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5 Reasons to Pursue Career in Wealth Management By Jitendra D

  in Career | Published 2017-11-07 01:00:37 | 218 Reads | Unrated


Wealth Management is a rapidly growing field with a promising future that boasts innumerable job openings in the near future with many global firms.Wealth Management is a specialized investment-advisory discipline that primarily focuses on offering financial services.

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One of the popular fields within the financial sector, Wealth Management is a specialized investment-advisory discipline that primarily focuses on offering financial services to high-net-worth and ultra-high-net-worth individuals as well as to small business owners and families. Such individuals seek the professional assistance of a high-level financial advisory specialist to address their multifarious financials needs pertaining to their personal retail banking, legal planning, business succession, financial planning, investment portfolio management, portfolio diversification, investment ma

nagement, after tax returns etc. The niche field also offers expert financial & investment advice to the less wealthy individuals who aspire to join the elite league of the ultra-rich in the days to come.

With the evolution of a client-centric model that aims to touch upon all aspects of a client's financial life by delving deeper into their life goals, spending patterns etc., wealth management has gradually outgrown its one-time distinction as a purely investment-advisory discipline to subsequently become a 'financial life management' speciality that offers sophisticated and personalised financial solutions to its affluent clientele.

If you are in the midst of a mid-life career switch and are contemplating a futuristic career move that is gratifying and well-paying, then a career in the high-performing field of Wealth Management suits you. Still unsure of whether you should take this quantum leap? Read on to uncover 5 compelling reasons

How Wealth Management Can Make Your Career Transition ?

  • Empowerment to Make a Real Difference -

As a Wealth Manager, you have a rare chance to contribute to your country's economic upturn through profitable investment options and adapted offerings that are attuned to diverse customer segments. Additionally, your role gives you a sneak peek into your clients' personal aspirations, their dreams & apprehensions and their long-term & short-term priorities in life. These clients are real people who bank upon your sound judgement and advice for matters related to their precious wealth. Everything that you recommend as their trusted advocate and advisor, directly impacts them and their immediate family. Hence, your effect on your clients' lives is far-reaching. As Shelley O'Connor, Managing Director, Head of Wealth Management says, "A career in wealth management can be extraordinarily fulfilling. You have the opportunity to leverage a vast range of products and resources to deliver solutions that meet the unique financial needs and goals of individuals and families - and increasingly are in alignment with their personal and social priorities. What you do for clients can make a critical difference in their lifestyles and their legacy. "

  • Interactions That Help You Develop Valuable Professional & Life Skills -

A career in wealth management will give you ample chances to amplify your communication and interpersonal skills since you will be harnessing them quite often in your day-to-day interactions with your clients. As a Wealth Manager, your role will also require you to sharpen your influencing, persuasion and negotiation skills in order to come across as convincing enough to be able to make your clients overcome their fears and subscribe to your prescribed products or financial solutions that are best suited for them keeping their financial background and life goals in mind. Trust building is equally important and so are savvy financial skills and the ability to handle difficult customers in a calm and assured manner. Consulting, leadership, entrepreneurship, teamwork and problem-solving are few of the other life-changing skills that you can acquire and enhance when you embark on a career in wealth management.

  • Opportunity to Innovate Creative & Diverse Solutions -

Making a foray into wealth management implies limitless creativity and undying passion to constantly explore and innovate a diverse range of financial products and solutions such as managed account services, discretionary investment accounts, provision of brokerage accounts, initial public offerings (IPOs), secondary stock issuances, tax planning, estate planning, retirement planning, accounting services and financial advice pertaining to money management and mergers & acquisitions. It won't be wrong to say that this career is not for those who prefer a routine life as one will be exposed to umpteen action-packed days with a lot to manage and execute!

  • Establish Lasting Relationships with Clients -

Working in the capacity of a Wealth Manager or a Financial Advisor/Financial Consultant would mean that you will be guiding clients from various backgrounds and industries on how to maintain and maximise their wealth based on their lifestyle, financial situation, life goals and risk-taking abilities. Consequently, you have a unique opportunity at hand to foster rewarding and lifelong relationships with your customers by uncovering their implicit and explicit wants and offering appropriate financial products that are specifically tailored to their financial situations. The fact that you get to generate a lifetime's worth of value for them by providing them with additional products and services and with periodic review and modification of their existing financial portfolio, makes wealth management an extremely dynamic and exciting career choice for you.

  • Growing Space with Potential to Earn Handsomely -

Wealth Management is a rapidly growing field with a promising future that boasts innumerable job openings in the near future with many global firms constantly on the lookout for seasoned financial advisors. James Gorman, Chairman and CEO of Morgan Stanley, predicts that as the population ages and the middle class grows, there will be a heightened demand for asset managers who can invest the large pool of savings for retirement. According to the U.S. Bureau of Labor Statistics, 60,300 additional jobs will be available for financial advisors by 2022. Deutsche Bank too aims to hire 300 people in asset management by 2020 and many other illustrious names like JPMorgan have rolled out asset management jobs globally.

In a field riddled with aging financial advisors with the average age of current advisors hovering at 50.9 years, there is an increasing need to hire young talents who can take over the estimated USD 30 trillion in wealth that will be handed over to the upcoming generation of investors. Moreover, one can also fuel their entrepreneurial spirit and launch their own financial/wealth management consulting firm or fintech start-up while pursuing their current employment in a renowned firm. Apart from the fact that one gets to experiment with multiple career trajectories, a lucrative base salary and high performance-driven incentives & bonuses are some of the other perks that make Wealth Management a career path that's worth traversing!


Give your career a much-needed thrust by pursuing MITSDE 's PGD in Wealth Management . The comprehensive one-year course will provide you with in-depth insights into Managerial Economics, Risk Management, Financial Planning, Retirement Solutions, Security Analysis, Portfolio Management, Financial Plan & Wealth Management, Banking & Mutual Fund Products and many other vital concepts that are essential for making a seamless move to this dynamic space.


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