Creation of wealth entails the implementation of techniques for the optimisation and utilisation of existing income streams and/or existing assets in such a way that it increases the net worth of a client and/or that client’s family over a period of time whilst he or she is still economically active.
It includes, amongst other things, the following:
- Effective budgeting;
- The minimisation of taxes, for Example, Income Tax, etc.;
- The curbing of unnecessary expenses and costs;
- The provision of capital and income for dependants;
- The provision of retirement capital; and
- Effective investment of existing funds.