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What Is a True Wealth Manager?


Currently, 70% of individuals in financial services hold themselves out as Wealth Managers; yet only 7% actually do more than investment management. Clients and prospects do not understand that a true Wealth Manager is someone who helps their clients with all aspects of their personal finance, including: financial, charitable, estate, insurance and tax planning as well as coordinating with a family’s other key advisors.

Most “Wealth Managers” specifically state they are not providing the services outlined above.

As an industry, we have done a poor job getting clients to expect anything more than pure investment advice from their financial advisors.

David Clayman, Twelve Points Wealth Management

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