The term “wealth management,” while commonly used, can be difficult to define clearly. In some instances, it is perspective that forms the substance of the term’s meaning. For a client, wealth management is the ability of a planner to enhance their financial position. For a planner, it is the ability to deliver a number of financial services in a consultative manner. For planners, the key part of wealth management is the consultative nature of the process. By proving detailed and tailored information to each unique client, the planner is much better able to help their clients achieve their goals for their financial plans.
See Russ Alan Prince, What Is Wealth Management?, Forbes, May 16, 2017.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
