Finance Monthly. Bank i ng & F i nanc i a l Se r v i ce s 44 • In addition to personal recommendations, online ratings and feedback, I believe, will become increasingly crucial in choosing wealth management providers. What are the top tips for wealth preservation in 2022? 2022 - Inflation, economic downturn, stock market highs and lows, cryptocurrency crash. Even with the benefit of hindsight, it will not be easy to review this year’s events, even now that we are in it! However, chances are, this year will be more about wealth preservation than significant gains. So let us consider some tips on how to preserve the value of your portfolio: 1. Always pay attention to your portfolio! If you manage your portfolio yourself or have entrusted it to a professional service provider, make sure you know its current status. Many online solutions and your portfolio manager can help you with this. 2. If possible, you should consult a professional wealth management adviser. When you bring in a financial adviser, you have a wealth of knowledge, experience, and a solid safety net to protect the value of your assets. 3. Choose less risky investments! Suppose you are thinking about restructuring your wealth. In that case, it’s a good time to choose safer but lowerrisk investments for the long term - such as a stock index, a government bond, but even more so real estate or a unique piece of art. 4. Diversify your portfolio! Unfortunately, most often than not, this is only possible, say, when the bear market has bottomed out. However, the trends are pointing downwards for now. In such a situation, it makes sense to minimise risky assets and instead choose a variety of assets so that the rest of your portfolio can offset any downside. 2022 is the third successive year that confirms we live in very exciting and eventful times. It is truly a historical time - with all its pros and cons. However, the economy is becoming more and more unpredictable, so you may want to consider wealth management and protection as an integral part of wealth creation. About Ramesan Doraisami Ramesan Doraisami is an entrepreneur, investor, business adviser and international professional Speaker. Formore than 20 years, he has been investing, training entrepreneurs and working with other investors in entrepreneurship and business. During this time, he created several businesses, both as his ventures and on behalf of global clients. In 2013 he founded Azalea Ventures Limited as his investment firm and a global consulting firm, LCL Group, based in London. For the last nine years, he has worked with start-ups and small business owners as an investor, mentor, and adviser to help entrepreneurs generate personal wealth through their businesses. Recently Ramesan launched the Entrepreneur Success Foundry, dedicated to providing muchneeded training and education to both current and would-be entrepreneurs, significantly improving their success potential. Ramesan intends to share his knowledge and extensive experience with a more significant number of entrepreneurs through the Entrepreneur Success Foundry. Sources: https://www.google.com/finance/quote/. INX:INDEXSP?sa=X&ved=2ahUKEwillYrutfb3AhXjMewKHe3uCqQQ3ecFegQIGBAg https://www.investopedia.com/terms/w/wealthmanagement.asp https://www.capgemini.com/wp-content/uploads/2022/03/Top-Trends-in-WealthManagement-2022-2.pdf https://www.wealthspire.com/blog/5-myths-financial-planning/ https://www.nerdwallet.com/article/investing/what-is-a-financial-plan https://www.gov.uk/government/news/uk-hits-key-russian-oligarchs-with-sanctionsworth-up-to-10bn https://www.wiseradvisor.com/blog/financial-planning/wealth-preservation-strategies/
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