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The term "wealth management business" refers to a securities firm, through its associated persons, providing a high net worth customer with the following services according to the demands of the customer:
- 1. Consulting in connection with asset allocation or financial planning, or services in connection with the sale of financial products..
- 2. Conducting financial planning and the execution or handling of asset allocation on behalf of the customer by means of a trust.
Each individual securities firm sets its own criteria, based on its operational strategies, or with reference to the criteria for professional investors under Article 3 of the Regulations Governing Offshore Structured Products, for what constitutes a "high net worth customer" as set out in the preceding paragraph.
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