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Cash Management vs Wealth Management
How is cash management different than wealth management?
The financial industry sees a quantum of activities that are far-reaching and overlapping in nature. Management, quite understandably, plays a big part in the smooth functioning of the industry. The 2008 global economic meltdown brought about a change in perspectives and practices. Today, the intricacies and understanding of subsidiary functions within the industry is better laid out and distinguished.
While cash management and wealth management have overlapping components, it is important to understand how the two are different and what they encapsulate. The vital aspects of cash management include cash flow, market liquidity, and investment strategies. Cash management services predominantly include investment planning in order to keep the finances healthy and balanced.
Wealth management is more inclusive in comparison, with a lot of cash management doctrines being a part. For example, cash flow and investment planning, which are primarily the basic functions of cash management, are only parts of the entire wealth management activity. By contrast, wealth management involves a more holistic approach to elevating and maintaining the net worth of individuals and businesses.
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