What is Wealth Management?

[Suba]

Wealth management is a bank service to manage personal or family finances that includes investment planning, asset development, tax payment planning, debt management, risk management, and asset allocation. There are three main types of wealth management such as: Wealth protection and preservation, Wealth distribution and transition, Wealth growth and accumulation. Here are some types of wealth management services that you can find such as: insurance, hedge funds, Trust funds, Business ventures, investment management, estate management or inheritance management.

 

[Springtime]

Yes, banks offer wealth management service as you described but you have to maintain a pretty high balance in your account to enjoy the service.

 

[King Belieal]

Even investment companies also offer wealth management services. They charge a fee for the service as charges.

 

[arunima25]

Investment companies and banks ( you need to be their premium or priority customer) provide wealth management services. If you are with your bank, having a good amount in your account, you can enjoy the service for free through your relationship manager.
Even investment companies give this service for a very nominal annual fees.