Wealth management is a general term describing the discipline of investing money for others. Somebody who is wealthy, for example, unless she is herself a skillful investor, may hire a wealth manager to handle her investments. Wealth managers make money for themselves, usually by charging a small percentage fee on the money they invest for others.
- The Investor Lifecycle: Changing Priorities, Changing PortfoliosThroughout life, financial planning – and therefore investment strategies -- often changes depending on your stage of life. While age can play a role in the composition of your investment portfolio, in the end, the biggest impact is your financial goal, the timeline you have set to reach your objective and the amount of risk you are willing to handle.
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