With COVID-19 making headlines around the world, it is normal to feel uncertain about many aspects of life right now, including family financial planning and wealth management. With the increase in family wealth and the size of organizations, there is a comparable increase in their assets. There is considerable demand for professionals to manage these assets and coordinate investment activities in order to maintain growth. The issue arises of how to increase a wealth management bank’s competitive advantages by segmenting a set of the selection criteria for a wealth management bank to effectively manage personal wealth. The results showed that the management’s learning and growth perspective was the most important causal dimension of wealth management bank selection. This paper also draws on the research results for managerial practice implications.