The profession of wealth management advisor
The Wealth Management Advisor is responsible for the investments and assets of their clients. Their professional success lies in their ability to assess the client's wealth and propose investments that align with their values and expectations.
They therefore need to develop legal, tax, economic, and interpersonal skills to gain the trust of their clients. The BAC+5 Wealth Management program is an excellent university course for pursuing this profession. Paris-Dauphine PSL University offers a high-quality Master's program with a multidisciplinary curriculum to prepare for the role of Wealth Management Advisor.
Words from our alumni
"A good Wealth Management Advisor must be able to explain
complicated things using simple words"
What does the daily job of a Wealth Management Advisor actually consist of?
The primary role of a Wealth Management Advisor is to advise and guide clients to optimize their financial, real estate, and professional assets according to their goals and investment profile.
What aspect of this job interests you the most?
One of the most interesting aspects is discovering new client profiles each day (freelancers, business owners, retirees, dynamic executives, etc.) and understanding their personal and professional stories to help them succeed in their projects.
Why did you choose Paris Dauphine-PSL University for your training?
Paris Dauphine-PSL University is renowned for the quality and rigor of its teaching and is also well-regarded in the business world. It was the best option in my eyes for quickly integrating into the professional world.
What is the essential skill that the Master 2 in Wealth Management & Private Banking you took at Dauphine provided you with to build a career in this sector, which still serves you today?
The Master 2 in Wealth Management & Private Banking allowed me to develop the organization and rigor essential for practicing my profession. It also strengthened my expertise in tax, real estate, and wealth matters to be a well-rounded Wealth Management Advisor.
What advice would you give to a student looking to pursue a career as a Wealth Management Advisor?
A good Wealth Management Advisor must be able to explain complicated things using simple words; this is the key to success in our profession.
BRUNO ALVES
WEALTH MANAGEMENT ADVISOR - CREDIT DU NORD
His background:
Master in Wealth Management & Private Banking
Role and missions of the wealth management advisor
The Wealth Management Advisor (or WMA) supports professionals and individuals throughout their lives. They must be familiar with all available investment strategies and tailor them on a case-by-case basis to their clients: marital regimes, retirement, insurance, etc. The Wealth Management Advisor carries out the following missions:
Daily tasks
- Meet and advise clients
- Decode and simplify the legal and tax environment of their clients
- Conduct a complete wealth and tax assessment
- Assess risks
- Stay informed and inform clients of any legislative or financial developments impacting their wealth management strategy
- Define asset allocation offers and persuade clients to choose the best investment options
- Coordinate actions with other involved specialists: lawyers, notaries, insurers, brokers, etc.
- Ensure the profitability of entrusted assets
- Facilitate the transfer of wealth
- Identify new, rare, or unknown investment opportunities: art, spirits, collector cars, SOFICA, etc.
Salaries and career progression
The median salary of a Wealth Management Advisor graduated from Paris-Dauphine PSL University is €45,600 upon completing the Wealth Management Master's program. This base salary is often supplemented by a commission based on results. Graduates enjoy an excellent entry into the job market: over 70% secure employment even before graduating.
Early in their career, a Wealth Management Advisor typically works in a family office, a term referring to a wealth management firm. Eventually, an experienced advisor may choose to operate independently, join an investment bank, an insurance company, or a private bank. They may also take charge of a department specializing in high net worth individuals or even establish their own firm.
Required skills
- Reactivity and high availability
- Excellent knowledge in wealth engineering, economics, taxation, and law
- Pedagogy to explain the rationale behind each strategic decision related to wealth and advise clients
- Rigor, follow-up, and organization
- Listening skills to understand the challenges of clients and build loyalty
Strong knowledge in accounting is also an asset for this position.
What studies are required to become a wealth management advisor?
The profession of Wealth Management Advisor requires a Master's degree, which entails 5 years of study after the baccalaureate. The Wealth Management Master's program at Paris Dauphine-PSL University can be pursued as part of a university curriculum in full-time study or through work-study programs.
It provides students with a strong general culture and cross-disciplinary knowledge in law, economics, finance, and wealth engineering that will serve them throughout their careers. Future employers can thus be assured of hiring a proven expert capable of advising clients with a comprehensive wealth management approach and genuine human qualities.
Master in Wealth Management at Paris Dauphine-PSL University
Paris Dauphine-PSL University offers a Master in Wealth Management specifically dedicated to students wishing to pursue a career as a Wealth Management Advisor. This prestigious program is also open to professionals returning to education.
This Master's program includes:
- A comprehensive curriculum with lectures in finance, law, taxation, and economics to address all the challenges encountered in professional life
- Significant immersion in the business world through work-study programs, internships, and supervised projects
- Prestigious partners such as Cyrus Conseil, AXA, Rothschild, and many others
- Numerous opportunities in all professions within the Wealth Management sector
- Small class sizes of 30 to 40 students for optimal support throughout the program
- Excellent professional integration for recent graduates