How to Help Your Clients Build Wealth Over Time?

Clients Build Wealth Over Time

After the pandemic, people have started realising the importance of financial planning. They have realised that if proper financial planning is not done, then they have to lose money for unforeseen expenses like corona illness.

All the money saved then goes away to treating illness. In this article, we will make you understand how we, as financial advisors, can help our clients plan finances and build wealth.

Step by Step Process to help clients build wealth –

  1. Try to know your client –

    Firstly try to understand your clients by getting the basic details. These details include age, marital status, loans taken, monthly expenses, etc. You should properly study their profile to understand where they stand financially and how to proceed.

  2. Understand their investment goals –

    Each person has different goals and objectives. In order to suggest proper investment products, we need to properly understand clients’ short-term and long-term goals, such as saving for retirement, a child’s education, or buying a home. Ask about their risk tolerance, liquidity needs, and investment time horizon.

  3. Assess client’s risk appetite –

    There are so many investment products in the market and you should educate your clients about different products based on their risk appetite. A conservative investor wants the safety of their returns. They prefer low-risk investments. So it’s advisable to make them invest in fixed deposits, bonds, etc.

    On the other hand, there are certain investors who are aggressive and can take risks for high returns. It’s advisable to make them invest in stocks and equity-related schemes.

  4. Insurance as an investment –

    Insurance can be an important component of a comprehensive wealth-building strategy. By helping clients protect their assets and plan for the future, insurance can help clients build wealth over time while minimizing risks and uncertainties.

  5. Encourage to invest for long-term and short-term –

    After analysing everything and providing them with proper knowledge of products, the next step should be to prepare a proper financial plan for them and encourage them to invest.

    There are different products available in the market, like mutual funds, fixed deposits, stocks, bonds, etc. Provide them with the knowledge that helps to prepare a financial plan for them.

    For short-term goals, recurring deposits and debt mutual funds can opt. Whereas for long-term goals like child education, retirement planning, etc., one can invest in stocks, ELSS funds, NPS, etc.

  6. Monitor their Portfolio –

    Things don’t end after suggesting a financial plan to clients and making them invest. Monitoring the client’s portfolio is also necessary. With ups and downs in market conditions or the financial condition of clients, you may have to make changes in their investments.

    You may have to make them exit from certain investments if the need arises. A need can also arise to rebalance their portfolio. This is undertaken accordingly.


Financial planning helps an individual to achieve his investment goals and create wealth. As financial advisors, we first understand our clients and then make them suggest proper financial plans as per their goals.

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