The client relationship; the first component relates to communication and reporting, education and risk assessment and essentially governs the client relationship. 

Portfolio construction, planning & management expertise and disciplines; the second area of expertise relates to asset management expertise needed to construct plan and manage assets to meet financial needs over time. 

Business process, corporate structure and systems; the third area relates to how all the components of wealth management are brought together into a service and business process.  At the heart of this third component lies the systems that integrate all components.