What's the difference between wealth management and asset management

 



Wealth management and asset management are occasionally interchangeable terms around the same topic: growing and preserving wealth. But don't be misled into thinking they're the same thing as their execution is different in different contexts. There are no unified definitions across the industry to reduce complexity. The lines between asset management and wealth management are blurred. A wealth planning strategy is the baseline for the implementation of wealth management services. Each service component should be best-in-class, cost-efficient, and cost-effective. Technology can bring the best of specialized wealth and asset management providers together for individualized results.

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