Global Market & Global Clients but Local Specificities
The wealth management sector is growing fast in India due to strong growth rate o
f the Indian economy. It has been growing at the same pace, as per the financial reports shared by leading economists and researchers.
Further, they also predict that India will become the third largest global economy in the world by 2030. Due to the strong surge in economy and the increase in per capita income, the demand for Qualified Wealth Managers has increased manifold.
In today’s world, investors are not only looking for financial instruments, but also expecting comprehensive financial advice to meet their financial goals.
Therefore, there is a huge demand and opportunity for qualified Wealth Managers, who can manage portfolios and advise clients on multiple asset class.
With this background, banks and financial advisory firms are seeking the support of Certified Wealth Managers, who can build long term sustainable relationships with clients.
There is enough evidence that, Qualified Advisors can develop and build trust with clients on a better footing, thereby strengthening relationships.
To become Qualified Advisors, the aspirants have multiple options to learn or qualify for a wide range of courses, starting from the Certification level to the Degree level, for upskilling and expanding their knowledge.
The lists of Indian Courses/Certifications (NISM and NSE) and International Courses that help job seekers get placed in Banks and other Financial Advisory Firms as Wealth Managers are given below:
The average salary of a Qualified Wealth Manger or a Financial Planner starts from 4 Lakhs and they also earn attractive monthly and annual incentives based on the revenue generated by the organisations.
India Specific Certifications:
| S. No | Name of The Certification | Offering Institutions | Specialisation |
| 1 | NISM 5 A | NISM | Mutual Fund Distribution |
| 2 | NISM 8 | NISM | Equity & Derivatives |
| 3 | NISM 10A & 10 B | NISM | Investment Planning |
NISM: National Institute of Securities Market.
Global Certifications:
The below mentioned credentials are the most required and respected Global Certifications for those who are looking forward to demonstrate their commitment towards competent and ethical financial planning practice.
| S. No | Name of The Certification | Offering Institutions | Specialisation |
| 1 | Charted Financial Analyst (CFA) | CFA Institute | Investments |
| 2 | Certified Financial planner(CFP) | FPSB | Financial Planning |
FPSB: Financial Planning Standard Board
Authors View: The Wealth Management profession is an evergreen role in the BFSI industry and by looking at the complexities of financial instruments, it can be envisioned that firms would always need Qualified Advisors to manage their client needs.
Written by V. Hariharan, Finance professional and research scholar in Finance.
