A Study on Determining Factors that Affect the Acceptance of Wealth Management

Authors

  • Apurva Shrivastava
  • Gyan Prakash

Abstract

Wealth Management is a new concept in the market that needs to gain its momentum yet. The people are willing to manage their wealth but wish to do it by themselves as they don’t trust on others for their hard earn money. This hitch is a major challenge for the wealth management company to overcome it, this hinderance can be curtailed by dealing with the peoples’ insecurities and making them trust on them for their money. The study focusses on the determination of factors that were affecting the acceptance of wealth management in Indore city. The result showed that there were six major factors that made the acceptance of this concept a challenge they were: love to invest, insufficient balance, poor in finance management, rational investing with others help, incomes and expenses and financial stability.  In order to make the concept accepted it is necessary to increase financial literacy of the people and make them aware about the wealth management concept and its necessity in their life and for their future.

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Published

2024-03-18