What Do Wealth Managers Do?

Drag to rearrange sections
Rich Text Content

There are many financial planning services offered in the market today and one is Wealth Management. If you talk about comprehensive investment management which includes financial advice, guidance about tax, estate planning and even legal advice, you are actually taking about parts of Wealth Management. 

Today, you may have heard of Financial and Wealth Managers working for people and this makes people become more financially stable. That is, they were able to handle well their finances with the help of Wealth Managers. But what do wealth managers do?

Wealth Managers

A wealth manager is a subset of financial advisor who offers wealth management services to people with high-net-worth. If you think of wealth managers helping you with your investment, well, a wealth manager far more comprehensive than advising your with regards to your investment.

A wealth manager focuses on the holistic services which encompasses all parts of the person’s financial life. This may include investment, financial planning, and even to the accounting of assets and tax services. Even to retirement planning and real estate planning, wealth managers could help you with that.

The very goal of financial management which is being worked out by wealth managers is for client to grow and preserve wealth for a long term. 

Every wealth management firm has its own services and specialties, thus, if you plan to hire one, make sure that you have define what you really need with regards to your wealth and your finances. 

Clients who usually work with Wealth Managers

Wealth managers usually work with clients who have large amount of investable assets. In the wealth management world, these clients are termed as high-net-worth and even ultra high-net-worth people. Looking at the term, they can be understood as individuals with much wealth in terms of investments, assets, etc. 

In United States and even to other countries, people who have high-net worth are those who have at least $750,000 in assets, or has a net worth of or over 1.5 million. 

Now, if you are an affluent individual and would like your assets will be managed well because you don’t have idea which market are you going to invest, the trust a wealth manager. Even those who are retiring with much amount of wealth and want their wealth to be properly handled to last for a longer period of time, they ask assistance from wealth managers near them. Remember, assets and wealth are gained with much effort. Surely, you no one wants to lose them in just a blink of an eye.

rich_text    
Drag to rearrange sections
Rich Text Content
rich_text    

Page Comments