Is wealth management the same as asset management?

Asset management seeks to leverage an individual’s investments in order to maximize overall returns. To manage a client’s investable assets, asset management typically focuses on proprietary expertise.

Wealth management teams often include experts from fields other than traditional investing, such as lawyers and accountants. The focus of wealth management is more holistic, as it seeks to maximize and protect a client’s overall financial health over time.

Generally, wealth management is the same as asset management, however it takes a broader view. Wealth management includes asset management and financial planning for clients.