What is a wealth manager ?

Whether you're an individual investor, a high-net-worth client, or a business owner, a wealth manager provides the expertise and resources to build, grow, and protect your financial future. These specialists offer tailored strategies, guiding clients through investment planning, tax optimization, estate transfers, and risk management. From private banking to brokerage services, they help navigate a global financial landscape filled with opportunities and challenges.

With access to a wide range of financial products—including securities, funds, and insurance—wealth managers craft personalized solutions based on each client’s specific goals. Whether you’re looking to invest with industry leaders, develop a holistic retirement plan, or maximize your portfolio’s potential, these advisors bring insight and strategy to every decision. By offering a comprehensive approach that includes legal, tax, and estate planning, wealth managers serve as dedicated partners in securing your financial success. Ready to take control of your wealth? Let’s explore how a professional wealth manager can transform your financial future.

What is a wealth manager?

A financial expert, the wealth advisor guides clients in structuring, growing, and transferring their wealth. Their mission is long-term and tailored to personal and professional goals. Banking and finance expertise forms the foundation of this profession, complemented by in-depth knowledge of law, taxation, and real estate.

Wealth management requires a macro approach. Professionals analyze all aspects of a client’s assets: financial investments, real estate holdings, life insurance policies, matrimonial regimes, and estate planning. This 360-degree vision enables them to optimize financial situations while securing the future of their clients and their families.

What are the main responsibilities of a wealth manager ?

The wealth management advisor's activity revolves around four areas, starting with the initial wealth audit. During this first stage, the asset manager draws up a detailed balance sheet, listing all the customer's assets, liabilities, income and expenses. This in-depth analysis identifies the strengths and weaknesses of the existing wealth structure.

The second step is to define a strategy. Taking into account the customer's objectives (retirement planning, business transfer, tax optimization), the advisor draws up tailor-made recommendations. This personal financial planning includes a diversification of investments adapted to the risk profile.

The third area concerns the implementation of recommended solutions. The wealth manager assists his client in subscribing to financial products, making real estate investments or legally restructuring his assets. His expertise in wealth engineering enables him to optimize each operation.

Last but not least, the asset manager monitors and adjusts the strategy on an ongoing basis. Thanks to regular performance monitoring, this professional adapts allocations according to market trends, and updates recommendations according to changes in the client's situation.

What skills are required to become a wealth manager ?

Asset management requires a wide range of skills. On a technical level, an excellent command of financial, legal and tax mechanisms is essential. The asset manager must constantly keep abreast of regulatory developments and financial market trends.

Relational skills also play a fundamental role. A relationship of trust with the customer is built on a genuine ability to listen and teach. The advisor must be able to explain complex concepts in simple terms, and help the customer make the right decisions.

Professional ethics are another pillar of the profession. Asset managers handle confidential information and make decisions that have a direct impact on their clients' assets. This responsibility demands rigor, transparency and strict adherence to professional ethics.

Why hire a wealth manager?

Contrary to popular belief, wealth management services are not only for the ultra-rich.

A wealth manager can assist various individuals, including:

Business owners planning to pass down their company
Senior executives seeking to structure their savings
Individuals inheriting significant wealth
Investors looking to diversify their portfolios
Individuals preparing for retirement

In addition, in the special case of large fortunes, the wealth manager operates within the framework of a family office. This structure, dedicated to the management of large family estates, represents a specific segment of the market. These entities offer comprehensive support, including financial and legal services.

How much do wealth management services cost?

The fees for wealth management services vary based on the advisor's business model. According to ANACOFI, consultation fees typically range from €150 to €300 per hour. Independent wealth managers may also earn commissions on subscribed financial products, usually between 0.5% and 1% of invested amounts.

What Is the Salary of a Wealth Manager?

Wealth managers can work in banks, corporate financial departments, or independent firms, with salaries varying by experience and role. According to the 2023 Robert Walters study, annual salaries are:

Junior wealth manager (0-2 years): €35,000 – €45,000
Experienced wealth manager (3-5 years): €45,000 – €60,000
Senior wealth manager (5+ years): €60,000 – €80,000

In private banking, variable bonuses can range from 20% to 50% of the base salary. Independent wealth managers may earn higher incomes but face greater financial variability.

How to train as a wealth manager

A master’s degree (Bac +5) is now the standard qualification for this profession. Several paths provide the necessary expertise as emlyon business school Master in Management - Grande Ecole, which offers a prestigious finance and wealth management specialization, combining:

Advanced theoretical courses
Real-life case studies
Expert-led workshops
Internships in private banking or specialized firms
Preparation for professional certifications (CIF, IOBSP)

Professionals must continually update their knowledge through additional certifications in wealth engineering.

Career opportunities in wealth management

Wealth managers can work in various sectors:

Banks and insurance companies : The largest employers, offering roles in branches or private banking centers.
Independent wealth management firms : Allowing for more autonomy and a personalized client approach.
Self-employment : An attractive option for experienced professionals with strong networks and expertise.

Career advancement opportunities include roles such as private banking team leader, portfolio management specialist, wealth transfer expert, wealth engineering consultant, or family office director.

As economic and regulatory landscapes evolve, wealth management remains a dynamic and promising profession. Training, particularly through top programs like emlyon business school, plays a crucial role in career success. A combination of technical expertise and strong client relationships enables professionals to build rewarding careers in this field.

Conclusion

In an increasingly complex financial landscape, the role of a wealth manager is more essential than ever. Whether managing investments, optimizing tax strategies, or planning for retirement and estate transfers, these professionals provide the expertise and personalized guidance needed to build and protect wealth. With opportunities spanning private banking, brokerage firms, and independent advisory services, wealth managers offer tailored solutions that align with each client’s unique financial goals.