Becoming a Wealth Manager

If the account manager of a bank is specialized in portfolio management, the wealth manager is a professional who has a good knowledge of financial markets. However, this profession is not well known to many people, even though it opens up many fields of expertise. Focus on the details to become a wealth management consultant.

The missions of the wealth manager


The wealth manager’s mission is to optimize the management of his client’s wealth. First of all, he draws up a wealth assessment, whatever the nature of the assets (movable equipment, real estate assets, financial investments) and takes stock of the tax and financial situation. Then, he assists his clients in the proper management of their assets and the choice of different investments and financial arrangements in accordance with their objectives. He sets up a strategy adapted to each client’s situation, taking into account the tax advantages and legal constraints of each type of investment. In other words, the asset manager accompanies his clients throughout their projects and provides them with advice so that they can keep the assets they already own on the one hand and make the best possible investments on the other. In addition to the development of the inheritance, many points can be treated by this professional:

  • Investment management
  • Advice on building a house
  • Income planning (retirement and heirs)
  • Conversion of assets into income
  • Transfer of assets to heirs
  • Selling or buying real estate.

These are the basic duties of any wealth manager, but there is so must more to it, and this is why you are trained and need a certificate to be seen as a professional wealth manager, and we are going to talk about these certifications next.

The necessary training


To be able to practice the profession of wealth manager, it is wise to have a master’s degree in wealth management. It is possible to follow additional training, similar to a Master’s or post-graduate degree. In addition, graduates in Accounting and Management can also practice this profession. In addition, it is also recommended to have a Master’s degree in Law, Economics and also in Commerce. All this knowledge is necessary since the job of a wealth manager is multidisciplinary. Before applying for this job, it is essential to put into practice one’s knowledge and highlight one’s achievements during various internships in companies.

The qualities and skills required.


Above all, the asset manager must be qualified in several rather complex fields such as real estate, taxation, economics, law, and especially the financial field. He must also follow the evolution of the legislation in these fields. According to the results of the analysis, he will bring different solutions adapted to the expectations of each customer: real estate investments, stock exchange. In practice, good listening skills are very important. It is imperative that they show understanding of their clients’ different situations in order to establish the right investment plans.



Since wealth management brings together skills in different areas, a wealth manager is remunerated according to the firm in which he works, his status, as well as his level of experience. But in general, a wealth manager is paid between 30 000 and 70 000 dollars per year. A junior advisor will earn between $32,000 and $35,000, while a senior advisor can pocket between $45,000 and $70,000. As for the remuneration of an independent asset manager fluctuates according to the seasons and the hours engaged for a given service.

Where can one practice the profession of wealth manager?

In general, the wealth management consultant works in financial institutions such as banks, insurance companies, or a wealth management firm. He can also work as an independent and create his own office.

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