What is a difference between wealth management asset management?

Answer 1

Asset management refers to providing investment products & advisory services to individual clients & institutional investors.

Wealth management refers to specialized services provided to meet the wealth planning, investing & financial management needs of Wealthy & High Net Worth individuals.

The factors that differentiate WM from Asset management are:

1) The uniqueness of relationship between the WM & the client. It is all encompassing in terms of the financial needs & values & priorities of the Client.

2) The range of products & services provided to WM clients from estate planning, tax strategy to liability management & Alternative investment products.

3) Understanding the specific goals/objectives of wealthy clients.