Definition.

Funny how you can always tell when College Term has started.

It's not for college whatsoever. Sorry, your assumption is wrong, but I'll give you credit for trying to be smart. :P

Read an article on the structure of a financial corp. and there were figures for these different departments. So I'm just wondering whats the difference.

R>

Sorry, no. I'd just be guessing.

I could be talking out or my ass (and I'm willing to be accused of such) but the definition may simply depend on who you talk to.

I would make a distinction though:

Wealth is accumulated "stuff". It can be cash, bonds, real estate, shares, intellectual property rights etc etc etc.

Assets are those aspects of my wealth that ADD to my wealth. For instance a big house is part of my wealth but isn't an asset (it COSTS money to own, so it's a Liability). A high-interest savings account on the other hand is an asset because it ADDS money to the pot. A house might become an asset however if it rises in value sufficiently so that I can sell it on at a profit.

That's based purely on limited reading on the subject, but it make sense to me.

As for Investment Banking, not sure since I've never read anything about it :-P

Cheers

Bennett

Thanks Nick for your input.

The definition of asset in Oxford Dictionary is

- ORIGIN C16 (in the pl. in the sense 'sufficient estate to allow discharge of a will'): from Anglo-Norman Fr., from OFr. asez 'enough', based on L. ad 'to' + satis 'enough'. [Unquote]

Seems like the big house (property) is regarded as an asset. :(

Now I'm as curious as a cat. Any kind investment banker care to explain? ermmm .. kind banker?? Probably non-existent. LOL

It may well depend on the usage of a particular organisation, but it's quite likely that wealth management refers to services for individual wealthy clients, whereas asset management is bulk fund management, e.g. unit trusts. Investment banking generally refers to services relating to large companies, e.g. issuing corporate bonds.

I think (no promises here)...

Investment bankers do stuff like advise companies on share issues, corporate financing and stuff like that they also give advice on buying/selling investments

Wealth management is about taking stock of an individuals assets and advising on what to put where in a global way. i.e. contribute some to a pension, put some in a unit trust and some at the bank, etc.

Asset management is the management of assets. i.e. an equity unit trust manager is an asset manager. Therefore asset managers manage assets whereas a wealth manager might give advice on how an individual might spread their wealth between different types of asset.

Gary