A Wealth Manager offers immensely personalized services to high net worth clients. These services include financial planning, investment advice, accounting/tax services, retirement planning and legal/estate planning.
The goal of a Wealth Manager is to evaluate their client’s needs and help them to sustain and grow their wealth over a long period of time. Because of the customization of services, Wealth Managers have only a few clients. This allows them to provide attention and time to analyze and develop financial strategies for each of their clients, as well as working with other professionals (lawyers, accountants) the client employs.
High net worth clients vary between Wealth Managers some will accept clients with a net worth of $1 million or more and others require their clients to have above a $5 and $10 million net worth.