Maybe you’re one of them. Do you feel the same way?
Many of the financial advisors I speak with are tiring of the overuse of the term “wealth management”.
From tag lines to commercials and from big firms to independent practitioners, it seems every sector of the financial services industry wants to find a way to get into the wealth management business.
I believe this is a very worthy goal.
And though the terminology, at least from a popular perspective, is relatively new, most of the true professionals I know have been managing wealth for many years.
If you are a stockbroker, financial planner, insurance specialist or banker, your commitment to helping clients accumulate, grow, protect and transfer wealth means you are practicing wealth management.
Whether you produce fees or commissions or have salary and bonus compensation, your ability to take complex financial needs and translate them into personally tailored client solutions makes you a wealth manager.
Assuming you accept this brief argument for defining your work as wealth management, you are on your way to overcoming the stigma of this overused term.