difference between investment management and wealth management?

Hi All,

What's the difference between those two? Is investment management/private wealth similar to Asset Management?
Thank you!

 

Does Asset Management imply that the asset manager makes the decisions with the assets rather than recommending them to the client and the client giving them the go ahead to do so? I'm working for a self-described investment advisory firm and we handle the movement of money to the different funds we invest in but don't do so without first pitching funds to clients.

 
Best Response

at the simplest level, you are giving guidance/making decisions on people's money, either on a discretionary or non discretionary basis. what you described is non discretionary (need client approval) wealth management (aka PWM).

you guys are reading too much into this. investment/Asset Management are too broad. you could say PWM is asset management, you could also say a hedge fund is Asset Management, yet the two are completely different. a better question would be "what are all the areas of asset/investment management?" which happens to be in the FAQ.

 

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