Wealth Management FAQs What is wealth management? Wealth management is a comprehensive approach to managing the finances of affluent individuals. It covers everything from investment selection and portfolio management to retirement planning and tax law. What is an example of wealth management? Consider an individual with a substantial net worth as an example. This guy owns stakes in two enterprises and $5 million in investable assets. After years of managing their fortune on their own, this individual chooses to employ a wealth management firm. Typically, this requires a team of individuals with diverse areas of expertise. These professionals may devise a strategy to maximize the client's wealth and deploy their assets to achieve their goals. Is wealth management worth it? It depends on an individual's circumstances. Wealth management might be worth it if you have a complex financial situation. However, if you are comfortable managing your finances, then there are other options available for you. What are the different wealth management services available? Depending on the client’s needs, wealth management services can include financial planning, investment management, tax advice, and estate planning. Who needs wealth management? High-net-worth people must have access to an expert wealth manager who can give direction on investment possibilities, asset diversification, future planning, the management of future tax implications in the case of asset transfer, personal retirement finance, and much more. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.