The Private Wealth Management Industry

Free CFA Level III: Private Wealth lesson in Private Wealth Management Industry. 20 min read, ~3,049 words.

Five dominant models (private banks, wirehouses, independent broker-dealers, RIAs, family offices) are segmented by economics, not prestige; each pairs custody, advice, and product to a wealth tier. Fees fall into four buckets: AUM percentage (default), fixed retainer, performance (rare outside UHNW), and commission; AUM adds an asset-gathering bias against payoffs...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Check Your Understanding
• Exam Shortcuts

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