This week we touch on a career in finance; it is a profession not many people know about. Managing personal funds is important. In all honesty, I wish there was a class on financial literacy in high school. The interesting thing is there is a profession all about managing individuals’ wealth. A Private Wealth Advisor makes investment recommendations and advise drafting a financial plan. Private wealth managers look at a client’s entire financial life and provide a range of relevant services. Private wealth managers offer services such as portfolio management, tax planning, estate planning and philanthropic planning. The median salary for this occupation is $348,000.
An individual who chooses to explore this occupation would excel with a Master’s degree in or equivalent in a related field (Investments, Finance, Law, Accounting/Tax, Economics, Business Administration) and/or years of related experience; or an equivalent combination of education and experience.
Along with at least one of the following certifications: CFP, CPA, CFA or CIMA.