Wealth Management

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Paul Tracy

Paul has been a respected figure in the financial markets for more than two decades.

Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers. While there, Paul authored and edited thousands of financial research briefs, was published on Nasdaq. com, Yahoo Finance, and dozens of other prominent media outlets, and appeared as a guest expert at prominent radio shows and i...

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Updated August 5, 2020

What is Wealth Management?

Wealth management is an investment advisory service for high net worth individuals.

How Does Wealth Management Work?

Wealth management combines both financial planning and specialized financial services, including personal retail banking services, estate planning, legal and tax advice, and investment management services.  
The goal of wealth management is to sustain and grow long-term wealth.  The net worth needed to qualify for wealth management services vary among institutions, but the net worth threshold typically starts at about $20 million. Also, depending on the institution, the range of services available is highly customizable in order to meet the specific needs of the client.

Why Does Wealth Management Matter?

Wealth management clients are highly sought after by financial institutions and financial service companies.  Many banks that combine traditional banking and wealth management services have specialized sales and service teams to specifically cater to wealth management clients.

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