What Is Wealth Management And Who Are Wealth Managers?
Not every high-net-worth individuals (HNWI) and ultra-high-net individuals (UHNI) have similar approach towards their money. But how do HNWIs and UHNIs differ? The former are those with a net worth between $1 million and $5 million, whereas the latter have a net worth of $30 million and over. By simply looking at the numbers, you would be able to get a good picture.
While it is a wonderful blessing to have such kind of wealth, this goes along with great responsibility as wealth needs to be handled the right way in order to maintain it as well as allow it to continue growing. This is why HNWIs and UHNIs need wealth management. As the wealth of HNWIs and UHNIs grow over time, their financial situations may turn out to be more complex and where certain factors threaten their wealth, such as inflation and estate taxes. With a professional wealth manager, they can greatly help in navigating through those issues as well as getting around some of these serious financial drawbacks.
What Is It Wealth Management?
Wealth management offered by wealth management firms such as pillar wm is purposely designed to help out HNWIs or UHNIs clients to continuously grow the wealth that they already have earned, protect their assets as well as lessen their financial risks. It is a kind of financial advising that goes beyond looking for and selecting investments. It combines a set of financial services so as to meet the requirements of their clients.
Wealth managers of these wealth management firms are more than financial advisors as they are able to offer counsel on an extensive scope of financial situations and issues that are unique to clients who are handling assets that are worth millions of dollars. Among the services that wealth management firms like pillar wm offer are:
- Management of investments
- Financial planning
- Estate planning
- Legal planning
- Generational planning
- Accounting as well as tax services
- Retirement planning
- Philanthropy advice
What Are Wealth Managers?
In terms of managing finances that’s worth millions, doing it alone could be overwhelming and daunting as you make an attempt to formulate an effective strategy. If you decide to get help from experts, make certain you seek advice from the right professional wealth managers, such as pillar wm.
Wealth managers are simply a subclass of financial advisors. However, they primarily cater to high-net-worth individuals and ultra-high-net-worth individuals. Hence, they have the knowledge and skills to help clients to manage their enormous amounts of wealth. Their services are more personalized since they need to match the needs as well as the financial goals of their clients. Wealth managers are quite hands-on as well as comprehensive in the services they provide their clients. HNW and UHNW clients work with one wealth manager or advisor for all their financial requirements and goals. Hence, the services that wealth managers provide will vary.
Pres. Biden Says $15/Hour Wage Hike Might Be Excluded in Pandemic Relief Package
In a recent CBS interview, Pres. Biden disclosed that the provision aiming to raise federal minimum wage to $15 could be excluded from the $1.9 relief package. Nonetheless, the President added that he would be urging Congress to pass a separate bill that will see to the promised $15 per hour minimum wage increase. He believes that it isn’t right for workers to still live below poverty wage while working more than 40 hours a week.
What Will Be Included in the $1.9 Trillion Stimulus Package
As President Biden promised, he and his Democratic allies in Congress will obtain the $1.9 trillion relief package, even without the support of Republican lawmakers. They did so through a congressional process known as reconciliation procedure. However, based on the rules of reconciliation, only legislation that impacts the federal budget will be passed in the final bill.
That being the case, the bill passed under reconciliation procedure Includes items like the $170 billion allocated for college institutions and K-12 schools. There is also a $30 billion allocation to provide citizens with assistance in the settlement of unpaid household expenses like utilities and rent.
Vermont Senator Bernie Sanders who is now the Chairman of the Senate Budget Committee said he is still exerting effort, and looking for ways of including the minimum $15/hour minimum wage hike in the $1.9 trillion stimulus bill. According to the Vermont Senator, he is counting on a team of lawyers to make a case of citing the minimum wage hike as having important budget implications in accordance with the reconciliation rules.
Important Facts to Know Before Taking Legal Action as a Recourse
While we often read news of civic groups taking legal action, they do so only if they have financial support to see the case throughout the entire process. Generally, settling a dispute in court is regarded as the most effective way of resolving issues. However, due to the litigation costs involved, it is not alway the most cost-efficient method.
Legal Advisers Recommend Litigation on Meritorious Cases
Legal advisers recommend going to court especially on meritorious cases, such as seeking to recover costs incurred as a result of personal injury or damage done to one’s property, or even to one’s reputation. Mainly because filing a lawsuit is one way of forcing the offending party to agree to a settlement even before the case is heard in court.
Inasmuch as the financial costs of litigation can be extremely expensive, most defendants often see the practicality of settling the matter extra-judicially, or out of court, and agree to a settlement. That way, they can avoid incurring additional litigation costs that could go on for an extended period of time. After all, it is common for legal proceedings to drag on for years before the presiding judge issues a ruling to resolve a dispute.
What if the Suing Party Can No Longer Afford to Pay the Costs of Litigation
.On the other hand, there are cases where plaintiffs become financially disadvantaged; losing financial means to pursue legal actions while awaiting a court decision. A defendant who is aware of a plaintiff’s financial handicap could leverage such situations as a way to reduce or avoid payment of the amount being claimed as settlement, by allowing the case to continue in court.
One solution to such a predicament is to seek a reliable pre settlement funding company, preferably from among those reputed to offer the best lawsuit funding loans in terms of equitability. Availing a pre settlement lawsuit loan is the most likely solution because banks and other credit institutions do not extend loans for such purposes.
Inasmuch as this type of lending is not regulated, it’s a must to carefully compare the terms and conditions, especially the interest rates applied on the amount extended as pre settlement lawsuit loan.
How Does a Pre Settlement Lawsuit Loan Work?
Just to be clear, know that a pre settlement lawsuit loan is generally regarded as an investment on the part of the pre settlement lending firm. The latter will agree to providing a lawsuit loan only if a legal case has been filed, and if the results of their assessment indicate that the plaintiff has great chances of being awarded the amount being claimed as settlement.
Usually, the agreement is for the lawsuit loan borrower to pay the lending firm the principal amount plus interests and a funding fee based on the proceeds of the amount received as extra-judicial settlement, or as awarded by the court. However, if the court hands down a ruling that will not result in the awarding of a settlement, the lawsuit tending company cannot collect from the plaintiff.
Before Engaging In Gambling
Online gambling has become a go-to for many people looking for some entertaining pastime. WinSlot Casino, for instance, is a trusted Sbobet agent in Indonesia. After successfully accessing sbobet login, players could straight away access the betting page of Sbobet to begin betting on soccer games as well as play some exciting casino games.
It is crucial and fundamental to play at a trusted, credible and of course licensed online gambling site to ensure a smooth and safe gameplay and where you are sure that your personal and financial details are protected. Check out sbobet login.
Before Engaging In Gambling
Before engaging in gambling, whether at an offline or online casino or sports betting, one of the most important and essential factors to have is a good money management plan and strategy. This is one important thing that many forget or disregard. A lot of beginners also hit the tables and play all of their bankroll in one gaming session which is a really rookie move as this is a really bad idea and must be avoided at all times.
Having a Smart Bankroll Management
Bankroll management (BRM), as mentioned, is one of the salient elements of gambling. This means that a player, whether a beginner or a veteran, apportions certain limits to prevent losing everything that you have in your bankroll when you are at a losing streak, something that players have to expect at times.
When you set aside a certain amount of money to play with, you are then playing within in your set bankroll. When playing at limits that are higher, wherein there is a greater risk of losing, you are playing outside your bankroll.
Practicing a wise bankroll management will very much help avoid you too become broke. With the lack of smart BRM skills and strategies, even the top players may lose everything at some point. Basically, it isn’t enough that you know how and are skilled at playing the game, but it is also about being able to understand, make and implement an efficient bankroll management plan. To get you started, below are two tips.
Set Aside a Budget for Gambling
The very first step to creating a bankroll management is to set a gambling budget. This will be your bankroll and the money you allocate for your gambling should be an amount that you could afford to make use of for gambling, as well as an amount that you are ready to lose. For instance, if your monthly paycheck is $3,000, you have to minus from the amount your monthly expenses, such as bills, groceries, savings and emergency funds. After all of this, the extra money you have could be allotted for your bankroll.
If You Can’t Afford to Lose It, Don’t Gamble It
If you don’t have enough money to put into your bankroll, you have no choice but to wait until you are able to have it. It isn’t wise to be pulling out money from your child’s college fund or emergency fund, or skipping bill payments so as to have something for your bankroll. If you don’t have it, and if you can’t afford it, then don’t use it for gambling. Having self-control and discipline is then imperative.
The Politics of Pushing Legislation on Online Casinos in South Africa
Sun International has been campaigning the Southern African Department of Trade and Industry to permit land-based casinos’ rights to operate online casino games.
South African operators are gently forcing the authorities to pass laws permitting online casinos to run together with the legalized and controlled online gaming sector. They’re hoping that the hard work put into the 2008 National Gambling Amendment Act to officially legalize online casino gaming will eventually be finished.
Kelvin Jones, senior editor of PlayCasino said: “For several decades, South Africa’s internet gaming business has been working in a gray zone. The challenging blow that the business took throughout the Covid-19 lockdown had retail operators appearing afresh at other revenue alternatives, along with the evident attention was on internet gambling.
These operators will need to reevaluate their company in the aftermath of the outbreak and of course, they would like to prevent retrenching staff. The very ideal means to do this would be to repackage their companies, and what greater — and much more demonstrated — a method to do this than to provide their services.”
“South Africans are enormous fans of online casinos as well,” said Kelvin Jones. “Millions of South Africans play regulated, accredited foreign websites which are wholly concentrated on the neighborhood player and also permit them to purchase ZAR.
Well-established and respectable casino operators like Tsogo Sun and Sun International are aware of them but they wish to get things the ideal way. Instead, they want the government to give the green light to allow them to tap to the Rand online casino market.”
ALSO READ: Politics Can Impact The Financial Market
Sun International was campaigning the Southern African Department of Trade and Industry allowing land-based casinos that the right to provide internet casino games such as those offering the latest online casinos bonuses at Kiff Slots. SunBet brand started draw-based games a few months ago and intends to present online variations of live seller names.
Tsogo Sun also has urged the authorities to take a second look at present online gaming laws. The team’s CEO, Chris du Toit stated that online gaming has been a “natural development” for its company, which is currently at an advanced phase of going into online sports gaming.
“The South African government shouldn’t pass on this momentous fad,” explained PlayCasino’s Kelvin Jones. “As we have seen in different areas of earth, it is not a given that land-based casino operators are wholly supportive of the internet gaming market.
Here’s the ideal chance for those operators to construct their companies, prevent retrenchments, raise their earnings, and cancel the horrible losses brought on by the pandemic. On the flip side, the authorities will profit from increased tax earnings and a stronger market. It actually is a win-win.”
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