Wealth Manager

 

What does a person in this occupation do?

A Wealth Manager is a financial advisor to the affluent – those individuals and families with a high net worth. Wealth Managers often perform the same functions of other financial professionals, but the difference is that they are entrusted with more wealth to manage. Some of the functions include making recommendations on financial decisions, tax planning and preparation, and overseeing investments and assets to ensure growth and avoid loss.

Tasks include:

  • Writing Financial Life Plans
  • Performance calculations
  • Cash flow analysis
  • Income projections
  • Fee comparisons and breakdowns
  • Liaising with software company on all developments or problems with financial planning software
  • Loading all client information, assets and cash flows on financial planning software
  • Information gathering on various products or funds and liaising with investment houses
  • Reporting
  • Attend investment presentations or other industry related talks
  • Attend client meetings where necessary
  • Writing economic updates and other industry related articles
  • Basic investment analysis and research
  • Basic estate planning
  • Any other general financial planning support

 

Personality Traits

  • Organised and diligent
  • Good people skills and financial/business skills
  • Excellent interpersonal skills especially with wealthy individuals
  • Good planning and organisational skills
  • Good with money / investment
  • Punctuality

 

Learning Pathway

  • Bachelor of Commerce/ Bachelor of Business Science
  • Postgraduate qualification an advantage e.g. MBA
  • Certification as Certified Financial Planner (CFP®) with the Financial Planning Institute of South Africa is essential.
  • FAIS regulatory exams completed as well as other fit and proper requirements

 

Employment Avenues

All areas of financial services sector