What is wealth management?

finance related question. related to high net worth individual

5 Answers

  • 1 decade ago
    Favorite Answer

    Affluent individuals who practice wealth management often seek or self-teach themselves strategically to capitalize on opportunities to preserve, grow and transfer their personal wealth. In addition, a desire exists within wealthy families to simplify the management of multigenerational needs and lessen the profound emotional impact of wealth on family members. Asset management is a vital component of wealth management and individuals should always be asking themselves questions about gross asset allocation, growth of capital, tax-sensitive asset management opportunities (penalties), and most common in America, real (private) equity. Have you read Rich Dad, Poor Dad? Great book.

  • Anonymous
    1 decade ago

    Wealth management is a high level form of private banking that provides the various types of investment, insurance and bank products and services.

    Wealth Management is a term that orginated in the 1990s in the United States within Broker Dealers, Banks, and Insurance Companies. Wealth Management has generally evolved from high net worth financial consulting for persons who are top clients of any firm. Wealth Management is classified as an advanced type of financial planning that provides individuals and even families with private banking, estate planning, asset management, legal service resources, trust management, investment management, taxation advice, and portfolio management. Wealth Management is sometimes referred to as private wealth management. Persons engaged in wealth management usually work for brokerage firms, large banks, trust departments, or investment and portfolio management firms. Boutique firms such as a Registered Investment Advisor also tend to provide a wide array of family office services.

  • 1 decade ago

    This includes resources that can be converted into tangible asset called money/currency/cash at the least possible cost !

  • 1 decade ago

    you are managing your own money, like for example you work you get paid and you get lots of money from savings and you must manage it like you put some in banks, some you invest in any things, some you keep at home for monthly bills, etc

  • How do you think about the answers? You can sign in to vote the answer.
Still have questions? Get your answers by asking now.