We use cookies to improve and customise your experience, for analytics and metrics, and to track any purchases you make both on this website and on others. To find out more about the cookies we use see our cookie policy
More info
- Work on behalf of some of the wealthiest individuals/families in the world
- Make a real intergenerational impact on the finances and wealth of some families
- Develop and maintain long-term relationships with clients
As a wealth manager, you'll manage the wealth and capital of (usually wealthy) individuals and families, with the aim of growing it over time.
DAY-TO-DAY DUTIES
- Investments
- Help with taxes
- Deal with clients' businesses or properties
- Attend client meetings
- Review their investments and other financial affairs
- Send clients their investment portfolio updates
- Execute trades on their behalf
DAY-TO-DAY ENVIRONMENT
You may work for an investment firm, or be self-employed.
You'll need
To be a wealth manager, you'll need analytical ability, discretion and trustworthiness, excellent communication skills, knowledge of financial markets, and customer service skills. You'll need to be able to understand clients' unique requirements and the ability to relay complex information about financial products to your client in a straightforward way.
You would normally require a numerate degree to work in wealth management. A lot of the larger institutions provide graduate traineeships which makes you an assistant relationship manager. Some institutions do offer internships for students/recent graduates.
You might start off as a junior analyst to get into this role, which will involve supporting the relationship manager (generally the most senior role in wealth management).
It is common for former investment bankers, traders and asset managers to go into wealth management later on in their career for a more relaxed lifestyle.
CAREER PROSPECTS
As you gain more seniority and your own clients, you can become a relationship manager. Relationship managers tend to have more direct access to clients and are the first point of contact for clients.