Imarticus Learning
India’s leading professional education institute, offering certified industry-endorsed training in Financial Services, Investment Banking, Business Analysis, IT, Business Analytics & Wealth Management
The field of Finance is an ever growing field today, with many lucrative and challenging career opportunities being offered here. One can choose from the broad spectrum of investment banking, corporate finance, financial modeling, wealth management, retail banking, insurance, valuation and securities and many others. The basic qualification that is required here would be a graduate degree in a relevant field of finance. Of these, the professionals who deal with retail banking and wealth management are generally known as Private Bankers. These people offer their services to organizations or people who have a high net worth; in simple words, they act as personal bankers/financial advisors to rich people. Private Bankers are mostly individuals with a degree in statistics, law, or any other finance related subjects. They work with either investment firms, banks, or wealth management firms, providing personalized financial services. Individuals starting in the wealth management industry have to deal with constant financial analysis, studying of stocks and bonds and so on. As a Private Banker, one can broadly be dealing with either back-end operations like accounting, analyzing; investment banks or with individual clients and their finances. They offer advice on a range of topics from tax management, pension funds, financial planning and help their clients to find the best ways to invest their money. The professionals here start off their career by being the analysts in firms, these people then study stocks and bonds and draw up financial plans, reports and so on. They can also work with retail companies offering them financial advice on the current monetary situations and how they would be beneficial. There are various certifications that add value to a career of a Private Banker. By giving exams like the Chartered Financial Analyst, and acquiring the designation after clearing the levels. Addition of this certification thus can give a lot more of an edge to a private banker, to further advance their career. When it comes to wealth management, a career in this field can include working for firms which only deal with extremely rich families or portfolio management. While it involves financial planning and execution of stock and bond investments for the families, portfolio management deals with a professional handling the portfolio of one particular investor and dealing with their transactions. Retail Banking is primarily consumer banking; herein the career options for a Private Banker can range from Asst. Relationships Managers to the coveted Senior Relationships Manager. Whereas the entry roles involve dealings with people, and all the functions that a consumer bank has got to offer from provident funds, certificates of deposits, personal loans, debit/credit facilities and so on. The career in this field would be solely focused on an individual customer, primarily acting as a Personal Banker. One doesn’t necessarily have to be highly qualified to get into the career of retail banking and wealth management. A basic graduate degree in any related field like law, math, statistics or any other finance related subject would be more than useful. One can also opt for a number of professional courses being offered today by a number of institutes. There are a host of certification programs both long term and short term offering training in corporate finance, wealth management, retail banking, and financial modeling and so on. One can choose from all of these courses to enhance their career options as a Private Banker in the near future.
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About ImarticusImarticus Learning is a education institute based in Mumbai. We offer certified industry-endorsed training in Financial Services, Investment Banking, Business Analysis, IT, Business Analytics & Wealth Management. Archives
December 2018
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