To be wise is to apply one’s heart to understanding (Mosiah 12:27); wisdom is the righteous application of knowledge for the blessing of one’s self and others. Wisdom is a gift of the Spirit and is granted by God (see 1 Corinthians 12:8; Moroni 10:9; D&C 46:17).
The wise among us know the source of all that is good and we trust in him. Those doing otherwise come short of the glory of God and will never obtain a fulness of truth.