Theoretically, Financial Specialists can provide most financial services in existence. In reality most Financial Specialists specialize in wealth accumulation strategies they feel most comfortable with.
A further defining quality of wealth management is that it is delivered in a consultative manner. By being consultative, Financial Specialists are truly client-centered. A good Financial Specialist meets a client without any presupposition about what financial products or services are appropriate for that individual.
While it is common for an individual to be sitting with a Financial Specialist to address a particular need (tax strategies, say), the consultative Financial Specialist’s overriding objective is to understand the person and find out what’s important and why. Then the Financial Specialist is able to bring in the appropriate experts and provide the appropriate financial services.