Wealth Management

Posted in Finance, Accounting and Economics Terms, Total Reads: 192

Definition: Wealth Management

It refers to a high-level professional service which combines financial advice, accounting services, retirement planning and legal planning for some fee. Clients work with a single wealth manager. The wealth manager takes inputs from the financial experts. He also takes advice from the client's own attorney, accountants and insurance agent. In addition he also provides banking services to the client. He may also advise the clients on his philanthropic activities.


In other words, Wealth management can be considered to be an investment-advisory discipline. It incorporates financial planning, investment portfolio management and several other aggregated financial services.

These wealth managers are generally desired by

i) High-net-worth individuals (HNWIs)

ii) Small-business owners

iii) Families

These clients desire an assistance to coordinate retail banking, estate planning, legal resources, tax professionals and investment management.



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