The knowledge and application of wealth management in Uganda. A case study of Makerere university

Abstract

The study sought to determine the knowledge and application of wealth management as factors that determine the uptake of wealth management. The objective of the study was to find out if the knowledge and application of wealth management in Kampala using the students of Makerere University as a case study would affect the uptake of wealth management. The study was a cross sectional descriptive study that used quantitative methods for data collection, this includes the use of a questionnaire with the two sections. These sections were knowledge and application of wealth management. A sample space of one hundred thirty-nine participants (139) were randomly selected, all of whom were students. A questionnaire was administered to the participants to determine the knowledge and application of wealth management. It was sub-divided into three sections namely, general knowledge about wealth management, how has it been applied and their demographic details and only 127 students responded to the questionnaire. The data was entered using STATA used for analysis. A binary logistic regression was used to measure the independent variables against the uptake of wealth management. The results of the study showed a significant relationship between the forms of media used to obtain knowledge about wealth management and its uptake (p=0.012). In the multivariate analysis selected variables were used for further analysis using a binary logistic regression. The conclusion given that the forms of media used to find out about wealth management as the most significant variable. It was also shown that a respondent who found out wealth management from conferences had odds of (OR=0.58), that of finding out form family and friends had odd of (OR=0.13) and through journals or books had the odds of (OR=0.17) to uptake wealth management. Therefore, there is an urgent need to find more ways to avail the knowledge of wealth management to the public in order to increase its uptake.