What is the Difference between Islamic Wealth and Asset Management?

Some readers may be confused by the often interchangeable use of Islamic wealth and Islamic asset management. Conventionally there is a difference. Wealth management often refers to professionally managing the wealth of an individual or a family. Asset management means investing for an institutional client, such as a pension fund or waqf or a bank’s treasury department. However, whatever the name there is no essential difference between the two. Professional asset management involves the same rules, processes and results whether for individual or institutional savers. This equally applies to Islamic wealth and asset management.