High School

In high school, take classes in business, economics, computer science, mathematics, English, and speech to prepare for a career as a wealth management analyst. Courses such as sociology, psychology, and science that help you to develop your research and critical-thinking skills will also be useful.  

Postsecondary Education

A minimum of a bachelor’s degree in finance, mathematics, economics, business, financial engineering, or quantitative finance is required to work as a wealth management analyst. Some analysts have master’s degrees, typically in business.

Many banks and large wealth management firms have internship programs. For example, J.P. Morgan offers several summer analyst internship programs for college students who will enter their senior years the following fall. Participants receive hands-on experience and get the opportunity to learn more about J.P. Morgan and network with fellow interns and experienced colleagues.

Other Education or Training

Many professional associations provide educational opportunities to analysts to help them build their skills and, if they’re certified, to qualify for re-certification. For example, the American Bankers Association (ABA) offers online and in-person classes on topics such as investment products, asset allocation and portfolio management, minimizing fiduciary risk and litigation, and ethics. Those who have earned the association’s certified trust and financial advisor credential must complete 45 continuing education credits every three years. This requirement can be met by completing CE classes provided by the ABA or by other providers. Other continuing education classes, webinars, and workshops are provided by organizations such as Association for Financial Counseling and Planning Education, Association for Financial Professionals, CFA Institute, Chartered Alternate Investment Analyst Association, New York Society of Security Analysts, Securities Industry and Financial Markets Association, and Women in Insurance and Financial Services.

Many wealth management firms offer in-house educational opportunities that cover topics such as new tax legislation, ethics, emerging investment vehicles and opportunities, and career development.

Certification

The Chartered Institute of Management Accountants offers a certificate in business accounting. The program has five components: fundamentals of management accounting, fundamentals of financial accounting, fundamentals of business mathematics, fundamentals of business economics, and fundamentals of ethics, corporate governance, and business law. Other certificate programs are provided by the Association of Chartered Certified Accountants (international auditing and international financial reporting) and the American Institute of Certified Public Accountants (International Financial Reporting Standards). 

Many colleges and universities offer certificates in financial planning, accounting, finance, and related fields. Contact schools in your area for more information. 

Certification or Licensing

Becoming certified is a good way to expand your financial knowledge and impress potential employers. It’s important to note that some certification programs are only open to those with several years of on-the-job experience, but you can earn some credentials starting during your last year of college, right after you graduate, or with just a year or two of work experience. One such program is the three-level chartered financial analyst (CFA) credential, which is administered by the CFA Institute. Those with either a bachelor’s degree or those who are in the last year of undergraduate study can apply for the program. Here are a few additional programs to consider:

• Accredited investment fiduciary, accredited investment fiduciary analyst, professional plan consultant (fi360)
• Certified international wealth manager diploma (Association of International Wealth Management)
• Chartered alternate investment analyst (Chartered Alternate Investment Analyst Association)
• Chartered market technician (Market Technicians Association)

Wealth management professionals with at least three years of experience providing direct client contact in investment management, administrative, tax, legal, and marketing services can apply for the certified trust and financial advisor credential, which is offered by the American Bankers Association Institute of Certified Bankers.

Some analysts are licensed as certified public accountants (CPAs). The Uniform CPA Examination, which is administered by the American Institute of Certified Public Accountants, is used by all states. 

Aspiring wealth management analysts should complete an internship or a summer analyst program at a wealth management firm, investment bank, or other financial employer. 

Analysts need excellent communication skills because they frequently write reports that summarize their findings, prepare and explain PowerPoint presentations, participate in meetings with colleagues, and convey financial information to investors in user-friendly language. They also need the ability to analyze and interpret financial data and an understanding of financial statements. Other important traits include strong organizational and time-management skills, curiosity, the ability to work both independently and as a member of a team, confidence, the ability to work well under pressure, and strong ethics. Proficiency in the use of PowerPoint, Microsoft Excel, and Word, as well as financial modeling software, is also required.