How to become a Wealth Manager

How to become a Wealth Manager Do you always win in monopoly? Are you forever frustrating your friends by talking about finance on evenings out? You should be a Wealth Manager…Private Wealth Management or rather, private banking, is essentially the management (and enhancement) of assets of individuals, families, trusts, and other institutions.Day-to-day responsibilities may vary depending on publication and experience, but typical duties could include:Consulting with clients to see what their expectations areTailoring products, services and investments to meet the client’s needsConstructing and maintaining investment portfolios for clientsUnderstanding and conveying a client’s risk and return criteriaCo-ordinating a team of advisors to address the needs of more affluent clientsIs it right for me?Culturally, Wealth Management attracts a spirited, self-motivated group of people.In order to be successful in this position, a manager must also be able to create and maintain excellent personal working relationship s with their clients, as well as be able to understand the complexities of their individual client’s financial goals.Other key skills include:Excellent organisational skillsDisciplineTact and trustworthinessBroad based knowledge of the market, equities, bonds, and derivative productsAbility to manage client relationships and bring in new businessCareer Progression? Financial AnalystUp to 40,000 Senior Financial AnalystUp to 60,000 Wealth ManagerUp to 100,000What's it really like? If you’re a passive person, a career in Wealth Management is not for you. It takes a courage, confidence and drive to succeed (sorry modesty) in a marketplace where information rules all. The first to know wins, and everyone else gets left by the wayside. For those who continually seek to self-improve and want to work with big sums of money and your reputation on the line, there’s no other way to go. Get qualifiedThere are no formal requirements needed to become a Wealth Manager. However, you will n eed to have a good level of previous experience, and an in-depth knowledge of the finance industry.