Private Banking & Wealth Management: currently 506 jobs.The latest job was posted on 19 Jan 21.
Private Banking / Wealth Management
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Wealth management involves working with individuals of high net worth, helping them put their money to good use and ensure it is working for them.
Private banking refers not to the secrecy surrounding the investments, but to the fact that the assets belong to individuals rather than corporations or institutions.
A wealth planning advisor works with the client or their representative, to look at their current asset and investment portfolio, their income requirements and appetite for risk. The advisor will also take into account tax liabilities, and pension requirements.
Based on this information the advisor will recommend a portfolio of investments that will provide the right mixture of income through dividends and interest payments, and potential for future capital growth. The service will include advice on a strategy for charitable donations, and for wealth bequests.
Private banking careers
Roles within private banking typically fall into one of three categories: managing investments; client-facing; operational.
Client-facing roles may involve just the relationship management aspect of wealth management, with a behind the scenes team managing the portfolio, or the advisor may be actively involved in asset management.
Advisors are typically supported by a team of product specialists, with expertise in particular classes of asset.
In turn, these professionals are supported by a team of analysts.
An analyst is the level that most people begin at when pursuing a career in private banking. The role requires analytical and communication skills, as the analyst is responsible for collating vast quantities of relevant information about particular assets, and presenting the information in a format useful to the more senior members of the private banking and wealth management team.
When an analyst is ready to move into a client-facing role, he or she will initially be accompanied by a more senior advisor, before being given sole responsibility for a smaller value client.
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