Upravljanje privatnim bogatstvom - slučaj Republike Srbije

Abstract

Today's challenges of wealth management can be noticed by its dynamic competition, fees, stricter regulation and ever-growing needs of clients. These challenges affect responses of interest groups, which consequently promotes critical trends of consumer needs, new technology, changes in advisory models and safety. Clients' growing insight into financial planning is only demanding greater digital possibilities and better advisory options. In regard to the rapid evolution of technology, companies are forced to quickly improve their respective offers for clients. For a very long time, wealth management was only possible in well-developed countries, and their citizens were in a position to be provided with advice regarding wealth management. This branch has lesser significance in countries in transition, since such countries are less wealthy. However, as a result of globalization and the huge growth of gross national product this situation is slowly improving, in spite of financial destabilization and slower economic development. Amidst changes in the allocation of wealth and relative significance of different markets, parameters for the wealth market are changing. The topic of this essay will elaborate on private wealth management in our country. Also, wealth management models will be touched upon, which ones were applied in the past, like the ones that are being used today. Possible improvements of the same will be discussed as well. In our country, the term management of private wealth is still largely unknown. Considering the place that Serbia takes, it is necessary to take measures to improve the indicators, with the aim of improving its position on this list for managers of private equity management. Theoretical and molecular methods have been used in this paper, and the purpose of this work is to present the management of wealth in general, with particular reference to the Republic of Serbia.