MBA in Wealth Management is an emerging field of study nowadays. Many institutes are providing the Master’s degree program or MBA in this field. The term Wealth Management in the present times carries a lot of importance. We see that many banks are involved in the business of Wealth Management.  We also see that the Insurance industry by every passing day becomes more and more huge. They are involved in the process of Wealth creation. In the business world also Wealth Management is the latest buzzword. In a survey, it was found that the number of Millionaires in India had increased .India has now more millionaires than China, according to the Asia pacific Wealth report.

Eligibility for doing MBA in Wealth Management

For doing MBA in Wealth Management, one must have a Bachelor’s degree from any discipline from a recognized college or institution. There may be a requirement of 50% marks in qualifying examination in some institutes or colleges.

Concept of Wealth Management

The term Wealth Management is formed of two words, namely Wealth and Management. The meaning of Management is well known to all, but the meaning of Wealth is defined here. It means assets, cash, investments or funds. Wealth Management helps us in making strategies that aims to mange, protect and distribute wealth in a planned and well coordinated manner.

Services provided by Wealth Management institutions

Trust services

• Institutional trust
• Charitable trust
• Revocable trust
• Irrevocable life insurance trust

Custodian Services

• Income collection from securities
• Payment of fund when directed
• Securities  safekeeping
• Timely settlement delivery

Retirement plan services

• Contribution plans
• Benefit plans
• Trusteeship

The following presents the advantages of Wealth Management concept

Estate Management: With the help of Wealth Management professional, we can get professional expertise to manage our estate. It helps us in protection of our estate.

Investment strategy: We can buy or sell shares or we can analyze our investment strategy for future needs.

Planning: One requires a team of professionals in future planning and for that wealth management experts are needed.

Tax planning: It helps us in minimizing tax and save more money.

Helpful for Indian economy: WM professionals can tell banks how to earn revenues from foreign countries.

Conclusion

We can see that the Wealth Management professional can guide people into managing their Wealth. But this applies to only the higher section of the society. And also the chances of fraud also exist. So, the person should do a SWOT analysis before choosing a Wealth Management scheme. So, we can easily say that the Wealth Management course does help an individual to manage his/her finances. Since, he/she has a lot of knowledge about the market.