What is a Wealth Manager?

A wealth Manager has the task of a financial advisor only that they cater to high net worth and ultra-high- net worth individuals. A wealth managers task is comprehensive and intricate and they are responsible for coming up with sound business advise.

A wealth advisor is responsible for understanding the entirety of what is the best thing to do with the current wealth their client has. This means they need to know their client on a personal level, and the innermost details of their wealthy clients life, so that they can arrange the best investment management and financial planning guide for them to follow. A wealth manager’s approach is holistic, they also handle the accounting as well as tax services, retirement planning and estate planing of their high net worth client.

What Is Wealth Management?

Wealth management offers a holistic approach, it is an entire system that effectively handles a person’s financial management needs. It is a single package that was created to address the needs of an individual’s financial life. A wealthy person has many advisors, from accounts, insurance agents to lawyers but it is the wealth manager that will make sense of it all. The goal of the wealth manager is to make sure that the wealthy client preserves their wealth in the longest possible term.

Most banks in the United States offer wealth management services. In 2017, Barron’s ranked as the Best Wealth and Investment Management firm. Other wealth management services providers would include Bank of America Global Wealth & Investment Management, UBS Wealth Management and J.P Morgan Private Bank.

What Can A Wealth Manager Do For You?

An expert wealth manager has a range of personalized services that they can provide. They are greatly adept in handling individual financial goals and situation. Wealth managers can provide investment advice, financial planning, trust services, estate planning, tax strategies, family legacy planning, philanthropic planning, legal planning, banking services and retirement planning.

Who Do Wealth Managers Serve?

Billionaires like Elon Musk, Bill Gates, Jeff Bezos have their own private wealth managers. In the past, only the ultra high net worth can avail of such services but in the recent years, a person who has $750,000 can get the services of a wealth manager.


Wealth managers also serve families and foundations. A wealth manager will typically require a certain amount of investable assets before they agree to take a client on. Account will vary from one wealth manager to another. For example, Merrill Lynch Wealth Management, requires clients to have at least $250,000 of investable assets before they take them on. But the top New York Wealth Management advisors usually require $10 million account as their minimum.

A wealth manager by standard usually charges clients 1% of assets annually, but they can charge lesser depending on relationship and agreement. There are other wealth managers that charge fixed annual fees or hourly fees. The base pay for a wealth manager in the United States is $94,000.

Nouveau riche or New Rich 

Nouveau riche or New rich particularly celebrities or Sports icon who suddenly have millions or billions in their hands would not typically know what to do with so much money. Most newly rich families or celebrities have acquired their wealth in a short span of time, not giving them substantial time to learn about how to protect their wealth. The rise of newly rich Asians has also inspired the entry of wealth managers in the picture.

F. Scott Fitzgerald famously said: “Let me tell you about the very rich. They are very different from you and me.” We live in America, the land of opportunity, but you have old money families and new money in your own area

Most people with New Money don’t know how to do capital preservation, unlike the Old Rich who were trained to be a steward of their family’s wealth for future generations. Most people with New Money will require the careful assistance of a Wealth Manager that understands both old and new money.

The rise of the new wealthy in Asia and the increasing number of middle class families in Asia is a positive sign. Without a doubt Asia is rising, and there will be a need for an ultimate playbook , guide and system for how to network and manage money for rich individuals.

Wealth Managers in Asia are up to the task and are now using connections to win business from the elite endowments and foundations that are supported by wealthy people. The high net worth set up in Silicon Valley is very different from that of the high net worth in Singapore, China, Malaysia and the Philippines. Today wealth managers are combining the knowledge of the old rich and tech rich. A lot of newly rich individuals are now composed of young engineers and computer scientist and affiliate marketers and they will drive the growth and client base of wealth management.


In the Philippines alone, many will rise and become tech moguls, there is a tech boom, increasing the number of venture capitalists and private equity executives. More partnerships will be created as a result, and more luxury brands, marketers and wealth management services would be created in countries like Thailand, Malaysia and the Philippines.

Biggest Gathering of Wealth Managers and Lifestyle Managers in Manila

Philippine Luxury Meetup- July 2019

Moola Forum is the network for Luxury Marketers.

Asia’s premier Luxury Marketing community for luxury lifestyle consultants & private wealth advisers to high-net-worth individuals.

Philippine Luxury Meetup – July 2019 is a Local Luxury Meetup in the Philippines that will feature official announcement about the “Philippine Luxury Conference 2019” and Q&A portion with Moola Forum regarding the Luxury Conferences in Asia as well as the International Luxury Conferences worldwide.

This 4-hour meetup also features meeting with different luxury lifestyle consultants and private wealth advisers to high net-worth individuals in the Philippines, representatives from various luxury brands, founders and owners of new luxury providers, luxury marketers, and HNWIs.

Who should attend?

If you work in advertising and marketing for these industries, you should attend Philippine Luxury Meetup – July 2019:

  • Personal Luxury Goods
    • Luxury Fashion
    • Luxury Jewelry
    • Luxury Beauty
  • Luxury Cars
  • Luxury Hospitality
  • Fine Wines & Spirits
  • Gourmet Food & Fine Dining
  • Fine Art
  • Design Furniture and Housewares
  • Private Jets, Choppers, Yachts
  • Private Security (Executive Protection) for Executives & Families
  • Business Technology for Executives

The Philippine Luxury Meetup is not open for everyone. It is a by invitation forum only. The Moola Forum organizers reserves the right to refuse selling tickets to anyone they believe is not qualified for the exclusive meetup.

Discover: http://www.moolaforum.com

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