What are the differences and similarities between wealth management and portfolio management?

My take on this

Portfolio management:

• The management of your assets

• E.g. stocks, UT, ETF, property, commodities etc

• Asset allocation will be the focus here as your allocation will evolve over time

Wealth Management:

• Would emcompass a wider scope and is more holistic

• Includes, but not limited to: Tax planning, Education planning, Legacy planning, Estate planning, Insurance, Charitable giving, Retirement planning

• Focuses on growth and/or preservation of your wealth​​​

Well it's quite a vague question but my stab at it would be portfolio management only handles your investment accounts while wealth management should include all areas of finance including insurance, investments, estate planning, charitable donations, tax, retirement accounts, CPF, cash savings and emergency expense, and any goals based planning.