Build a lucrative career in the wealth management industry

By Mr. Arun Kabra Chief Financial Officer and President – ​​Enterprise Business, Times Professional Learning

Wealth management is increasingly popular and growing in the financial industry and offers several avenues of growth for ambitious young professionals. It also offers many opportunities to build a lucrative career.

In 2017, there were nearly 2,70,000 HNIs in India and it is estimated that they will reach 9,50,000 by 2027. With the increase in the number and wealth of High Net Worth Individuals (HNWIs) and Ultra High Net Worth Individuals (UHNWI), there is also an increase in demand for skilled wealth managers who can offer holistic and integrated wealth management services.

In India, wealth management involves financial and investment advice for affluent clients. Wealth managers make decisions in the client’s interest by reducing financial risk and opening the door to many profitable options. The growing demand for different investment options has played an important role in pushing this industry to new heights. Undoubtedly, the Indian wealth management industry has come of age in the last five years.

Evolution of the Wealth Management Industry

The wealth management industry has become one of the fastest growing industries in the world. In 2020, the global wealth management market was valued at $1.25 trillion and is expected to reach $3.43 trillion by 2030. The aspiration for a luxurious and secure lifestyle has driven people to find various sources of income. One such source is investments in profitable businesses, assets, stocks and more.

India has become home to several fintech startups that have created waves of change in the industry. Advanced technologies such as robo-advisor, artificial intelligence (AI), robotic process automation and digital identification (ID) have made their mark in the wealth management industry. The digitization of financial services has created a need for skilled labor in technology.

The wealth management industry is growing rapidly, and so is the demand for credible wealth managers. The Boston Consulting Group (BCG) released a report titled “Global Wealth 2021: When Clients Take the Lead” which stated, “Financial wealth among Indians increased by 11% annually from 2015 to 2020 and is projected to grow another 10 % per year to $5.5 trillion by 2025.”

Career path as a wealth manager

If you are a recent graduate interested in wealth management, the role of Relationship Assistant would be the first step for you. When you level up, you will no longer assist another manager, but instead be responsible for managing your own clients as a relationship manager or client advisor. With more experience, these professionals may also eventually work for a family office or start their own business. As a senior investment professional, you may also eventually move into private wealth management.

Some of the top industry leaders provide learners with exposure to various aspects of investments, loans, banking, and trust and estate planning. Their experience is valuable to them in building research skills, building analytical learnings, developing global investment strategies and creating opportunities for different clients. To start a career in wealth management, you need to acquire a solid foundation combined with highly specialized knowledge.

Wealth managers must equip themselves to handle complex client demands with expertise in financial planning and investment management. A well-rounded wealth management program should include the above and the essentials of budgeting, savings, and debt planning, as well as compliance and regulatory requirements.

The certifications offered by wealth management training courses are essential, however certain skills are essential and require lifelong learning. It would be essential to acquire a thorough knowledge of the stock market and how it works and to be adept at risk assessment.

A good understanding of applicable tax laws and the banking industry would be an asset. A wealth manager should be passionate about the markets, constantly keeping an eye on them day in and day out. A general talent for numbers would also be an asset.

Growing demand for wealth management professionals

Fig- Wealth Management Trends in India


An increasing number of people are interested in the finance industry and aspire to build a lucrative career. The number of people engaged in this field as wealth managers, investment advisers, portfolio managers, researchers, analysts, etc. has grown exponentially in recent years. In 2020, 1292 investment advisers were registered on three exchanges NSE, BSE and MSEI.

The current Indian scenario also presents the perfect opportunity to pursue a career in wealth management with a rapid increase in the number of millionaires. India currently has 6884 UHNWI (Ultra High Net Worth Individuals) and is expected to grow by 63% over the next five years. This will generate more jobs in the financial sector with a need for wealth managers who understand the nuances of assets and the overall financial journey.

Managers should be skilled in their job and possess a good understanding of the Indian financial market. Along with an advanced degree in finance, one needs to hone relevant skills like analytical thinking and decision-making. Additionally, someone who can tackle complex problems and commit to solving them would be an ideal candidate.

Good communication is crucial as it involves interacting with multiple people. Negotiations and having an open line of communication are essential, especially when it comes to sensitive matters like money. One can take a certified wealth management course to acquire and perfect some of these skills. In India, IIM wealth management programs are the most credible certifications in wealth management.

How TimesPro prepares Indian youth for a career in wealth management

The Indian economy is recognized as one of the fastest growing economies, thus ensuring a promising future for the wealth management industry. Employees should enroll in the best wealth management courses to stand out from the crowd. TimesPro, a brand of Times Professional Learning, offers a range of Wealth Management postgraduate degree programs for students looking to pursue a career in financial advice.

These courses are also developed to empower learners to instill empathy to foster a better understanding of customer lifecycle needs. Students are accredited as Certified Wealth Management Professionals upon successful completion of the courses. The programs equip new-age financial advisors with specialist knowledge through a mix of online and offline learning modules taught by renowned instructors. Many of the programs offered by TimesPro are aimed at a cross-section of learners, from recent graduates to working financial services professionals.

As new investment options proliferate for HNI investors and the number of HNIs increases over the next few years, India will need skilled wealth management professionals who can meet the needs of affluent clients. Choosing a career in wealth management might just be the best career decision you can ever make.

Disclaimer: Content produced by Times Professional Learning (TPL)

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