The wealth management advisor: what is his role and his missions?

 The wealth management advisor: what is his role and his missions?

The wealth management advisor is a professional expert in the valuation of the financial and real estate assets of his clients. Impartial, its mission is to advise them in order to optimize and grow their capital and/or their assets, according to their objectives. To do this, he has knowledge of tax, financial, commercial, legal, real estate matters as well as in the field of insurance and loans. Discover the roles and missions of this multi-talented expert.

The wealth management advisor: who is he?

The wealth management advisor, also called Private Banker, is a professional responsible for managing the assets of his clients. He can exercise his profession within a notarial office, a bank, an insurance company or as a self-employed person.

This profession brings together several in reality, since the wealth management advisor is a financial wealth advisor, a wealth development advisor and a wealth management advisor. All have the same objective of growing the wealth of their clients.

The asset management adviser has the obligation to keep abreast of developments in the financial markets, to follow and know the legal texts in force, but also to listen to his clients in order to provide them with appropriate response. He must also be able to adapt to his clients by expressing himself in a clear, detailed and concise manner. He must imperatively be rigorous and work within the law. It is a job that also requires a good knowledge of marketing and communication techniques. The sense of the relational is essential in this branch.

In addition, the wealth management advisor may be required to work with various stakeholders and external service providers as part of his missions. Among these, we can cite insurance brokers, bankers, chartered accountants, lawyers, general agents or even notaries.

The role and missions of the wealth management advisor

This investment expert’s role is to offer his clients unique and tailor-made programs aimed at preserving or maximizing their wealth. In this sense, it assumes a large number of responsibilities, of which the financial risk is one. Indeed, it plays a leading role in the creation, management, development, but also the protection and transmission of the assets of its clients.

As part of the exercise of his profession, the wealth management advisor can carry out several missions and activities

  • He acts as a guide and advisor to his clients.
  • It analyzes the assets of its clients in order to define their profile in order to provide them with appropriate and personalized responses.
  • It keeps itself informed of the progress of the various financing solutions in progress.
  • With each of his clients, he defines personalized objectives and follows them.
  • He advises his clients to enable them to make the best placements and investments with regard to each profile.
  • It offers tax and legal advice and recommendations within a legal framework.
  • He must demonstrate pedagogy and clarity with his clients in order to be understood. Likewise, a relationship of mutual trust must be established. To do this, mutual understanding is essential.
  • He must inform his clients about the risks relating to the investments and the investments offered. Indeed, it can work without alerting its customers to the risks that accompany each action.
  • When he works in a bank, he must offer investments and investments that serve both his employer and his customers.
  • He must be independent and impartial in order to offer the solution that will serve his client in terms of finance, investment, succession, taxation, real estate, etc.

To be able to serve the interests of each client, the wealth management advisor must receive his clientele and establish his personal, professional and financial profile by means of in-depth studies of the current situation and the desired situation. of this one. It should be noted that each profile is unique and that the response that the professional must provide is constrained by this uniqueness; its mission is to provide its customers with an appropriate and ideal solution at the right time. Without perfect knowledge and monitoring of its areas of expertise, which are financial products and life insurance, real estate, tax optimization, succession, retirement, insurance and credit, it is not in able to carry out this mission effectively.

Of course, its role is limited to advising and implementing the right strategies. It cannot in any case impose on its customers to apply its recommendations or put them in place without the agreement of its customers. He can rely on the advice of other experts to enrich his knowledge and grow the wealth of his clients.

If the wealth management advisor can be consulted by any individual or professional, you should know that most of his clients are wealthy people or entities, with comfortable incomes and heavily taxed.