Wealth Management Analysts


Exploring this Job

One way to learn more about the basics of wealth management is to read books, Web sites, and magazines about WM, business, and finance. Here are a few suggestions:

  • Wealth Management Unwrapped, Revised and Expanded (John Wiley & Sons, Inc., 2017) 
  • Charles Schwab OnInvesting: https://www.schwab.com/resource-center/insights/section/on-investing
  • The Wall Street Journal: https://www.wsj.com

Learn as much as you can about investing. Follow the stock market and create a real or mock investment portfolio. Many investment and brokerage Web sites will allow you to set up a mock portfolio. In high school and college, participate in business and finance clubs, which often provide the chance to participate in investment competitions and job shadowing opportunities. 

The Job

“Wealth management is the consultative process of meeting the needs and wants of affluent clients by providing the appropriate financial products and services,” according to Forbes.  

Wealth management analysts are entry-level professionals who typically receive a “tryout” of two to three years at a wealth management (WM) firm or in the WM department of a major investment bank before being promoted to the position of associate or leaving the firm to earn their MBAs or pursue other employment opportunities. Typical duties for analysts include:

  • preparing routine financial statements
  • processing and analyzing financial data for client portfolios
  • creating asset allocation reviews and financial plans
  • conducting research on a variety of client issues for partners (e.g., assessing a client’s tax status, analyzing the merits of a hedge fund investment with a specific strategy, etc.)
  • developing analytic/quantitative financial models
  • researching a wide variety of financial products (and occasionally being asked to provide their opinions to associates and partners)
  • contacting clients (or most likely their assistants) to confirm appointments with the associates
  • assisting in pre-client meeting tasks such as preparation of meeting agendas, client paperwork, investment policy statements, financial and tax preparations, and other data
  • assisting/participating during client meetings (i.e., getting coffee, running PowerPoint presentations, presenting their own research to a client on behalf of an associate)
  • maintaining client records by using document management software such as Redtail CRM and NetDocuments
  • creating strategy reports and other types of documents for associates to use with clients and prospective clients
  • identifying new business opportunities, including prospecting clients through cold calling and via financial seminars