If all a wealth manager does is keep longevity and inflation risk in check for a client, the manager is covering important bases.

FORBES: Is Your Adviser Working as Your Chief Risk Officer (CRO)? Part I: The Importance of Managing Investment Risk

The general rule under the federal and state securities laws is that a fiduciary, the money manager, cannot use client assets for his own benefit or the benefit of other clients.

FORBES: Pensions and Brokerage: The Brokerage Battlefield Revisited (October 1, 2000)

If you're a manager, you know how important it is to make sure the client is always pleased with the service or product you're selling.

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When performance is good, funds are reluctant to terminate a manager that has been problematic in other areas such as client servicing.

FORBES: Time��s Running Out For America��s Pensions (May 1, 2003 )

"The cutting edge of wealth-transfer planning is mostly being done for entrepreneurs, " says Stephen Kenney, director of client strategies for Pell Rudman, a private wealth manager in Boston.

FORBES: It's Never Too Early