Even if the professions in wealth management are still little known to the general public, the sector encompasses many skills. But what are the profiles and qualifications required to enter the profession? Let’s take a quick look at the subject.
What are the different professions in wealth management?
If you are considering working in asset management, you can choose between these different types of jobs:
Wealth management advisor or CGP: his/her mission is to give advice and manage the financial and real estate assets of his/her clients. But he or she is also a salesperson. Generally speaking, he or she works in complete independence, which allows him or her to have an impartial point of view. However, he can also join a wealth management firm, as in the case of the wealth management and financial investment advisors of Althos Patrimoine, which can be found at www.althos-patrimoine.com/. Do not hesitate to contact them for further advice and support.
assette management: it manages assets with the aim of making its clients’ wealth prosper, whether they are individuals or professionals.
advising him in financial institutions (banks or insurance companies): he is a salesperson who must be able to offer good products belonging to the institution. Thus, his catalogue is rather limited
the wealth engineer in private banking or IP: his/her role is to manage a portfolio and provide more in-depth advice.
and the family office: its function is to optimise the tax wealth of clients.
What are the training courses to follow?
Here are the various training courses required to enter the wealth management business:
CGP or real estate asset manager, you must hold a master’s degree in asset management from a business school or other university.
advising in financial institutions: a Master’s degree in Finance is mandatory and professional experience would be an asset
estate engineer: financial, notarial or legal training is recommended. Similarly, a good sense of listening and good interpersonal skills are also required.
asset management: a great capacity for analysis is required. Moreover, it is a highly technical profession. Therefore, a Specialised Master’s degree from a business school (ESSEC, HEC mainly) is essential.
and the family office: a mastery of investment strategies is crucial to enter the profession and a master’s degree is required.
What about salaries and future prospects?
The remuneration is very attractive if you are considering working in the field of wealth management. With a taste for challenge and a willingness to overcome obstacles, you can easily enter the sector. Likewise, the professions are accessible via continuing education if you wish to retrain!
Later on, it is possible to make a career in other departments and quickly climb the ladder to take on more important positions of responsibility offering a more motivating salary.