Wealth advice is a high-level financial service that encompasses all aspects of a client’s finances, including investment management, tax planning and estate planning. A wealth manager is a professional who oversees these diverse needs of affluent clients and typically charges a flat fee based on assets under management (AUM).

The role of a wealth advisor is to provide holistic guidance and help private individuals achieve their financial goals. This involves creating and implementing comprehensive financial plans, investing capital in diversified asset classes to manage risk, and providing guidance on complex topics such as tax strategy and philanthropic giving.

Wealth Advice: Expert Tips for Growing and Managing Assets

A wealth advisor will work closely with a client to understand their financial situation and goals, helping them develop and stick to a long-term plan. They will also help them navigate complex situations such as sudden wealth or divorce.

Choosing the right advisor is an important decision. To choose a wealth advisor that’s the best fit, consider their investment philosophy and areas of expertise. Then meet with potential advisors to make sure you feel comfortable with their style.

The advisors in our Schwab Advisor Network offer discretionary investment management services, as well as a variety of other brokerage and custodial services, for a flat fee. They are independent financial professionals who are required to satisfy certain minimum credentials, including certification as a financial planner (CFP®) or registered investment advisor, and are subject to the same regulatory oversight as all Schwab brokers and custodians.