One’s career opportunity in the field of wealth management can be varied and quite challenging. This is the right path for you if you are driven and hardworking and is willing to fully understand the financial market. There are a lot of wealth management careers that you can pursue. Since these professionals perform a great role in managing the assets, income, expenses and investment of high net-worth client.
An exceptional educational attainment is very much appreciated in this field. Even though that is not the basis for you to succeed in this field but it could be a factory in order to get a better job offer. On the other hand, it is also important that you knowledgeable and skillful in this field. You should be good in providing financial and investment advice, providing accounting and tax services as well as legal and estate planning. In general, being part of a wealth management firm you will not be only providing investment advice but most of all you are dealing with all parts of a person’s financial life.
So, what types of roles are there in wealth management? Here are few of wealth management careers that you can pursue:
Investment Manager- The role of Investment Manager is primarily on managing the assets of his clients. They will also oversee their client’s portfolios of which typically include a complex combination of investments. The biggest role of an investment manager is to increase the money of their clients.
Product Specialist – The role of a Product Specialist is to help develop investment products as well as layout the possible investment opportunities. They also work hand in hand with the Sales and Trading team to ensure that the best market expertise will be provided to their clients. Since most of the time they will be facing their clients it is important that they have a good communication skills.
Relationship Manager – The Relationship Manager plays an important role in this field. They are also called the “client executives”. As a Relationship Manager it is a must that you know all the products and services that your bank offers. You should also have a thorough knowledge of your client’s financial status and at the same time a complete knowledge about the financial markets and its external factors. As a Relationship Manager it is then vital that they have a good working relationship with their clients in order to easily serve them well.
Private Banker – The role of a Private Banker is primarily to deal with extremely high net-worth clients. These clients have over $2 million in their account. They will be managing inheritance planning, investment planning, tax planning and many more. What’s important is that as a Private Manager you see to it that you will be able to serve well your clients and at the same time meet all their needs.
Portfolio Manager – The role of the Portfolio Manager is to manage an investment pool for a specific fund and at the same time will make decisions for all of their clients. This is the most stressful career but it is also one of the highest paid careers in this field. The stress level is indeed well compensated.