and returns. The changes in the portfolio are to be effected to meet the changing
condition.

Portfolio construction refers to the allocation of surplus funds in hand among a

variety of financial assets open for investment. Portfolio theory concerns itself with
the principles governing such allocation. The modern view of investment is
oriented more go towards the assembly of proper combination of individual
securities to form investment portfolio.
A combination of securities held together will give a beneficial result if they
grouped in a manner to secure higher returns after taking into consideration the risk
elements.

The modern theory is the view that by diversification risk can be reduced.
Diversification can be made by the investor either by having a large number of
shares of companies in different regions, in different industries or those producing
different types of product Slines. Modern theory believes in the perspective of
combination of securities under constraints of risk and returns.

WEALTH MANAGEMENT PROCESS:

Wealth management is a systematic process in which a wealth manager analyzes
the client’s needs, provides advice to the client regarding the various options
available and reviews the process. There are six steps in wealth management are as
follows:
Step 1: Gathering the data
I. Asking the right questions is the first step in creating an effective wealth
management plan
II. The wealth manager is expected to collect data regarding the client’s
financial position, income, objectives, expenditure, risk taking ability and
tolerance, liquidity requirements, etc.
III. The wealth manager collects sufficient information that is to be analysed in
order to arrive at clear goals and objectives of the client.
IV. Some of the areas to be considered that help the wealth manager to prepare a
balance sheet for the assets and liabilities of the client are.

Step 2: Define the terms of engagement

The terms of engagement i.e. the services and fees of the wealth manager is
formalized in a Memorandum Of Understanding consisting of:

I. Details of responsibilities of each party

II. Compensation and time frame
III. Conflict of interest

Step 3: Identification of needs

I. The wealth manager identifies the short and long term goals for his clients
based on his priority for life style, wealth transfer and expectation.
II. The wealth manager also assesses the risk taking ability and financial
capacity of a client offer the best solutions.
III. The wealth manager sets SMART goals for his clients i.e. Specific,
Measurable, Achievable, Realistic, and Time Bound
IV. A wealth manager identifies the gaps between the currant situation and the
set goals to help the client to achieve his objectives in long run.

Step 4: Report preparation

I. A detailed of assets allocation is done at this stage to create an appropriate
asset mix that helps to achieve the goals in a way the client is comfortabale
level of risks.
 II. In order to understand the factors associated with each investment
alternetives, a SOWT analysis is conducted i.e. an analysis of Strength,
Opportunities, Weakness, Threats.
III. Portfolis are invested between equity and debt instruments.
IV. Alternative investments includes private equity, hedge funds, etc. that
maintain healthy diversification within each asset class to spread the risk.
V. The analysis and recommendation of wealth manager consisting of the
investment objectives, risk factors and disclosures are presented in a written
report.

Step 5: Implementation of strategies

I. Once the strategy is finalized and all the asset allocations have been agreed
upon, the plan is executed.
II. All the suggested investment under debt, equities and alternatives
investments are carried out as dedicated.
III. The execution of the plan may take several months depending on the market
conditions.
IV. For eg: The investment in equity markets can be delayed if the equities are
expected to fall.

Step 6: Periodic review and monitoring

I. Wealth management requires regular reviewing of the plan.
II. Identify changes in the client circumstances and any external factors that
affect the financial plan. Communicate about same to the client.
III. Keep a track of the following
 Changing tax and economic environment
 Changes in the profile of the client
 Changes in life circumstances of the client
 Reviewing of estate planning
 Changes in risk tolerance level of the client
Difference types of investment avenues
 Investment Avenues
Investment Avenues are different ways that you can invest your money.

Following investment avenues that are considered in this report are as follows:

1. Saving Account 9. Debentures

2. Bank Fixed Deposit 10. Bonds
3. Public Provident Fund 11. Equity Share Market
4. National saving Certificate 12. Commodity Market
5. Post Office Saving 13. FOREX Market
6. Government Securities 14. Real Estate(property)
7. Mutual Funds 15. Gold
8. Life Insurance 16. Chit Funds

All Investments Avenues are explained below:

Bank Deposits:
Bank deposits consist of money placed into banking institutions for safekeeping.
These deposits are made to deposit accounts such as savings accounts, checking
accounts and money market accounts. The account holder has the right to withdraw
deposited funds, as set forth in the terms and conditions governing the account
agreement.

Bank Fixed Deposit:

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which
provides investors with a higher rate of interest than a regular savings account,
until the given maturity date. It may or may not require the creation of a separate
account. It is known as a term deposit or time deposit They are considered to be
very safe investments. The defining criteria for a fixed deposit is that the money
cannot be withdrawn from the FD as compared to a recurring deposit or a demand
deposit before maturity. Some banks may offer additional services to FD holders
such as loans against FD certificates at competitive interest rates. It's important to
note that banks may offer lesser interest rates under uncertain economic conditions.
The interest rate varies between 4 and 11 percentThe tenure of an FD can vary
from 7, 15 or 45 days to 1.5 years and can be as high as 10 years

Public Provident Fund:

Public Provident Fund (PPF) scheme is a popular long term investment option
backed by Government of India which offers safety with attractive interest rate and
returns that are fully exempted from Tax .Investors can invest minimum Rs. 500 to
maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan,
withdrawal and extension of account.

National Saving Certificate:

National Savings Certificates, popularly known as NSC, is an Indian
Government Savings Bond, primarily used for small savings and income tax
saving investments in India. ... The holder gets the tax benefit under Section 80C
of Income Tax Act, 1961.

Post Office Saving:

Postal savings systems provide depositors who do not have access to banks, a safe
and convenient method to save money. Many nations have operated banking
systems involving post offices to promote saving money among the poor.

Government Securities:
A government security is a bond issued by a government authority with a promise
of repayment upon maturity. Government securities such as savings bonds,
treasury bills and notes also promise periodic coupon or interest payments. These
securities are considered low-risk, since they are backed by the taxing power of the
government.

Mutual funds:
A mutual fund is an investment vehicle that is made up of a pool of funds collected
from many investors for the purpose of investing in securities such as stocks,
bonds, money market instruments and similar assets. Mutual are operated by
money managers, who invest the funds capital and attempt to produce capital gains
and income for the funds investors. A mutual fund portfolio is structured and
maintain to match the investment objectives stated in prospectus.
Life Insurance:
Life insurance is a protection against the loss of income that would result if the
insured passed away. The named beneficiary receives the proceeds and is thereby
safeguarded from the financial impact of the death of the insured. The goal of life
insurance is to provide a measure of financial security for your family after you
die. So, before purchasing a life insurance policy, you should consider your
financial situation and the standard of living you want to maintain for your
dependents or survivors

Debentures and Bonds:

A debenture is a type of debt instrument that is not secured by physical

assets or collateral. Debentures are backed only by the general creditworthiness

and reputation of the issuer. Both corporations and governments frequently issue
this type of bond to secure capital. Like other types of bonds, debentures are
documented in an indenture. There are 2 types of debentures: Convertible and
nonconvertible. A bond is a debt investment in which an investor loans money to
an entity (typically corporate or governmental) which borrows the funds for a
defined period of time at a variable or fixed interest rate. Bonds are used by
companies, municipalities, states and sovereign governments to raise money and
finance a variety of projects and activities.

Equity Share Market:

Equity market one of the most vital areas of a market economy because it gives
companies access to capital and investors a slice of ownership in a company with
the potential to realize gains based on its future performance. equity market can be
either public stocks, which are exchange, or privately traded stocks.

The securities traded in the those listed on the stock

Commodity Market:
A physical or virtual marketplace for buying, selling and trading raw or primary
products. For investors' purposes there are currently about 50 major commodity
markets worldwide that facilitate investment trade in nearly 100 primary
commodities.
Commodities are split into two types: hard and soft commodities. Hard
commodities are typically natural resources that must be mined or extracted (gold,
rubber, oil, etc.), whereas soft commodities are agricultural products or livestock
(corn, wheat, coffee, sugar, soybeans, etc.)

FOIREX Market:
FOREX is the market in which currencies are traded. The FOREX market is the
largest, most liquid market in the world, with average traded values that can be
trillions of dollars per day. It includes all of the currencies in the world. There is no
central marketplace for currency exchange; trade is conducted over the counter.
FOREX transactions take place on either a spot or a forward basis

Real Estate:
Real estate is property comprised of land and the buildings on it, as well as the
natural resources of the land, including uncultivated flora and fauna, farmed crops
and livestock, water and mineral deposits. Although media often refers to the "real
estate market," from the perspective of residential living, real estate can be grouped
into three broad categories based on its use: residential, commercial and industrial.
Examples of residential real estate include undeveloped land, houses,
condominiums and town houses; examples of commercial real estate are office
buildings, warehouses and retail store buildings; and examples of industrial real
estate include factories, mines and farms.

Gold:
Gold is a chemical element with symbol Au and atomic number 79. In its purest
form, it is a bright, slightly reddish yellow, dense, soft, malleable, and ductile
metal. Chemically, gold is a transition metal and a group 11 element.

Chit Funds:
A Chit fund is a kind of savings scheme practiced in India. A chit fund company is
a company that manages, conducts, or supervises such a chit fund, such chit fund
schemes may be conducted by organized financial institutions, or may be
unorganized schemes conducted between friends or relatives. In some variations of
chit funds, the savings are for a specific purpose.
FINANCIAL PLANNING OF WEALTH
MANAGEMENT
Everyone has needs and aspirations. Financial Planning is an approach to assess
the adequacy of income and assets of a person to meet the financial requirements
for fulfillment of these needs and aspirations.

The role of financial planning has been increasing in the market because:

Needs and aspirations of people are ever-increasing. This increases the financial
challenge that people face. Investors need to be counseled on the

difference between needs (essentials) and wants (desires). Prioritization of

expenses is critical for people who are struggling to make both ends meet.

Joint families are giving way to nuclear families. The nuclear family stays in a
separate house. The rentals or the acquisition cost of a house, are an important
financial need to plan for.

In a nuclear family, the individual is responsible for his immediate family. The
extended family, staying under a different roof, cannot be expected to support the
regular financial needs of the individual.

The period of earning for individuals is reducing, while the longevity (life span)
of people is increasing. This means that incomes earned over a shorter time period
need to finance the needs over a longer period of time. Hence the need for
retirement planning.

Income levels are going up. Higher investible surplus needs to be invested
prudently for the future. Hence the need for professional financial planning advice.

The financial assets and liabilities that are available in the market for various
needs are getting more and more complex. It is difficult for a layman to have a
comprehensive understanding of these financial products.

Tax provisions keep changing. People need to plan their taxes and ensure that
they take full benefit of the concessions available. This has opened the doors for
professional tax advisers.

Increasing complexities in family structure can create problems while transfer

wealth to the next generation. Therefore, estate planning is important.
A professional financial planner helping individuals navigate these challenges is an
important member of our society. The role and influence of financial planners is
bound to grow in India.

Kind of Financial Planning

There are two approaches to financial plan:

1. Goal based Financial Plan

The goal-based financial plan can get more complex, when we provide for multiple
goals, with a different asset allocation for each goal, and different projected returns
for each asset class. Goal-based financial plans are a usual starting point for the
investor- planner relationship.

2. Compressive Financial Plan

A comprehensive addresses the above limitations of a goal-based financial plan. It
provides complete information on the overall financial position of the investor, and
how the financial goals will be met periodically. Multiple formats of
Comprehensive Financial Plan are possible, for various situations.

Role of Financial Planner/ Wealth Manager

The financial planner’s fundamental role is to ensure that the investors have
adequate money/ wealth for various financial needs/ goals.

While performing this role, financial planners offer some or all of the following
services:

Preparing a financial blue print for the investors future

Advice on investment in share market

Advice on investment in small savings schemes and other debt instruments

Advice on investment in mutual funds and other investment products

Suggesting a suitable asset allocation based on risk profile of the investors

Management of loans and other liabilities

Insurance planning and risk management

Tax planning

Planning for smooth inheritance of wealth to the next generation.

Life Cycle
People go through various stages in the life cycle, such as:

 Young and unmarried

Young and married, with no children

Married and having young children

Married and having older children

Retirement

Position on the life cycle determines the kinds of challenges the investors is likely
to face and therefore the approach to financial planning.

For instance, younger investors have the entire earning cycle ahead of them. Their
insurance needs will be high. Those with dependents need to have adequate life
insurance to protect the family against untimely demise.

At a young age, saving and spending habits are formed. Systematic Investment
Plans (SIPs) are a good way to ensure that the investor does not fritter away any
money. They need to be educated on how starting saving early ensures a
comfortable future.

Parents with young children need to prepare for sudden significant outflow, for
education or marriage or such other requirement of children. They also need to
plan for their retirement, not only in terms of financial assets, but also corporate
perks that may not be available in future, such as medical re-imbursement,
accommodation, car, club facilities etc.
On retirement, if salary or business earnings were to stop, then investors need to be
cautious in taking risks. At a younger age, the investors can take greater risk. Asset
Allocation is a key decision across the life cycle of the investors.

Wealth Cycle
As with life cycle, the position of the investor on the wealth-cycle changes over
time. The key stages are:

1. Accumulation

2. Distribution

3. Transition

4. Windfall Gain

5. Inter-generation Transfer

Systematic Approach to Investing

In the long term, equity share prices track corporate performance. More profitable
a company, higher is likely to be its share price. However, in shorter time frames,
the market is unpredictable. Market fluctuations are a source of risk for investors.
Over the period of time equity has given a better return than any other source of
investment

s. Hence it is the major investment avenue in wealth management. Because of this

reason investors are advised to take a systematic approach to investing. This can
take any of the following forms:

1. Systematic Investment Plan (SIP)

Systematic Investment Plan is an investment strategy wherein an investor needs to
invest the same amount of money in a particular mutual fund at every stipulated
time period. Though an SIP, an investor commits to invest a constant amount
periodically.
2. Systematic Withdrawal Plan (SWP)
SWP refers to Systematic Withdrawal Plan which allows an investor to withdraw a
fixed or variable amount from his mutual fund scheme on a preset date every
month, quarterly, semi annually or annually as per his needs.

3. Systematic Transfer Plan (STP)

STP refers to the Systematic Transfer Plan whereby an investor is able to invest
lump sum amount in a scheme and regularly transfer a fixed or variable amount
into another scheme.

Risk Profiling
In Risk Profiling Investor data analysis including positioning on the Life Cycle and

Wealth Cycle which will suggest the investor’s risk profile. Planners classify their
investors into groups, such as:

Extremely Risk Averse

Moderately Risk Averse

Risk Neutral

Moderately Risk Oriented

Extremely Risk Oriented

The more risk oriented investor is having greater risk so the exposure that can be
suggested to risky assets. In general, equity is viewed as the risky asset, while debt
is considered the safer asset. Gold protects the portfolio in extremely adverse
situations, where both debt and equity under-perform. Real estate is an illiquid
asset that can grow over time, and also give rental income. Debt, Equity, Gold and
Real Estate are asset classes.

Asset Allocation
Different asset classes perform well in varied economic and market scenarios. The
analyst seeks to interpret the leading indicators and anticipate likely market
trajectory. However, it is not possible to predict the market with certainty. An
approach to balance the uncertainty is to invest in a mix of asset classes. This
ensures that some asset classes in the portfolio perform well, when others don’t.
Such distribution of investment portfolio between asset classes is “asset allocation”

Types of Asset allocation

Strategic Asset Allocation: -
Distribution between asset classes based on risk profile of investor is called
Strategic asset allocation’. Let us consider a few examples:

A young investor, who is in the accumulation phase, can afford to take more risk.
Even if he were to lose money, he can recover it from future earnings. Besides, he
is exposed to inflation over a long period. His portfolio needs to have risky growth
assets that are likely to protect him from inflation. Such an investor may be advised
to have an equity-debt mix of 80:20.

A senior citizen is exposed to inflation too. However, the exposure is for a shorter
time period determined by life expectancy. Besides, the senior citizen may not
have a future earnings stream to make up for losses. The physical health of the
person too may or may not be in a position to handle the shock of

investment losses. These factors mandate a significantly lower exposure to risky

assets. Equity-Debt mix of 20:80 is quite common for such investors.

Tactical Asset Allocation: -

Investors who are oriented to take risk do take asset allocation calls based on their
views of the market. When they fell the market is undervalued they increase their
exposure to equity. They exit their equity investment when the view is that the
market is overheated. Such an approach to investment is called ‘Tactical Asset
Allocation’.

Fixed Asset Allocation: -

An investor who practices fixed asset allocation will seek to maintain the
allocation even when the market moves.
Suppose an investor’s portfolio is structured with equity to debt mix of 30:70. In a
short period, if the equity market were to go up by 70%, 30 will become 51.
During this phase, if debt gave a 5% return, 70 would have become 73.5. Thus, the
equity- debt mix has now become 51: 73.5, which can be re-written as 41:59. The
complexion of the portfolio has changed.

Most mutual fund schemes operate with a fixed asset allocation, though within a
wide investment range defined in the Offer Document. For instance, the proposed
investment distribution may be defined in the Offer Document as follows:

Equity and equity related securities 70 – 90%

Debt and debt related securities 10 – 30%

Flexible Asset Allocation:-

Let us continue with the previous example of investor with Equity: Debt mix of
30:70, which changed to 41:59 when the market changed. We saw that an investor
adopting fixed asset allocation will re-balance his portfolio to arrive at the targeted
equity: debt mix. An investor who adopts flexible asset allocation will allow the
equity: debt ratio to drift. There will be no re-balancing in line with the market;
this kind of lazy approach to investment is not desirable.

Portfolio Management Services (PMS)

PMS is an investment facility offered by financial intermediaries to larger
investors. The PMS provider keeps receiving money from investors. Unlike mutual
funds, which maintain their investment portfolio at the scheme level, the PMS
provider maintains a separate portfolio for each investor. The cost structure for
PMS, which is left to the PMS provider, can be quite high. Besides a percentage on
the assets under management, the investor may also have to share a part of the
gains on the PMS portfolio; the losses are however borne entirely by the investor.
PMS have an unconstrained range of investments to choose from. The limits, if
any, would be as mentioned in the PMS agreement executed between the provider
and the investor.

Financial Planning in India

Mutual Fund distributors and others involved in selling or distributing mutual
funds need to pass the prescribed examination before they can start selling mutual
fund schemes. However, no such requirements have been set for financial planners
and wealth advisers.

Securities & Exchange Board of India (SEBI) has come out with a concept paper
on the proposed regulatory structure for investment advisers. The highlights are as
follows:

There is an inherent conflict of interest between a distributor earning a

commission as agent of a product manufacturer (such as a mutual fund) and
performing the role of financial adviser claiming to protect the investor’s interests.

The proposed model to tackle this conflict of interest is as follows:

The person who interfaces with the customer should declare upfront whether he
is a financial advisor or an agent of the companies.

Advisers should be governed

They should be subject to Investment Advisors Regulations.

Advisors should acquire higher level of qualifications.

They may act as advisor to investor for multiple financial products.

They will receive all payments from the investor. There would be no limits set on
these payments.

Financial Planning to Wealth Management

Financial planning seeks to ensure adequacy of assets and cash flows for meeting
the financial goals of the Investor. In the case of a wealth management Investor,
adequacy of assets is not an issue. The Investor will have the assets, though cash
flow (liquidity) can be an issue if not suitably invested.

A wealth manager seeks to understand what the Investor wants with the wealth viz.
grow the wealth with an openness to take risk; or consolidate the wealth with a
conservative approach to risk; or preserve the wealth while avoiding risk to the
extent possible. Different asset allocation mix would be appropriate for each of
these profiles. Wealth Management deals with creation, accumulation, preservation
and enjoyment of wealth.
Wealth Management in India
India’s wealthy are relatively young compared with their international counterparts
and, hence, take a different approach to wealth management. The demographic
difference presents an opportunity to create new products to address the needs of a
young population and leverage new technologies, such as social- and mobile-
enabling investing applications as a key differentiator. India’s wealth management
services sector is largely fragmented, which isn’t surprising given the industry is
still in its early days. Hence, it is recommended that firms take a long-term view
while evaluating potential return on investment. Given the market and a
demographic and regulatory environment that is significantly different from
elsewhere in the world, we recommend wealth managers consider the following to
succeed in the Indian market:

Build your brand and focus on overcoming the trust barrier.

Invest in advisor technology to improve advisor productivity and retention.

Evaluate a partnership-based model, coupled with innovative use of technology,

to increase reach.

Focus on transparency and compliance, while targeting customers with attractive,

segment focused products.

Though wealth management is a new concept for India, some companies are
started

working in this direction. Here is list of some companies:

1.ICICI Asset Management Company

2.HDFC Asset Management Company

3.Reliance Asset Management Company

4.UTI Asset Management Company

5.Birla Sun Life Asset Management Company

6.Kotak Mahindra Asset Management

7. Religare Asset Management Company

8. Tata Asset Management Company

9. Franklin Templeton

10. L & T Finance Limited

11. BNP Paribas Asset Management Company Limited

12. Morgan Stanley STBF

13. Sundaram Asset Management Company

14. Axis Asset Management Company

15. Bajaj Holdings or Bajaj Capital

16. Motilal Oswal Asset Management Company

17. Edelweiss Asset Management Limited

18. Muthoot Asset Management Company

Some are Indian companies whereas some are foreign companies who have started

giving guidance on wealth management to customers.

PERSON INVOLVED IN WEALTH MANAGEMENT
1) INVESTOR:
Are the people who are interested in investing their funds?

2) WEALTH MANAGERS:
Is a person who is in the wake of a contract agreement with a client, advices or
directs or undertakes on behalf of the clients, the management or distribution or
management of the funds of the client as the case may be.

3) DISCRETIONARY WEALTH MANAGER:

Means a manager who exercise under a contract relating to a portfolio
management exercise any degree of discretion as to the investment or
management of portfolio or securities or funds of

WHO CAN BE A WEALTH MANAGER?

Only those who are registered and pay the required license fee are eligible to
operate as portfolio managers. An applicant for this purpose should have
necessary infrastructure with professionally qualified persons and with a
minimum of two persons with experience in this business and a minimum net
worth of Rs. 50lakh’s. The certificate once granted is valid for three years. Fees
payable for registration are Rs 2.5lakh’s every for two years and Rs.1lakh’s for the
third year. From the fourth year onwards, renewal fees per annum are Rs 75000.
These are subjected to change by the S.E.B.I.

The S.E.B.I. has imposed a number of obligations and a code of conduct on them.
The portfolio manager should have a high standard of integrity, honesty and
should not have been convicted of any economic offence or moral turpitude. He
should not resort to rigging up of prices, insider trading or creating false markets,
etc. their books of accounts are subject to inspection to inspection and audit by
S.E.B.I... The observance of the code of conduct and guidelines given by the
S.E.B.I. are subject to inspection and penalties for violation are imposed. The
manager has to submit periodical returns and documents as may be required by
the SEBI from time-to- time.

FUNCTIONS OF WEALTHMANAGERS:
Advisory role: Advice new investments, review the existing ones, identification of
objectives, recommending high yield securities etc.

Conducting market and economic service: This is essential for recommending

good yielding securities they have to study the current fiscal policy, budget
proposal; individual policies etc further portfolio manager should take in to
account the credit policy, industrial growth, foreign exchange possible change in
corporate law’s etc.

Financial analysis: He should evaluate the financial statement of company in order

to understand, their net worth future earnings, prospectus and strength.

Study of stock market : He should observe the trends at various stock exchange
and analysis scripts so that he is able to identify the right securities for investment

Study of industry: He should study the industry to know its future prospects,
technical changes etc, required for investment proposal he should also see the
problem’s of the industry.

Decide the type of port folio: Keeping in mind the objectives of portfolio a
portfolio manager has to decide whether the portfolio should comprise equity
preference shares, debentures, convertibles, non-convertibles or partly
convertibles, money market, securities etc or a mix of more than one type of
proper mix ensures higher safety, yield and liquidity coupled with balanced risk
techniques of portfolio management.

A portfolio manager in the Indian context has been Brokers (Big brokers) who on
the basis of their experience, market trends, Insider trader, helps the limited
knowledge persons.

The one’s who use to manage the funds of portfolio, now being managed by the
portfolio of Merchant Bank’s, professional’s like MBA’s CA’s And many financial
institution’s have entered the market in a big way to manage portfolio for their
clients.

According to S.E.B.I. rules it is mandatory for portfolio managers to get them self’s
registered.

Registered merchant bankers can act’s as portfolio managers. Investor’s must

look forward, for qualification and performance and ability and research base of
the portfolio managers.

NEED AND ROLE OF WEALTH MANAGER:

With the development of Indian Securities market and with appreciation in
market price of equity share of profit making companies, investment in the
securities of such companies has become quite attractive. At the same time, the
stock market becoming volatile on account of various facts, a layman is puzzled as
to how to make his investments without losing the same. He has felt the need of
an expert guidance in this respect. Similarly non resident Indians are eager to
make their investments in Indian companies. They have also to comply with the
conditions specified by the RESERVE BANK OF INDIA under various schemes for
investment by the non residents. The portfolio manager with his background and
expertise meets the needs of such investors by rendering service in helping them
to invest their fund/s profitably.

WEALTH MANAGER’S OBLIGATION:

The portfolio manager has number of obligations towards his clients, some of
them are:

He shall transact in securities within the limit placed by the client himself with
regard to dealing in securities under the provisions of Reserve Bank of India Act,
1934.

He shall not derive any direct or indirect benefit out of the client’s funds or
securities.
He shall not pledge or give on loan securities held on behalf of his client to a third
person without obtaining a written permission from such clients.

While dealing with his client’s funds, he shall not indulge in speculative
transactions.

He may hold the securities in the portfolio account in his own name on behalf of
his client’s only if the contract so provides. In such a case, his records and his
report to his clients should clearly indicate that such securities are held by him on
behalf of his client.

He shall deploy the money received from his client for an investment purpose as
soon as possible for that purpose.

He shall pay the money due and payable to a client forthwith.

He shall not place his interest above those of his clients.

He shall not disclose to any person or any confidential information about his
client, which has come to his knowledge.

He shall endeavor to:

o Ensure that the investors are provided with true and adequate information
without making any misguiding or exaggerated claims.

o Ensure that the investors are made aware of the attendant risks before any
investment decision is made by them.

o Render the best possible advice to his clients relating to his needs and the
environment and his own professional skills.

o Ensure that all professional dealings are affected in a prompt, efficient and cost
effective manner.

COORDINATION WITH RELATING AUTHORITIES:

The portfolio manager shall designate a senior officer as compliance offer.
The senior officer:

Shall coordinate with regulating authorities regarding various matters.

Shall provide necessary guidance to and ensure compliance internally by the

portfolio manager of all Rules, Regulations guidelines, Notifications etc. issued by
SEBI, government of India and other regulating authorities.

Shall ensure that observations made/ deficiencies pointed out by SEBI in the
functioning of the portfolio manager do not recur.

DEFAULTS AND PENALTIES:

The following aspects must be kept in view:

Liabilities for action in case of default - A portfolio manager is liable to penalties if

he:

1.Fails to comply with any conditions subject to which certificate of registration

has been granted.

2.Contravenes any of the provisions of the SEBI act, its Rules and Regulations.

In such a case, he shall be liable to any of the following penalties, after enquiry-

1. Suspension of registration for a specific period.

2. Cancellation of registration.
 CHAPTER 2

RIVEW OF LITERATURE
elmurugan et al (2015)

conclude that investment done in various investment avenues with the expectation
of capital appreciation and short and long term earnings. The basic idea behind
investment of all government, private, self-employed and retired person in this
study is to utilize the surplus money in favorable plans so that the money will be
rolled back as well as it will give high returns also. When a common men thinks
about investment he will never go for any risky plan. In the present scenario the
share and gold market is highly uncertain and unpredictable, so the investor should
analyze the market cautiously and then make investment decision.

Wyman et al (2014)
says that digital is a threat to established participants in wealth management.
Younger, technologically-savvy investors have a greater comfort level with self-
directed investing than the older generation of today. These investors have also
grown up in a world where young companies routinely disrupt older companies—
and often create entirely new industries. As a result, the next generation of
investors is likely to have a greater openness to directing their savings to entities
that rely on new models and different technologies—all at lower cost—than
established wealth managers. But there are also digitally-oriented opportunities for
established wealth managers to deepen their connection with investors through the
use of enhanced communications platforms, while also improving the overall
investor experience. Significantly, technology can also be harnessed to reduce
operating costs—savings that can be passed along as lower fees to investors.

Nayak (2013)
in his report says that there has been a significant change in the levels and density
of savings pattern of the rural households because of the increase in saving
opportunities available with a convenient bar. The increase in the financial
institutions like banks, micro finance institutions, SHGs and other local banks
provided an opportunity to the rural people to save more. The increase in
awareness among the people for their future security as through the unforeseen
cases like sudden death of a family member, medical emergency and any other
financial crisis, education of their children, marriage of a family member has made
people inclined to save. The degree of change in savings as compared to urban
communities of the rural
households are not much but still has brought a revolution in the pattern of savings
of the rural households.

Schröder (2013)
analyze the responses to a represent survey of wealth advisors on private wealth
management practices, and compares the advisors’ views to academic research in
household finance. This study demonstrates that many wealth managers do not
apply novel insights proposed by financial economists when advising their
investors. Many practitioners focus on managing only the market risk exposure of
their investors’ portfolios. Although financial research has stressed the importance
of incorporating human capital, planned future expenditures and the investment
time horizon into the investor’s asset allocation, these aspects are neglected by
most practitioners.

Cognizant Reports (2011)

published a report which says that India’s wealth management services sector is
largely fragmented, which isn’t surprising given the industry is still in its early
days. Most organized players have so far focused mainly on the urban segment,
leaving untapped about one-fifth of India’s high net worth individuals (HNWI)
population. While early entrants and established local players have gained trust
with potential investors, firms looking to enter the market will need to invest
heavily in brand-building exercises to convey their trustworthiness. Hence, it is
recommended that firms take a long-term view while evaluating potential return on
investment. The overall outlook and trends in India indicate a huge potential for
growth for new and established wealth management firms.

Lucarelli et al (2011)
in this paper proposes a theoretical framework which sets alternative business
models (BMs) in the wealth management industry, testing them with experimental
data. Our “map” of business models arises when wealth managers

(WMs) potentially make a mix of business process standardization/customization,

together with ‘make or buy choices’, after an external and internal strategic
analysis has been carried out. Operational data support that our business models
map can be a reliable instrument both to describe and to guide the strategic
position of WMs.
Sharma (2008-2010)
concluded that Indian investors are very conservative and less risk taker. They
prefer to invest their money into safe securities even they know that they will get
the less return on the investment and may be possible that they could not

cover up the inflation rate but still they prefer to invest in these securities. This is
not because they all are risk averse or they don’t want to get more return but it is
because of lack of knowledge and lack of expertise services in small cities.
Investors are not getting the expert’s services because they are not aware of such
kind of services.

Nita et al (2009)
examines the features of private banking business focusing on the substantial
growth in private banking over the last decade as commercial banks have targeted
up market high net worth individuals. The accumulation of wealth has prompted
the development of private banking services for high net worth individuals,
offering special relationships and investment services. Private banking is about
much more than traditional banking services of deposits and loans. These kinds of
services include: Protecting and growing assets in the present, providing
specialized financing solutions, planning retirement and passing wealth on to
future generations.

Pang et al (2009)
says that wealth management strategies for individuals in retirement, focusing on
trade-offs regarding wealth creation and income security. Systematic withdrawals
from mutual funds generally give opportunities for greater wealth creation at the
risk of large investment losses and income shortfalls. Fixed and variable life
annuities forgo bequest considerations and distribute the highest incomes. A
variable annuity with guaranteed minimum withdrawal benefit (VA GMWB)
somewhat addresses both income need and wealth preservation. Mixes of mutual
funds and fixed life annuities deliver solutions broadly similar to an even more
flexible than a VA GMWB strategy.
Caselli et al(2005)
explains the segment of banking services that focus on families and family-owned
businesses, within the private banking business, by examining synergies among the
various financial integrated activities and by offering ideas on how to develop new
business opportunities.
 CHAPTER 3

RESEARCH METHODOLOGY
Research Methodology is the systematic and theoretical analysis of the methods
applied to a field of study. It involves qualitative and quantities techniques. In
other words, it is a process used to collect information and data for the purpose of
the making business decisions.

This part aims to understand the research methodology establishing a framework of

evaluation and revaluation of primary and secondary research.

Title of study
“A Study of Awareness & Knowledge about Wealth Management

among Individuals”

Research Objective
1. To know the awareness among individual for Wealth Management.

2. To figure out the popular source of investment avenue.

3. Percentage up to which individuals is ready to save at how much risk.

Research Design
Data Collection Survey through Questionnaire

Type of Data Primary data

Sample Area Individual equal and above the age young

Research Instruments Questionnaire & Personal Interview

Type of Questionnaire Structured

Statistical Charts used Pie Charts, Column & bar Graphs

Sample Size 63

Sampling Technique Convenient Sampling

Limitation
The limitations of the study are those characteristics of design or methodology that

Impact or influenced the interpretation of the findings from your research.

1. Sample size may not complete representative the universe.

2. Completely relying on the data provided by individual through questionnaire.

3. A failure to use a random sampling technique significantly limits the ability to

make broader generalizations from results.

4. Less geographical reach.

5. Man Power constraint.

6. Lack of face to face communication as large number of survey is done through

google forms.

7. Lack of time to study the border concept.

Demographic Analysis
Demographics are characteristics of a population. Characteristics such as race,
ethnicity, gender, age, education, profession, occupation, income level and marital
status, are all typical examples of demographics that are used in surveys.
1. Analysis of gender
Female 24
Male 39

38%

female
62%
male

Form the above table shows that 38%respondent are female and 62% respondent
are male.

2. Family structure
Nuclear 39
Joint 24

38%

Nuclear
62%
Joint
Form the above graph shows that 38% respondent belongs to joint family and 62%
respondent belongs to Nuclear family

3. Annual Income ( in Rs)

Up to 2,00,000 16
2,00,000 - 5,00,000 23
5,00,000 – 10,00,000 16
10,00,000 – 25,00,000 7
More than 25,00,000 1

2%

11% 25%
Up to 2,00,000
25% 2,00,000-5,00,000
5,00,000-10,00,000
37% 10,00,000-25,00,000
More than 25,00,000

The above graph shows that 25% respondents earns around up to Rs. 2,00,000 per
year. 37 % respondent earns Rs. 2,00,000 to Rs. 5,00,000 per year. 25% respondent
earn Rs. 5,00,000 to Rs. 10,00,000 per year .and more than 25,00,000 is 1%.

4. Stage of Life Cycle

Young and unmarried 27
Young and married, with no children 6
Married and having young children 21
Married and having older children 6
Retirement 3
 young and unmarried
5%

10% young and married with

43%
no children

33% married and having young

children
9%
married and having older
children
retirement

Form the above graph that 43% respondents are from young and unmarried. 33%
respondents are married and having young children.9% respondents are from
young and married, with no children. 10% having married and older children

5. Sector in which they are employed

Government Sector 14
Private Sector 26
Business 11
Professional 5
Home Maker 4
Others 3

Government Sector Private Sector Business

Professional Home Maker Others

6% 5% 22%
8%

18%

41%
The above table represent that 41% works in private sector. 18% work in their own
business. 22% are government employees. 11 % are home maker and others.

6. Years they are working in profession

Less than 2 years 24
2-5 years 13
5-10 years 8
10-20 years 4
20-30 years 5
More than 30 years 9

14% Less than 2 years

8% 38%
2-5 years
6%
5-10 years
13%
10-20 years
21%
20-30 years
More than 30 years

The above graph represent 38% respondents are working less than 2 years. 21%
respondents are working from 2-5 years. 13% are working from 5-10 years. 14%
respondents are working from more than 30 years. 14% respondents are working in
between 10-30 years.
 CHAPTER 3

ANALYSIS AND INTERPRETATION

 1. Do you have proper financial planning?

35

30

25

20

15

10

0
yes no
series 1 35 28

Interpretation:
The above data shows that 56% of surveyed respondents have proper financial
planning of their income; the remaining 35% respondents do not have proper
financial planning which is an issue in this fast growing economy.

2. Do you consult any Financial Planner?

45
40
35
30
25
20
15
10
5
0
yes no
series 1 20 43
Interpretation:
By the above data shows that around 32% of respondents consult financial planner
whereas 68% proportion of respondents do not consult any financial planner which
might lead to inefficient wealth management.

3. What kind of financial plan you opt for?

33
32.5
32
31.5
31
30.5
30
29.5
29
28.5
Goal-based Financial Comprehensive
Plan Financial Plan
series 1 33 30

Interpretation:
This graph can be interpreted as 52% of respondents preferred goal based financial
planning whereas 48% respondents opts for comprehensive plan as their financial
planning..

4. Do you have systematic approach to investing?

 30

25

20

15

10

0
yes no not sure
series 1 20 15 28

Interpretation:
This graph shows that how much respondents knows about systematic approach of
investment. 44% of respondents said that either they are not sure about it or they
do not know anything about systematic investment approach, whereas 32%
respondents said yes and 24% respondents said no.

5. If yes, than which plan you have invested?

16
14
12
10
8
6
4
2
0
SIP SWP STP
series 1 16 4 0
Interpretation:
In this graph only those respondents who said yes in previous question are
examined in this and 80% responses have SIP as their systematic approach to
investment and remaining 20% invested in SWP, there is no responses in STP
which means people either do not know about it or not invest in this

6. What percent of income you invest (save)?

25

20

15

10

0
less than 5%-15% 15%-25% 25%-30% more than
5% 30%
series 1 11 21 16 10 5

Interpretation:
The graph shows that 33% of respondents save around 5 to 15% of their total
income. 25% respondents save 15 to 25%. 18% respondents save less than 5%
whereas 16% respondents save around 25 to 30%. Only 8% respondents save more
than 30% of their total income

7. What is your risk profiling?

 35
30
25
20
15
10
5
0
Extremly Moderate Risk Moderate Extremly
risk ly risk NEUTRAL ly risk risk
averse averse oriented oriented
series 1 5 11 34 11 2

Interpretation:
54% of respondents go for neutral risk and only 3% respondents are risk oriented
at same time 8% are not take any risk in their investment.

8. Do you balance uncertainty with various asset mix

investments?

40
35
30
25
20
15
10
5
0
yes no
series 1 36 27
Interpretation:
In this graph 57 % respondents knows how to balancing uncertainty with various
asset mixes in investment where as 43% does not know how to manage
uncertainty.

9. What kind of asset allocation you will prefer?

30

25

20

15

10

0
Strategic Tactical Fixed assets Flexiable
asset asset allocation assetallocati
allocation allocation on
series 1 15 3 30 15

Interpretation:
This graph explain that 47% respondents prefer fixed asset allocation on the same
side 24% respondents prefer flexible asset allocation and strategic asset allocation
respectively and 5% respondents prefer tactical asset allocation.

10. Duration you for investment

 30

25

20

15

10

0
Short term Medium term Long term
series 1 10 30 23

Interpretation:
Time horizon is very important will investing in any investment; here 48% of the
investor prefer medium term investment, on same hand 36% investor prefer long
term investment but 16% investor prefer to invest in short term.

11. Are you aware of wealth management?

45
40
35
30
25
20
15
10
5
0
yes no
series 1 45 18
Interpretation:
71% of respondents know about wealth management where as only 29%
respondents are not aware about wealth management.

12.Do you know about portfolio management services?

33
32.5
32
31.5
31
30.5
30
29.5
29
28.5
yes no
series 1 33 30

Interpretation:
By this graph we can say that 52% of the respondents knows about the portfolio
management services where as 48% do not know about it.

13.Have you read any material on portfolio

management?
 45
40
35
30
25
20
15
10
5
0
yes no
series 1 20 43

Interpretation:
68% respondents have not studied any material on wealth management where as
32% respondents who belongs basically to related field of wealth management.
 CONCLUSION
The wealth management industry in India is poised for significant expansion, given
the favorable market landscape and expected regulatory boosts for the sector. This
provides exciting growth opportunities which will drive rapid market expansion,
coupled with an increase in the number of industry participants. To successfully
tap into these potential, financial services organizations must undertake a
customized approach, taking into account the specific variables of the Indian
market. This will need to be supported by cost-effective business model focused on
improved transparency and compliance, partnerships and efficient technology
solutions.

By survey we can say that many individual don’t know the real meaning of
wealth management as they interpret it as financial planning. Out of 63
respondents 58 respondents say that they are aware about wealth management.

Respondent prefer risk free asset to be in their portfolio like PPF, FD’s, Life
insurance, Gold etc. thus we can say that these are some popular sources other than
saving account.

On an average saving percentage give an outlook of risk that person can beer.
Low saving ratio lead to lower risk & high saving ratio lead to high risk.

Higher the return, higher the risk will be. Mutual funds though given the higher
return in long run than any other asset mix but yet not been preferred by many

of respondents, now a day SIP is more popularizing in mutual fund.

In recent years, the proliferation of wealth management products and innovative

financial services have contributed to the steady growth of wealth management as
an attractive and lucrative service sector within the financial industry around the
world. The constant forward march of technology is opening new markets in
wealth management. At the same time, rapid product development and changing
needs of the investors and globalization of businesses are posing new challenges
for the professionals in wealth management.
 REFERENCES
1. Wealth Management book of ty bms
2. www.slideshare.com
3. www.managementstudies.com
4. www.quora.com
5. Khushbu. (2016). To Study the Awareness of Wealth Management.
Retrieved from Google forms:
https://docs.google.com/forms/d/1fOew2laFQtWRT1UXOmAWycuUaa
uEMvy6FiMQtdG6 Dww/edit?usp=drive_web
6. Nayak, S. (May 2013). Determinants and Pattern of Saving Behaviour in
Rural Households of Western Odisha.
7. NCFM, N. c. (2012). Wealth Management Module. National stock
exchange of India limited.
8. Sharma, P. (2008-2010). Wealth Management Services Of HDFC Bank.
 QUESTIONNAIRE
Gender:-

Male Female

Family Structure:-

Joint Nuclear

Annual Income:-

Up to 2,00,000 2,00,000-5,00,000
5,00,000-10,00,000 10,00,000-2500,000
More than 25,00,000

Which stage of life you are?

Young and unmarried Young and married with no

children
Married and having young Married and having older
children children
Retirement

In which sector do you employed?

Government sector Private sector

Business Professional
Home Maker Others

For how many years are you in the profession?

Less than 2 years 2-5 years

5-10 years 10-20 years
20-30 years More than 30 years