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FinancialADVSR

Est. 2026The front page of wealth managementNew York

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Wealth management

The firms and financial advisors that manage money for individuals and families, and the business behind them.

Wealth management is advice on the whole of a client’s financial life: investments, plus the planning around them, such as retirement, tax, estate, insurance and charitable giving. It is delivered by registered investment advisers, wirehouses and regional broker-dealers, banks and trust companies, independent broker-dealers and multi-family offices.

The business is changing quickly. Independent RIAs keep gaining advisors and assets from the large brokerage firms, private equity has made consolidators some of the biggest buyers of advisory firms, and custody, technology and pricing are being remade around fee-based advice.

Financial ADVSR covers wealth management as a business: who is hiring and losing advisors, who is buying whom, what firms charge and what regulators require, with SEC records on every registered firm and financial advisor.

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Questions

What is wealth management?

Advice on a client’s whole financial life, combining investment management with planning such as retirement, tax, estate, insurance and charitable giving. It is usually priced as a percentage of assets managed, a flat or retainer fee, or a mix.

Who provides wealth management?

Registered investment advisers, wirehouses and regional broker-dealers, banks and trust companies, independent broker-dealers and multi-family offices. Many advisors are registered with both an investment adviser and a broker-dealer.

Is wealth management regulated?

The title is not regulated, but the activity is. Firms that give investment advice for pay register as investment advisers with the SEC or the states and owe clients a fiduciary duty; brokers register with FINRA and follow Regulation Best Interest.

How do I check a wealth management firm?

Look the firm up on the SEC’s Investment Adviser Public Disclosure site or FINRA BrokerCheck, read its Form ADV brochure and Form CRS relationship summary, and check the individual advisor’s record as well.