Nigeria is among the third world nations.

This gradation is thus based on the level of development and growth rates emanating from the confines of the country. Recently, due to economic activities and government plans, the country is called as an emerging economy.

It is positive to note that in recent times, the growing economic activities in the country have started to show signs of producing a new batch of millionaires. Among them are educated and uneducated, young and old, locals and foreigners, men and women, and most importantly, those who are financially literate and illiterate. They come from practically all the various areas of business. The most vivid of them all are those of banking, oil and gas, sports, manufacturing, transportation, telecommunications, real estate, and our beloved entrepreneurs whom we call people who buy and sell.

The number of these new sets of millionaires is sure to expand due to the untouched nature of the country and the growing demands of its more than 140 million citizens and an unknown number of foreigners. Likewise, the VISION 2020 proposal by the current president, President Umaru Musa Yar’ Adua, stands out, to place Nigeria among the top 20 economies in the world for that year.

As noble as the ideas are, and since all the keys are now working to realize this vision, creating more wealth poses more problems than meets the eye in terms of retaining the wealth thus created. In this note is the need for a financial planner in wealth management. This notion is still novel, but it sounds rather strange since many of our citizens, both individuals and cooperative bodies, may not understand their place in economic affairs. Mr. President saw this as an urgent need, therefore, on his state visit to Switzerland earlier this year, he called on the Nigerian business community living there to come home and help make this a reality. dream.

This service has been well established in developed countries and represents the quantum leap in the wealth of these nations. It’s no coincidence that we see empires abroad that have lasted for more than four decades and counting. Among them, a word like PRIVATE WEALTH MANAGEMENT is quite common and denotes a specialized service rather than a service offered generally. According to Morgan Stanley, a foreign financial services provider, “private wealth management” is a service reserved for clients with investments worth more than $20 million.

Based on this reason, the importance of a financial planner cannot be overemphasized. He occupies a central position similar to that of a coach. His team includes bankers, lawyers, insurers, real estate brokers, stockbrokers and others.

Their duty depends on the instruction of the originators.

This duty separates them from other traditional financial services professionals. Therefore, for a beginner, it can be a trusted friend and a guide to reach a given financial destination. For those who have counted a few millions, this strategic plan multiplies their wealth, for those in the billionaire arena, its expertise will sustain, safeguard and transfer their hard-earned wealth to their intended recipients.

Cases abound of empires in multiples that plummeted and disintegrated with the disappearance of their founders. Similarly, a person’s individual law offers his wealth to non-approved persons. Inheritance taxes and the mismanagement of wealth are not left out either.

The sole job of a financial planner in wealth management is to use various wealth management options to protect clients’ wealth. When this is done, the useful life of wealth is protected and extended while keeping a nation’s wealth afloat.

Get a financial planner today!