Financial Risk Management and International Financial Reporting Standards: Analysing Substitutes in Financial Services for Wealth Management Banks.

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ACKNOWLEDGEMENT

No words can express my appreciation and gratitude to my research advisor _______ through the course of this research, Professor _____has taught me numerous values that extend well beyond the realm of _________ (Your Subject Name). His emphasis on dedication to work and his valuable and practical insights of life are some of the major highlights of my education at The University _________.

DECLARATION

I [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for the academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

CHAPTER 1 INTRODUCTION1

1.1 Introduction1

1.2 Problem statement1

1.3 Aims and objectives of the research2

1.4 Research questions2

CHAPTER TWO LITERATURE REVIEW3

2.1 Overview of IFRS3

2.2 Compliance with IFRS for financial risk management5

CHAPTER THREE METHODOLOGY6

3.1 Proposed research approach6

3.2 Rationale for the proposed method7

REFERENCES8

CHAPTER 1 INTRODUCTION

1.1 Introduction

Beyer (2008, 120) described that the term Wealth Management is a comparatively new term, which had developed in the period of 1990's in the fields of banking, broker dealership, and insurance in America. In broad terms, the concept of wealth management has developed from taking sophisticated financial consulting for high net-worth clients, with a huge amount of money, of a company to a sophisticated type of private banking, which involves several types of banking products and services, which involves insurance and investment for their clients (Moehlman 2004, 138). After the annulment of the Glass-Steagall Act in the year 1999, different non-banking financial organizations have the chance to furnish financial services in these formats from the same platform (Goldthwaite 2005, 14: Mishler and Cole 2005, 128). Wealth management banking involves financial planning, through which they are able to provide individuals and families, with high level of net-worth, with different services, with the objective of maintaining and escalating wealth in the long-term. Whereas, on the other hand, financial planning could be valuable for people, who might have compiled some amount of wealth or have started to do so (Anderson, Sweeney & Williams 2007, 89).

1.2 Problem statement

Wealth Management Banks are comparatively new in the field of global banking as compared to other conventional forms of banking. The financial services for wealth management banks do carry some risks as it involves dealing with private clients and this increases some risk, as well (Bates, Bates & Johnston 2003, 173). On the other hand, it is very important for wealth management banks to comply with the international standards set by IFRS (International Financial Reporting Standards). This might allow the wealth management banks to somehow control their financial risk.

1.3 Aims and objectives of the research

The major aim of this dissertation is to analyze that how the wealth management banks provide services to their clients and manage their risk.

1.4 Research questions

1. What is the concept of wealth management?

2. How do banks provide wealth management services to ...