Doing good asset management is synonymous with security and cost optimization, enabling better use of assets and profitability. Therefore, investing in wealth management is a differential that can positively impact both from a business perspective and from the perspective of personal wealth management.
Although the process of managing assets and wealth is important, many people do not give it due importance, which ends up creating problems ranging from legal inadequacies, to the loss of business opportunities.
With that in mind, we have developed this comprehensive guide that brings practical information that will help you understand what wealth management is, what are the main concepts on the topic, what is its importance, the main steps and some tips to help you choose a good company to manage your assets. Are you interested in the subject? Continue reading the content and understand more about Hamilton Chukyo Brokerage!
What Are Assets And Assets?
Before talking about wealth management itself, it is necessary to understand two basic concepts that are directly linked to it: equity and assets. Although some people believe that they are synonymous, the concepts are completely different and knowing them helps to understand how an efficient wealth management process is implemented.
What Is Heritage?
The set of assets, rights and obligations of a person, be it physical or legal, is considered patrimony. The patrimony can be personal, when it refers to the assets of a person; it can also be called family heritage, which includes the assets of a group of people in the family; or even the public patrimony, which includes the assets of a population. A public company, for example, is made up of public assets, which encompasses assets and property rights of all members of the nation.
And What Are The Goods?
All items that have an economic value and can be converted into cash are considered goods. There are several types of classifications and differentiations involving goods and understanding each of them helps to understand the categories of goods.
In this sense, goods can be movable, immovable, and tangible, intangible, consumer, cash, sale, and primary, production, intermediate and final. Check out what each of these classifications means and learn how to differentiate your personal and business assets.
Movable and Immovable
Movable assets are all those that can be moved from one place to another without losing quality. The best known examples of movable goods are vehicles, machines and furniture. Real estate, on the other hand, is all those objects that cannot be moved, such as physical facilities, land and buildings (houses, buildings, pavilions). These goods are directly linked to the place where they are located, being almost impossible (or totally impossible) to remove them.
Tangible and Intangible
All tangible goods are tangible and easy to measure. This category includes goods such as equipment, machinery, goods in stock and inputs, for example. In turn, all assets that have no physical form, but that have a value attributed to them, are considered intangible. Examples of intangible assets are trademarks, patents and copyrights.
From an industrial and business perspective, these goods refer to the materials used for conservation, cleaning and maintenance. Consumer goods include administrative materials, hygiene products, fuel, among others.