Private wealth management is an investment advisory practice that incorporates financial planning, portfolio management and other aggregated financial services for individuals, as opposed to corporations, trusts, funds, or other institutional investors. From the client's perspective, private wealth management is the practice of solving or enhancing their financial situation and achieving short-, medium-, and long-term financial goals with the help of a financial adviser.
From the financial adviser's perspective, private wealth management is the practice of delivering a full range of financial products and services to clients, so that those clients can achieve specific financial goals.