May 13, 2016
Broker vs Wealth Manager

Broker vs Wealth Manager – Financially Simple

Broker vs Wealth Manager Financial advisor, financial planner, broker, wealth manager, investment advisor, stock broker, and agent: don’t they just perform the same scope of work? It is true that the financial world has done a very good job of confusing the populous. Then, to add to the confusion, when one starts to examine this alphabet soup within the financial world, the distinction between these different titles often creates even greater confusion. Perhaps this is an over-simplified answer to the question, but this is a good general rule and a great starting point in your attempt to identify just the right financial person for your specific financial need. A broker typically focuses on a small component of your financial life, while a true wealth manager looks at the complete picture. Think of it in terms of your personal financial statement (PFS), which reflects your total assets and liabilities. Many brokers spend the majority of their time on the asset side of the PFS. They are concerned with your investment accounts, retirement accounts, and maybe savings accounts. This is the limited area where most brokers focus their attention; although you may find a broker who will look at the risk to […]