Wealth management is a type of investment advisory service that combines various financial services to meet the demands of high-net-worth individuals. The adviser gathers information about the client’s objectives and unique circumstances through a consultative approach, and then creates a tailored strategy that incorporates a variety of financial products and services.
Within wealth management, a holistic approach is frequently used. A wide range of services, such as investment advice, estate planning, accounting, retirement, and tax services, may be given to satisfy a client’s complicated needs. While price structures for complete wealth management services vary, costs are usually dependent on the amount of money a customer has under management (AUM).