As the stock markets surge to record levels, millions of first-time retail investors have taken the plunge to enjoy a pie of the huge returns but only a few have taken steps towards professional financial advise or wealth management services. What is a wealth management and does it make sense for even small retail investors to go for it? Saumya Shah, Founder, Tarrakki spoke to money9 and dispelled some myths around the subject.
“Wealth management is a simple process to achieve financial goals which could include saving for a rainy day, retirement or to buy a car or house. Small retail investors need to understand that to fulfill these goals you need to consult a financial advisor as they can allocate the money to the right asset classes”, he said.
He also said that in the past few years a lot of DIY (Do It Yourself) platforms have emerged however, one must be cautious if the only parameter based on which the decisions are being taken is the historical average.
He also shared the steps in which new investors should move forward to be on top of their financial planning.
Watch the full video to catch the entire conversation
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