With many cross-over attributes to the other positions detailed here, Wealth management entry level jobs as an Investment Consultant / Wealth Manager / Private Banker tends to cover an Analyst role and function as a Discretionary or Advisory Broker on behalf of clients.
It can be said that in some respects they act as a private Trader on behalf of their clients, working primarily with High Net-Worth Individuals (HNWI’s, persons whose investible assets, such as stocks and bonds exceed a given amount and typically holding financial assets, excluding their primary residence, with a value greater than US$1 million, business owners and family trusts who require the assistance of a professional financial adviser in day-to-day investment and financial planning decisions.
Some tips to get into wealth management entry level jobs:
We suggest you sharpen your asset management skills through reading, getting updated on trends, news. products, and eventually invest personally (smaller amount of course). This will provide result i.e. economic returns and will show that you are a case for hire.
- Practical Tip to get into wealth management entry level jobs: besides your academic background in finance, learn how to use Excel. You’ll probably have to use it a lot, with advanced features.
- Career Tips to get into wealth management entry level jobs:
- in current wealth management entry level jobs, besides I.T-related careers, people with strong Sales and Marketing skills achieve major success. This means that, unless you’re one of the top 100 fund managers, you’ll get more selling funds than managing them.
- You may also consider getting some regulatory expertise. Compliance people are more and more required by asset managers (I am speaking about Europe, but the US shouldn’t be that far).
- If you are considering a role in this area it is highly advised you review the material provided by the CFA Society United Kingdom – CFA UK, and study towards an IMC Investment Management Certificate.
- The biggest Wealth Management, asset management and hedge funds companies have regular training programs for which they get a big group of people every summer. Check our section in junior broker roles for Wealth Management jobs to find out if any are being organised anytime soon. Important qualities for a training program slot are general intelligence, willingness to work hard, and a desire to work your way up in that industry.