Professional Services

Team membersChandra Mouli

Pavan Srinivas
G.Divya
Rahul
P Srujana
Satya Kam Jawal

Defination

Professional Services are occupations in the tertiary sector of the economy

requiring special training in the arts or sciences.

Some professional services given by engineers,doctors,bankers,lawyers etc.

Types of Professional Firms

Classic PSFs (e.g. law and accounting firms) - characterised by a high

knowledge intensity, a professionalised workforce, and low capital
intensity

Professional campuses (e.g. hospitals) - characterised by a high

knowledge intensity, a professionalised workforce, and high capital
intensity

Neo-PSFs (e.g. management consultants) - characterised by a high

knowledge intensity and a low capital intensity

Technology developers (e.g. R&D firms, biotechs) - characterised by a

high knowledge intensity and a high capital intensity

Example occupations
There is no definitive list of occupations in professional services, but commonly held
examples include the following:

Accountant

Actuary

Architect

Dentist

Engineer

Management consultant

Investment manager

Physician

Registered nurse

Evaluator
Financial Planner

Pharmacist

Lawyer

Surgeon

Training and development

IT consultant

Financial planner Afinancial plannerorpersonal financial planneris a

professional who prepares financial plans for people. These financial plans
often covercash flowmanagement,retirement planning,investment planning
,financial risk management, insurance planning, tax planning,
estate planningandbusiness succession planning(for business owners).

Risk Management and Insurance Planning Managing cash flow risks through
sound risk management and insurance techniques

Investment and Planning Issues Planning, creating and managing capital

accumulation to generate future capital and cash flows for reinvestment and
spending, including managing for risk-adjusted returns and to deal with
inflation

Retirement Planning Planning to ensure financial independence at retirement

including 401Ks, IRAs etc.

Tax Planning Planning for the reduction of tax liabilities and the freeing-up of
cash flows for other purposes

Estate Planning Planning for the creation, accumulation, conservation and

distribution of assets

Cash Flow and Liability Management Maintaining and enhancing personal cash
flows through debt and lifestyle management

Investment management

Investment managementis the professionalasset managementof various

securities(shares, bonds and other securities) and otherassets(e.g.,
real estate) in order to meet specified investment goals for the benefit of the
investors. Investors may be institutions (insurance companies, pension funds,
corporations, charities, educational establishments etc.) or private investors
(both directly via investment contracts and more commonly via
collective investment schemese.g.mutual fundsorexchange-traded funds).

The term asset management is often used to refer to the investment

management ofcollective investments, while the more generic fund
management may refer to all forms of institutional investment as well
as investment management for private investors. Investment managers
who specialize inadvisoryordiscretionarymanagementon behalf of
(normally wealthy) private investors may often refer to their services
asmoney managementor portfolio management often within the
context of so-called "private banking".

The provision of investment management services includes elements of

financial statement analysis, asset selection, stock selection, plan
implementation and ongoing monitoring of investments. Coming under
the remit offinancial servicesmany of the world's largest companies
are at least in part investment managers and employ millions of staff.

The term fund manager (orinvestment advisorin the United States)

refers to both afirmthat provides investment management services
and an individual who directs fund management decisions.