3 Different Kinds of Wealth Management Services


The concept of enlisting the aid of wealth management services is a growing trend. It seems that building wealth is on the minds of everyone these days, but while everyone is trying to reach that financial windfall, only a few seem to have mastered the skills in getting it. There is no shortage of advice to tell you what to do or how to do it but finding the right person that can tap into your dreams and personal skills to make it happen is not always that easy. That’s why people choose to hire planners to help them reach their financial goals. Here are a few types of financial professionals that may be able to help find your way on the road to success.


There are several different types of brokers to choose ranging from insurance to stockbrokers depending on your financial interests. They are sometimes called agents, advisors and serve to help you in obtaining some type of product by buying or selling a security of some kind. Their success is directly tied to your success because they work on a commission basis. If you don’t make money, they don’t make money. Choosing one of these to guide you could lead to your success as long as you make sure that they are working as advisors and do not consider their commission so much that they become salespeople rather than financial managers.

Wealth Manager

This individual works as a fee-based advisor and is usually paid a percentage of the assets they have been hired to manage. They will usually work very closely with their clients and make adjustments to their portfolios as they go through life and their circumstances change. They can advise you on any number of topics including real estate, retirement plans, stock options and others.

Financial Planner

Financial planners usually work by the hour or by the project; their job is to help you to create a plan for your future. They often take an unbiased view about your wealth and financial position and are more open to share their insight with less wealthy clients.

Whether you find your financial guru through your bank or some other private institution, it helps to know the roles of each one so that you can choose wisely. Hiring wealth management services can make a major difference in planning for your financial future, but you need to understand clearly the differences in the services they offer so that you can find the right person for your financial future.