We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Finance

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What Are the Different Types of Money Management Services?

Gerelyn Terzo
By
Updated: May 17, 2024
Views: 2,656
Share

Money management services give businesses and other organizations support in making key financial decisions. Individuals and families can also access a number of services to assist them with personal financial planning or debt reduction. Money management services can help with short-term term or temporary events, or could be retained for an ongoing period of time.

Consultants can provide money management services to corporations, government entities, and non-profit organizations. Financial consultants are hired to make recommendations for the way that money is managed in retirement accounts and other investment funds. The advice of financial consultants can help the investment team at some entity to be able to assess the conditions in the markets and the economy and the types of realistic returns that can be earned. Consultants can fulfill a number of money management services, including facilitating the search process when a business or other organization seeks to hire some third-party firm, such as an auditor.

A financial analysis that is performed on a business, economy, or region could also be considered a type of money management service. The professionals who perform analysis seek to offer insight on the financial performance of a potential investment by examining income, sales, and growth. Information provided from a financial analysis could be useful in determining in whether or not an investment is too risky. Analysts often assign ratings on financial securities and regional economies that illustrate the credit worthiness of those investments.

Money management services can also be obtained from providers that specialize in negotiating debt settlements or payment amounts with creditors. Debt service providers might attempt to negotiate lower interest rates for clients or attempt to consolidate numerous debts so that debtors only have to make one monthly payment. Bankruptcy filings can often be avoided by renegotiating credit terms or reaching a settlement with creditors. The money management services provided by debt specialists might provide clients this protection.

Financial advisers offer other types of money management services. Individuals can turn to these financial professionals to establish estate planning, which is a type of succession planning that for the property owners. Estate planning ensures that assets will be transferred to the desired parties when the asset owner dies and it protects real estate assets from becoming subject to excessive taxation. Attorneys can also help with the legal aspects of estate planning, and subsequently are involved in providing money management services.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Gerelyn Terzo
By Gerelyn Terzo
Gerelyn Terzo, a journalist with over 20 years of experience, brings her expertise to her writing. With a background in Mass Communication/Media Studies, she crafts compelling content for multiple publications, showcasing her deep understanding of various industries and her ability to effectively communicate complex topics to target audiences.

Editors' Picks

Discussion Comments
Gerelyn Terzo
Gerelyn Terzo
Gerelyn Terzo, a journalist with over 20 years of experience, brings her expertise to her writing. With a background in...
Learn more
Share
https://www.wisegeek.net/what-are-the-different-types-of-money-management-services.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.