Wealth Management

Business, Legal & Accounting Glossary

Definition: Wealth Management


Quick Summary of Wealth Management


Wealth Management is an area of finance which covers all aspects of financial planning and private banking for High Net-worth Individuals with sizable assets. Banks, brokerages, and professional trust companies offer services including options for investment (portfolio) management, retail banking, accounting & tax services, estate planning and legal counsel, all from one office. These services are provided by wealth managers, who are financial advisory specialists holding credentials such as Chartered Financial Analyst (CFA), Certified Financial Planner (CFP), Chartered Strategic Wealth Professional (CSWP), or MBA.




What is the dictionary definition of Wealth Management?

Dictionary Definition


Wealth Management is the practice of offering high net-worth individuals (or organisations) investment management and financial advice, alongside estate and tax-planning services as part of a unified professional service.


Full Definition of Wealth Management


Wealth Management is an area of finance which covers all aspects of financial planning and private banking for High Net-worth Individuals with sizable assets.

In recent years this part of the financial sector has grown rapidly as a result of an increase in the number of wealthy individuals across the world.

Banks, brokerages, and professional trust companies offer services including options for investment (portfolio) management, retail banking, accounting & tax services, estate planning and legal counsel, all from one office. These services are provided by wealth managers, who are financial advisory specialists holding credentials such as Chartered Financial Analyst (CFA), Certified Financial Planner (CFP), Chartered Strategic Wealth Professional (CSWP), or MBA.


Examples of Wealth Management in a sentence


I met with my banks wealth management department, but I was totally unprepared for how expensive their fees would be.
The wealth management strategy employed by the financial adviser for his client was exceptionally excellent as the investments were diverse.
The wealth management landscape starkly contrasts other banking areas such as fixed income, currencies and commodities.


Synonyms For Wealth Management


asset management, heritage management, portfolio management, management of assets, wealth management business

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Wealth Management. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/wealth-management/ (accessed: September 28, 2021).
American Psychological Association (APA):
Wealth Management. PayrollHeaven.com. Retrieved September 28, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/wealth-management/

Definition Sources


Definitions for Wealth Management are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 5 Views.