A financial advisor provides wealth management services to assist wealthy individuals in investing and growing their money. The wealth manager consults with clients to study their circumstances before offering specific financial services or products and assembling a team of experts to assist.
Wealth management incorporates financial planning, investment portfolio management, retail banking, estate planning, legal resources and tax professionals. Wealth managers devise strategies for the transfer of assets at the end of a client’s life and employ portfolio management techniques that minimize taxes and maximize after-tax returns. Small-business owners and families who require a credentialed financial advisory specialist also employ wealth managers to coordinate their financial activities.