Asset Management vs. Private Wealth

Although asset management vs. private wealth management has a few key similarities:

• Shared goals - seek to maximize the value of their client's assets and help them achieve their financial goals;
• use of a client-centered approach;
• long-term relationships.

Private wealth management and asset management differ in their focus: they manage and invest in different asset classes, or they focus on growing and preserving clients' wealth while addressing a broader range of objectives, including retirement and estate planning, tax strategies, and investment portfolio management.

Trends in private wealth management

According to a new PricewaterhouseCoopers (PwC) study, assets under management in the private wealth markets are expected to grow from $4.2 trillion to $5.5 trillion by 2025.

Global trends and changing client expectations have created a new system of private wealth management that provides for increased personalization, transparency, and the use of modern technologies.

Clients' portfolios are developed considering their personal investment preferences and goals. Asset management firms apply risk management tools based on advanced technologies to collect extensive market data and perform analytical calculations.