Wealth management is a term that is usually applicable to very affluent, high net worth individuals. The terms financial planning and investment portfolio management are all a part of wealth management services. Wealth managers offer professional services such as financial/investment advice, tax and accounting services and legal/estate planning, all for a single fixed fee. Apart from banks and financial institutions that offer wealth management services, individuals such as Certified Financial Planners, MBAs and CFA Charterholders also serve as wealth managers. Typically speaking, wealth management is a high level of private banking service for the economically affluent section of a country’s population. Management of trusts or estates, stock option planning and utilisation of hedging derivatives all fall under the broad category of wealth management. Hide this