Wealth Management is more than Financial Planning ……

Wealth Management is becoming the new term for Financial Planning but I believe this is an incorrect use of the term.

A Wealth Manager is a term used to refer to a person who is trained and qualified to manage another person’s overall wealth.

Portfolio Management is only a small part of Wealth Management and in itself does not qualify an individual to be a Wealth Manager.

Currently, because Wealth Management has a good ring to it Financial Planners are starting to refer to themselves as Wealth Managers but again – this is an incorrect use of the term.

My ultimate responsibility at all times was to not only to build but also to preserve my client’s wealth.
Now, THAT is Wealth Management!