When you hear the phrase "wealth investment management," you may picture an aging, expensively dressed, bejeweled dowager with blue hair, calling upon her trusted advisor for counseling on the investment of her stock portfolio.
But wealth investment management is much more than that. Also known as portfolio management and private banking, the service is comprised of customized, sophisticated strategies and solutions for clients who have significant assets and complicated financial lives.
Such specialized planning requires the skill of a highly trained, accredited advisor who manages the various securities and assets of institutions and private investors in order to help meet the client's specific investment objectives.
Under the catchall designation of "investment management services" the advisor manages and guides the client in asset selection, stock selection, plan implementation and the ongoing monitoring of investments.
A careful wealth manager or advisor considers every aspect of each client's financial life and status in order to provide customized financial strategies and wealth management advice, products and services. Most of the assets managed in this way are attributed to clients who have investable assets of $1 million or more.
For large or complex accounts there is often a customized team working with the advisor. Institutions--meaning foundations, pension funds, insurance companies and so forth--often have designated teams, headed by the advisor, working on their accounts.
Investment management is a large and important global industry in its own right, responsible for the care of trillions of dollars, euro, pounds and yen. Under the blanket of 'financial services' many of the world's largest companies function in part as investment managers. These companies employ millions of staff and create billions of dollars in revenue.
A global wealth management group provides a range of services. It will typically minister to individuals, small- and mid-size businesses and employee benefit plans.
If you are so fortunate as to need assistance in managing your assets, you'll find that there are many companies vying for your business. No one knows better than you that there is a lot of money at stake, so choose wisely.