5 Reasons to Pursue Career in Wealth Management

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5 Reasons to Pursue Career in Wealth Management

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Wealth Management

• 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 management,
  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.

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Career in Wealth Management

• With the evolution of a client-centric model that
  aims to touch upon all aspects of a clients
  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. 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 management, after tax returns etc.

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5 Reasons to Pursue Career in Wealth Management

• Empowerment to Make a Real Difference
• As a Wealth Manager, you have a rare chance to
  contribute to your countrys 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 OConnor, 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.

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5 Reasons to Pursue Career in Wealth Management

• 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.

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5 Reasons to Pursue 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 wont
  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!

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5 Reasons to Pursue Career in Wealth Management

• 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
  lifetimes 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.

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5 Reasons to Pursue Career in Wealth Management

• 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.

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Conclusion

• Give your career a much-needed thrust by pursuing
  MITSDEs 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.