Wealth Management Career Options

Wealth Management Career Options

Graduating in Wealth Management is quite tricky. While managing people’s money sounds easy as pie, it’s a job filled with smart moves and stressful nights. From bookkeeping to accounting, a wealth management career option is nothing short of exciting. You are the caretaker of client’s property with the responsibility of finding ways to enhance it and keep the big bucks coming, via- investments, IPO’s or other such holdings.

Let’s see as to the kind of roles one can find under Wealth Management as a profession:

Relationship Management

The most common wealth management career option is that of a relationship manager (RM). The job profile is such, where the RM is expected to maintains the strong bond with the client, by understanding his/her investment choices, the kind of risk the client likes to take; so that the RM can suggest the right tactic for the customer.

What is required to be a Relationship Manager:

• Trust in the client, his choices and in-turn self-confidence that the move being made will be beneficial for the customer.
• Capability to provide practical solutions that can be offered to clients under complicated and stressful conditions.
• Proactive approach in gauging market opportunity for the client and seeking the best price for it.

Service Management

A Service Manager (SM) is someone who handles operational requirements in dealings.  Service Manager is the back-end worker who makes it possible for the client to have hassle-free transactions in an effortless manner.

What does it take to be a Service Manager?

• Goal Oriented Behavior so that once the market opportunity is spotted; it is made sure to be followed through.
• Meticulous capabilities while transacting help the SM in paying close attention to detail in spotting weak-links and problem areas.

Speedy execution abilities to proactively deal with transactions, investments and follow ups.

Product Manager

One of the most important Wealth management career option is that of a Product Manager (PM). It is the duty of the product manager to make sure that the most appropriate product is offered to the suitable client, thus keeping in mind the diverse needs of the customer- from risk management to funds available. In retrospect the Product Manager’s choices have lots of effect on each and every transaction that the client makes, thus making the Product Manager’s job a tough one.

What do you need to have to be a product manager?

• The knack to handle challenging situations and a grip on market opportunities.
• An inclination to understand various asset types so as to recommend the best suitable one to the most appropriate candidate.
• Practical learning to apply theoretical knowledge in real life.

The Take-Away

A career option in Wealth Management is a great way to ensure a safe future. From being a Relationship Manager to a Service Manager or a Product management, it is an industry that always keeps you on your toes. Always on the go, this dynamic world of highs and lows has a lot to teach you on its way that can prove out to be quite fruitful on your journey to success.

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