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Wealth Management Analysts

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
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