Is asset management the same as wealth management?

The terms “asset management” and “wealth management” are often used interchangeably to describe investment services. While they are closely related, they are not one and the same. What is Wealth Management? Wealth management goes beyond managing stocks and bonds.

What is wealth management and how does it work?

Wealth management addresses the needs of affluent clients, and it involves a combination of financial services. For example, estate planning, investment management, and tax guidance are usually part of wealth management. Occasionally, wealth management involves giving legal advice.

What is a wealth management advisor?

A wealth management advisor is a high-level professional who manages an affluent client’s wealth holistically, typically for one set fee. This service is usually appropriate for wealthy individuals with a broad array of diverse needs. Wealth management is more than just investment advice. It can encompass all parts of a person’s financial life.

What is asset management & how does it work?

The goal of asset management is to maximize the value of an investment portfolio over time while maintaining an acceptable level of risk. Asset management as a service is offered by financial institutions catering to high-net-worth individuals, government entities, corporations, and institutional investors like colleges and pension funds.