A Study on Awareness and Knowledge about the Wealth Management among Retailers in Velankanni

Abstract

Wealth management plays a significant role in financial decision-making, savings behavior, and economic empowerment among retailers. The study titled “A Study on Awareness and Knowledge about Wealth Management among Retailers in Velankanni” aims to assess the wealth management awareness and knowledge of retailers engaged in financial activities. The study focuses on financial knowledge, financial behavior, financial attitude, awareness of financial services, and government schemes. Descriptive and analytical research methods were adopted, and primary data were collected from 150 respondents through a structured questionnaire based on a five-point Likert scale. Statistical tools such as percentage analysis, descriptive statistics, chi-square analysis, correlation, and regression analysis were used for data analysis. The findings reveal that most respondents possess a moderate level of wealth management. Awareness of livestock insurance, government schemes, and digital financial services was comparatively low. The results indicate a positive relationship between awareness and knowledge. Wealth management involves balancing long-term growth and short-term gains while maximizing returns and minimizing risks. Wealth managers provide financial guidance, portfolio management, tax planning, and investment support, helping clients make informed financial decisions. They also offer digital resources such as research tools, investment calculators, and wealth management reports. Effective wealth management requires extensive knowledge of financial markets, instruments, participants, and market trends.