A presentation at the office

WEALTH MANAGEMENT

While the use of a wealth manager is based on the theory that he or she can provide services in any aspect of the financial field, some choose to specialize in particular areas. This may be based on the expertise of the wealth manager in question, or the primary focus of the business within which the wealth manager operates.

Wealth management is more than just investment advice, as it can encompass all parts of a person's financial life. The idea is that rather than trying to integrate pieces of advice and various products from a series of professionals, high net worth individuals benefit from a holistic approach in which a single manager coordinates all the services needed to manage their money and plan for their own or their family's current and future needs.

In certain instances, a wealth management advisor may have to coordinate input from outside financial experts as well as the client's own agents (attorney, accountants, etc.) to craft out the optimal strategy to benefit the client. Some wealth managers also provide banking services or advice on philanthropic activities.

Points to remember : - 

  • Wealth management is an investment advisory service that combines other financial services to address the needs of affluent clients.

  • A wealth management advisor is a high-level professional who manages an affluent client's wealth for one set fee.

  • Affluent clients benefit from a holistic approach in which a single manager coordinates all the services needed to manage their money and plan for their own or their family's current and future needs.

  • This service is usually appropriate for wealthy individuals with a broad array of diverse needs.

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