Not only will you be provided with plenty of room for career progression, but a number of exit opportunities exist, too. In fact, an estimated 5% of CFA charterholders are wealth management specialists. The reason for this trend involves the fact that many CFA core competencies are the primary responsibilities of a wealth manager.
Through a career in one of our branch offices across the country or at our corporate headquarters in Minneapolis, Minnesota, you can use your passion for your chosen field to make a meaningful difference. A finance, business or economics degree should be sufficient in most cases at the entry level, but an MBA is highly recommended. With an MBA, you can directly join at a higher level and would probably be assigned a more affluent client base than otherwise. In all honestly though, that advice holds true for any banking career, but it is what it is. You can just decide to quit financial services and service your high networth individual clients in some other industry. An official wealth manager can make $100K – $200K, plus the average bonus rate of 30 – 60% of the fixed salary component.
Our culture and purpose
We support and work in locations throughout the world to meet the needs of our clients. Weighing the benefits and possible drawbacks of wealth management is crucial if you hope to make an objective decision. Still, this career can provide a wealth of rewards if you are willing to make such a commitment. It will be interesting to see whether these observations come to pass and if they do, the effects that they will have upon the entire wealth management industry.
Business Development Manager – Wealth Management
When putting investment banking and wealth management on a comparison scale, there is a significant amount of overlap and interaction. The bankers and advisors in our Private Bank act as personal financial guides and allies for the world’s leading families, endowments, foundations and institutions. Unique advisory services and extraordinary access set our offering apart. As touched upon earlier in this article, many wealth management specialists eventually decide to become freelancers, starting their own firms once they have accumulated the expertise and a solid client base.