What is the Difference Between Wealth Management and Investment Management?

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What is the Difference between Wealth Management and Investment Management?

A competent wealth manager will create an asset allocation designed to meet your investment goals. Part or all of this asset allocation would be managed by investment managers. Those investment managers could be internal or external to the wealth management firm.

For example, the asset allocation devoted to stocks might be managed by managers internal to the firm or an external mutual fund company or exchange traded fund company.

In summary, investment management is a subset or subfuntion of wealth management that can be performed inside the firm (for example, a bank that contains an investment arm) or outsourced outside of the wealth management firm.