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It is a company that handles a clients assets and income. Clients with 1 million and more.
Sassy is correct, except that some W&A firms will take income of 100k and up.
Easy way is the brokerage/financial planner/CPA and others who manage finaqnces for individual. Asset management is used for large property owners. The properties are managed to keep the cash flow coming and keeping all properties in graet physical condition.