What Is Wealth Management Software?

Wealth is generally divided into personal wealth, social wealth, and national wealth. Wealth management refers to the design of a comprehensive financial plan centered on the customer. By providing customers with a series of financial services such as cash, credit, insurance, and investment portfolio, the customer's assets, liabilities, and liquidity are managed to To meet the financial needs of customers at different stages, to help customers achieve the purpose of reducing risk, realizing wealth preservation, value addition and inheritance. The scope of wealth management includes: cash savings and management, debt management, personal risk management, insurance plans, portfolio management, retirement plans and estate arrangements.

Wealth management

Wealth is generally divided into personal wealth, social wealth, and national wealth. Wealth management refers to the design of a comprehensive set of customer-centric

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With the continuous growth of high net worth people, market competition is also increasing day by day. How to manage assets to maintain and increase their value is the focus of attention now, and the emergence of wealth management is a good medicine.

Financial management business in the general sense belongs to the early concept of financial management. Its marketing model is product-centric. Financial institutions (mainly commercial banks) cultivate high-quality customer loyalty through customer stratification and differentiated services to better sell. Own products; while wealth management business is customer-centric, financial institutions (commercial banks, fund companies, insurance companies, securities companies, trust companies, etc.) design corresponding products and services according to the financial needs of customers at different stages of their lives, To meet the wealth management needs of customers, these financial institutions have become long-term wealth management consultants for customers. Wealth management business is a mature wealth management business.

There are three main differences between wealth management and financial management in the general sense:

First, in essence, wealth management business is customer-centric, the purpose is to design a comprehensive financial plan for the customer to meet the customer's financial needs; and the general financial management business is product-centric, the purpose It is better to sell your own financial products.

Second, from the perspective of service providers, wealth management business is a mature financial management business with a large number of entities, not limited to the banking industry, and various non-bank financial institutions are launching wealth management services. In general, wealth management services are mostly limited to the traditional and intermediate services provided by commercial banks.

Third, from the perspective of service objects, wealth management business is not limited to the management of personal wealth, but also the asset management of enterprises and institutions. The service object is relatively wide; while the general financial management business is at an early stage of financial management business development. The introduction of a class of financial products for commercial banks in China mainly refers to the packaging of personal wealth management products of banks, and the service targets are mostly private. The three distinctive characteristics of wealth management: "customer-centric", "many service subjects" and "wide service objects" make it different from the general wealth management business and become a mature stage of wealth management services.