The wealth management industry caters to high- and ultra-high-net-worth individuals with investable assets of over US$1 million and who aim to grow and preserve their wealth well into the future. Serving this market are product specialists, portfolio managers, relationship managers, private bankers, and others. Clients may entrust their money to discretionary portfolio managers who will make day-to-day decisions on how to invest their money within agreed parameters or actively manage their investments themselves with professional advice. “This is a people business; we generally deal with private clients and private bankers, not institutional investors. If you can’t communicate well and connect with them, you will struggle to be successful, no matter how good your investment skills are,” says Garth Bregman, CFA, the regional head of discretionary portfolio management in Asia for BNP Paribas Wealth Management.

 

Investment professionals need to deliver more than a stock recommendation; they need to be able to provide bespoke comprehensive, long-term investment strategies. “Knowledge and understanding of the wealth management domain, client needs, and the financial and the regulatory environment are really important,” “It is also necessary to have the ability to work with and analyze unstructured data to produce actionable ideas, investment analysis, and recommendations.”

 

As wealth in Africa commence another round of growth process, professionals in this industry will remain in demand. Those with long-standing relationships with high-net-worth clients are sought after. Strong analytical and quantitative skills are essential. Excellent sales, interpersonal, and communication skills are equally important.

 

Private Wealth Management secures, develops and manages relationships with high net worth individuals, their families, family offices and foundations. PWM helps clients by building and preserving their financial wealth by creating and implementing long-term asset allocation within the context of each client’s particular risk tolerance and providing access to innovative investment ideas and opportunities. PWM professionals develop customized investment strategies and offer a full array of wealth management products and services, including private banking and trust company services.

 

Asset Management delivers innovative investment solutions through a global, multi-product platform that offers clients the advantages that come with working with a large firm, while maintaining the benefits of a boutique. Distribution teams market Asset Management investment products and services to institutions and, through third party channels, to markets around the world.

 

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