Finance management is a crucial aspect of any business or personal account. Financial advisors and institutional firms are experts in several fields, but they may differ in their specialty. For example, asset management teams and wealth management teams may better suit different situations.

So, how do you know whether asset management or wealth management is right for you or your business? Our trusted wealth management team in Cedar Park, TX, will break down the two to help you better understand their differences. From there, you’ll be able to make an informed decision for yourself or your company. 

If wealth management is the best financial path for you, you need the best wealth management advisors in Cedar Park, TX . Momentum Private Wealth Management has a CERTIFIED FINANCIAL PLANNER™ professional waiting to help you on this path.

Asset Management 

Asset management primarily deals with investments. If you have funds in your personal or business account that you wish to invest, asset managers can handle that process for you. This includes opening accounts, choosing investments, and placing trades.

Along the way, an asset manager will walk you through risk levels and allocate your funds or assets to different stocks and bonds. An asset manager’s primary goal is to maximize your returns through various investments.

Wealth Management

Wealth management is somewhat more comprehensive than asset management. Instead of looking mainly at investments, which can often have shorter-term goals, wealth managers think about the best way to utilize, save, and invest your funds for the rest of your life. 

Included under the wealth management umbrella are things like: 

• Risk management
• Insurance protection
• Stocks and bonds
• Retirement planning
• Estate and succession planning
• And many others

Wealth management aims to be all-encompassing, accounting for every current and future aspect of your financial life.

What’s the Better Option for Me?

So what’s a more suitable option for you, asset management or wealth management? To answer this, it is important to understand that asset managers just manage your assets. They do not provide any other advice or take any unique circumstances into consideration. They might be your best route if you truly only need assistance with investment management. Individuals and companies that opt for asset management typically handle a large portion of finance management themselves or already have other advisors specializing in specific financial fields.

If that’s not the case, then wealth management is the correct choice. One misconception is that you’ll pay higher fees to wealth managers - this is not always true. In fact, the wealth management fee with Momentum Private Wealth Management is often lower than the basic asset management fee charged by other firms and advisors. If you need more comprehensive planning and advice, you should choose wealth management over asset management. You’ll have experts working in every aspect of your financial life and creating a comprehensive financial plan for better results.

Expert wealth management advisors like the team at Momentum Private Wealth Management will help you every step of the way to ensure you feel comfortable and confident in your final decisions.

Trusted Wealth Management Advisors in Cedar Park, TX

Financial planning can be daunting. Fortunately, it’s not something you have to do on your own. The trusted CERTIFIED FINANCIAL PLANNER™ professional in Cedar Park, TX, at Momentum Private Wealth Management has the knowledge and experience to assist you. Our financial advisors work with proven lawyers, accountants, and other relevant professionals to ensure every piece of advice and every financial plan is thorough and effective.

Call Momentum Private Wealth Management at 512-416-8085 , speak to a CERTIFIED FINANCIAL PLANNER™ professional, and get started down a path towards better financial security.