Wealth managers come in many different forms. It is even difficult to generalise about one category of wealth manager. Some private banks or financial advisers, for example, will offer a more personal and comprehensive service than their competitors.

In choosing a wealth manager, what is important is the chemistry between you and the wealth manager, whether you trust the wealth manager, whether he or she is best placed to help you meet your financial goals and his or her relationship with other wealth managers you may need to use.  

Some wealth managers attempt to be generalists in that they offer to advise you on all your financial planning requirements. Others are specialists in particular parts of the wealth management process, such as discretionary asset managers and trust companies.