We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Education

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What is Wealth Management Consulting?

By Christine Hudson
Updated: May 17, 2024
Views: 5,414
Share

Wealth management consulting is the process of helping a business or individual build, grow, and maintain finances. The term “wealth” indicates an abundance of money and cash value assets, so wealth management consulting tends to concentrate on this area. It can help a person learn how to create wealth, what to do with it to save or grow it and plan where it will go in the event of divorce or death.

Almost everyone who has a financial portfolio may have a need for wealth management consulting in his or her life. A life change such as marriage may mean a person needs to plan what happens to his finances. Creating a will means another person may need to plan where her estate and money will go in the event that she dies. Even if a person does not have a particular life change and just wishes to learn how he or she can grow wealth for retirement or a rainy day, wealth management consulting can help.

There are many wealth management consulting companies and agents around the world. Generally, a firm or consultant will offer services in exchange for a set fee. This type of consulting usually involves sessions in which the consultant offers advice on how best to "move" financial assets. Other types of consultants will help an individual or business grow the wealth in exchange for a certain percentage of the profit. This means that the consultant or firm would want their client's wealth to grow, because they will only earn when it does.

Many times, wealth management consulting involves distributing whatever amount of money a person has through several savings and investment options. There are many options for saving and investing, so a plan is generally formed around what is best for each individual. These decisions can be based on what that person has to start with, what he wants to end with, and the speed of growth or risk he is interested in.

Wealth management consulting may help many businesses learn how to grow their wealth and what to do with it once they have it. This consulting can last for a very long time or could only involve a few sessions of advice, depending on the type of consulting desired.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

Editors' Picks

Discussion Comments
Share
https://www.wisegeek.net/what-is-wealth-management-consulting.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.