On the flip side, assets under management (AUM) are those assets that financial advisors or institutions actively manage on behalf of a client, on either a discretionary or a non-discretionary basis.

Wealth in the U.S. is on the rise. Between 2019 and 2022, median U.S. family wealth increased by 8%—from $466,500 to $504,000, according to the Congressional Budget Office. This news is music to ...

While financial advisors and accountants might seem similar, there are some big differences in the services they provide. Here are some of the key differences between the two.