What Is The Difference Between Investment Management And Wealth Management?

 

 

Investment management and wealth management – it is easy to be confused by these terms, especially since they are often misrepresented. What do they really mean, what are the key differences, and which might be best for you?

 

What is wealth management?

 

Wealth management looks at an individual’s finances as a whole and how they can be managed to achieve their long-term financial and personal goals. In addition to handling clients’ investments, wealth management encompasses a wide set of services, such as legal planning, insurance, accounting, and financial, charitable giving, and tax advice.

 

There are higher minimum asset thresholds, and one can expect to pay higher fees for the more comprehensive service. Although a good manager could justify this through the savings their service provides.

 

Advantages of wealth management

 

As wealth managers offer many of the services of an investment manager, their clients gain the same benefits. However, the additional services on offer mean that wealth management can provide further advantages.