Brokerage firms usually require account minimums of at least $2 million, $5 million or even $10 million just to qualify for their wealth management services. That’s a pretty high price of admission! But you don’t need to have millions of dollars sitting in your investment accounts to get some financial help.
Keeping this in consideration, how do private wealth managers make money?
Wealth management can help individuals make decisions related to investing, retirement and estate planning, taxes, accounting, and much more. Wealth managers usually earn money by charging a commission based on a percentage of the assets they manage.
Also, who is Bernstein Financial?
Bernstein was founded 50 years ago to manage money for families and individuals. We’re exclusively focused on investment research and management; we don’t engage in investment banking and proprietary trading, so we don’t face the conflicts of interest such businesses pose for other firms. …