Business Studies · Financial Management

Consider the following statements regarding wealth management: Statement 1: Professional wealth management is essential for navigating the transition from the accumulation phase of the life cycle to the distribution phase. Statement 2: The primary goal of a wealth manager is to guarantee a minimum return of 25 percent per annum on all investments using secret offshore trading strategies. Statement 3: Wealth management services in banks contribute to the financialization of the economy by encouraging savers to move away from physical assets towards productive financial instruments. Statement 4: A wealth manager's role includes educating the client about the impact of real interest rates and inflation on long-term purchasing power. Statement 5: Estate planning is only relevant for individuals who have multiple properties in foreign countries. Statement 6: Wealth management involves risk profiling to determine a client's willingness and ability to take risks. Statement 7: The use of Artificial Intelligence and Big Data allows banks to provide more personalized and proactive wealth advisory. Which of the following options represents the correct set of statements?