Getting rich & staying that way

Malaysian Business, Aug 16, 2008 by Reviewed by Thavamani S Retnam

SINCE 1997, Capgemini and Merrill Lynch have published the global industry benchmark on high net-worth individuals (HNWIs) and their investment habits in the World Wealth Report. Keeping to this trend, they have come up with a book, entitled Wealth, How the World's High- Net-Worth Grow, Sustain, and Manage Their Fortunes. Well, since it has been said that 10 million millionaires control over US$ 37 trillion dollars in assets worldwide, it would pay to know how they acquire and manage their wealth. I would want to know, wouldn't you?

In this book, Merrill Lynch and Capgemini have made great use of their experience and expertise to present a readable guide on what drives the success of HNWIs, as well as the trends, growth, increased complexity and competitiveness of the global wealth management market, all based on over a decade of research. Basically, the book covers:

* What your wealth management goals should help you aspire to achieve,

* Fresh financial planning ways for HNWIs to safeguard their future,

* How to take your wealth to the next level,

* Trends, similarities and differences among various regions around the world,

* Creative approaches to asset allocation and alternative investments,

* Philanthropy in wealth management, and

* Inter-generational wealth transfer, among others.

Peppered throughout with in-depth interviews with prominent HNWIs as well as advisors, Wealth makes both a thought-provoking and interesting read. Taking charge of your financial future with the help of some of the world's wealthiest individuals and most talented investment advisors is a sure way of taking that first crucial step to success, no matter what your current net worth is, don't you think?

Merrill Lynch, incidentally, is one of the world's leading wealth management firms, while Capgemini is a global leader in consulting, technology, outsourcing and professional services.

`Wealth, How the World's High-Net-Worth Grow, Sustain, and Manage Their Fortunes',

* By: Associates of Merrill Lynch and Capgemini, with foreword by Robert J McCann and Bertrand Lavayssiere

* Publisher: John Wiley & Sons (Asia) Pte Ltd

* Pages: 236

* Price: RM98.80