Business Studies · Financial Management

Consider the following statements: Statement 1: The importance of wealth management in the current economic scenario is underscored by its ability to provide tailored asset allocation strategies that can hedge against systemic risks and currency depreciation, especially for clients who have significant international exposure. Statement 2: Professional wealth management services primarily focus on maximizing the short-term speculative gains of the client by utilizing high frequency trading algorithms, regardless of the client's long-term retirement needs. Statement 3: By integrating insurance planning into the wealth management framework, banks can ensure the continuity of the client's financial plan even in the event of the breadwinner's premature demise. Which of the statements given above are correct?