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Career in Wealth Management

Wealth manager provides financial and investment advisory, accounting and tax services, retirement planning, insurance policies, legal and estate planning services to high net worth clients. The wealth manager understands the requirements of the clients and addresses them with the best available financial solutions. The scope of wealth management is broader than investment advice as the HNIs depend upon wealth managers for all their financial needs and for planning their family’s future. This service is suitable for wealthy individuals with a wide range of diverse requirements. Wealth managers need to coordinate with outside financial experts as well as clients’ agents like accountants etc., to formulate an optimal plan for the clients. Although the wealth managers are expected to be experts in every financial service and product, in reality, each manager specializes in particular areas, depending upon factors such as expertise or experience of the managers, primary business area in which they are operating, their comfort level with particular products, etc.

Job description of wealth managers:

  • Managing relationships with clients and proactively helps to resolve issues and concerns.
  • Utilize financial planning tools to analyze complex financial information. Using their knowledge and expertise to construct personalized financial plans that aim to achieve the financial goals of clients.
  • Sourcing business for the company and maintaining a long-term relationship with them for securing repetitive business.
  • Analyzing financial information obtained from clients such as current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, etc., to determine strategies for meeting clients' financial objectives.
  • Reviewing clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
  • Meeting clients' other advisors, such as attorneys, accountants, or investment bankers, to completely understand clients' financial objectives and situations.
  • Researching available investment opportunities to determine compatibility with client financial plans.
  • Preparing presentations and materials for client and prospective client meetings.
  • Coordinating with investment specialists, wealth advisors and capital advisors on client needs, meeting agendas, and managing client follow-up.

Types of Job Roles for wealth managers:


Skills and qualifications required:

  • Degree in Commerce, Business Administration, or Finance.
  • Certification: MBA/CA/ CFA/CFP with years of financial services industry experience.
  • Ability to perform in a fast-paced environment and handle multiple tasks through effective prioritization.
  • Ability to coordinate multi-functional teams to provide an exceptional client experience.
  • Excellent interpersonal, communication and influencing skills (e.g. negotiation, consultative skills, leadership).
  • Ability to work under pressure while making sound decisions.
  • Ability to analyze clients’ financial data and to provide appropriate data-based advice.
  • Accuracy, attention to detail and the ability to explain complex information clearly and simply.

Companies that offer wealth management services: