Which of the following is NOT a key component of a comprehensive wealth management strategy?

A comprehensive wealth management strategy focuses on long-term financial goals and holistic approaches to managing a client's wealth. Key components of such a strategy typically include investment management, tax planning, and estate planning.

Investment management involves creating and overseeing a diversified investment portfolio that aligns with the client's risk tolerance and financial goals. Tax planning is crucial for maximizing after-tax returns and ensuring compliance with tax regulations, while estate planning assists in the efficient transfer of wealth to heirs and can minimize estate taxes.

Market speculation, on the other hand, is characterized by high-risk, short-term trading aimed at quick profits, often without a well-defined strategy or long-term vision. It does not align with the core principle of wealth management, which seeks to build and preserve wealth over time through careful planning and prudent financial decisions. Ths makes it the option that does not belong as a key component of a comprehensive wealth management strategy.