Education Required to Become a Wealth Manager
A career as a Wealth Manager requires a certain level of education in order to be successful. While a formal degree is not always necessary, having a degree in finance, economics, or accounting is highly recommended to those who wish to pursue a career in this field.
Additionally, many employers may require a CPA or other financial certification.
At a minimum, a bachelor's degree is typically required to become a Wealth Manager. A master's degree in finance or a related field is often preferred and can be beneficial in obtaining a higher level position. Those with advanced degrees, such as an MBA, will have even more opportunities available to them.
In addition to a degree, many employers may also require the completion of certain courses or exams. These may include the Series 7 and Series 66, which are tests administered by the Financial Industry Regulatory Authority (FINRA). Additionally, many Wealth Managers are required to obtain a CFP (Certified Financial Planner) certification.
Finally, Wealth Managers must stay up to date on new laws, regulations, and trends in the industry. It's important for them to stay abreast of changes in the economy and stock market, so they can make informed decisions for their clients.
As such, continuing education courses are often recommended for those who wish to remain competitive in this field.