Definition:
This phrase is a blanket term for cash and bank accounts plus securities and investment accounts that can be readily converted into cash. Excluded are illiquid physical assets such as real estate, automobiles, cars, jewelry, furniture, collectibles, etc. Firms in the financial services industry typically use this measure of personal wealth when evaluating and categorizing clients.
Also Known As: Investable Assets
Examples: Our company’s private banking division serves clients with financial assets of $10 million or more.
