Wealth-Management2

Best Wealth Management Courses ranked by Bankers (2020)

In Finance Courses & Certifications by Gaurav SharmaUpdated On:

Wealth-Management2

Wealth Management (called Private Banking by some banks) is a rapidly growing field within finance. It is driven by the rapid economic growth of the last three decades, which has been further compounded by the rapid increase in prosperity in Asia.

Wealth Managers are concentrated in financial hubs around the world. From century-old financial capitals like London, New York & Hong Kong to new hubs in Shanghai, Singapore, and Dubai. These cities are the ones where the maximum wealth is concentrated and this where banks are focusing their wealth management efforts.

Wealth Management is certainly one of the most coveted role within finance nowadays. With its rare combination of great compensation, good working hours, fast career growth and global appeal, why shouldn’t it be? If you are convinced that this is the perfect career for you, then these are best certifications and courses that will help you break in (detailed reviews follow):

Best Wealth Management Courses/ CertificationsLearn More
1. Professional Certificate in Wealth Management from NYIFPreview/ Enroll Now
2. Capital Markets & Securities Analyst (CMSA) from CFIPreview/ Enroll Now
3. Investment Management from the University of GenevaPreview/ Enroll Now
4. Investment and Portfolio Management from Rice UniversityPreview/ Enroll Now

Why do you need these Courses/ Certifications?

  1. You need to speak the language. It’s pretty hard to convince clients to give you their millions unless you can demonstrate your financially savvy. Wealth Management is highly lucrative but it is also highly competitive.  You need the edge.
  2. You need the CV value. Hundreds of candidates apply for a single opening in Wealth Management. While it is one of the fastest growing fields within finance, that also makes it one of the most coveted. You need to stand out. Your CV needs to stand out.
  3. You need to learn the nuances. Wealth Management a pretty expansive field and you need to know about every single asset class. It’s not like say, Debt Capital markets, where you only need to know your bonds stuff. Here, you need to learn everything from Florida real estate to gold, and from Indian equities to Chilean government bonds! And I haven’t even touched upon the tax aspects, risks or portfolio management (but these courses do).

1. Professional Certificate in Wealth Management from NYIF

Why pursue this certification?

  1. This is the best course on Wealth Management by a a fair margin. I shared this with a senior colleague who works in WM in Singapore and she was amazed with how comprehensive this was and insisted all her new hires take it. It’s just that good. This is what you need if you need to hit the ground running on Day 1 at a top tier wealth management firm.
  2. NYIF is a solid brand to have on your CV, especially if you are going after a career in investment banking or markets related roles like Wealth Management. Completing this certification will allow you to punch above your weight when it comes to the recruitment process. Of course, no outcome is guaranteed, but when the competition is stiff, you need every advantage you can get to stack the odds in your favour.
  3. Topic coverage is broad and comprehensive, as stated earlier. Modules cover estate planning, trusts, hedge funds, mutual funds, commodities, portfolio management and even touch on compliance issues like AML. Anyone looking to get into WM or even making a career-transition will benefit from this.
  4. Its a meaty and comprehensive course with enough content and depth to cater to learners at all skill levels. The course certainly does not skimp on the finer nuances and practical aspects of wealth management. That gives this certification a more finance industry vibe rather than an academia vibe.

Summary

  • Time to Complete: Around 75 hours.
  • Available fully online and on-demand.
  • The Best overall certification for wealth management. Best CV value and tailor made for wealth management.

Preview Course/ Enroll Now


2. Capital Markets & Securities Analyst (CMSA) from CFI

Why pursue this certification?

  1. The CMSA focuses on financial and capital markets – things like equities, fixed income, foreign exchange, commodities, derivatives etc. which is where the bulk of investment capital is parked. This makes it ideal for investment related roles including wealth management, asset management, sales & trading etc.
  2. The curriculum is highly modular and you can tailor it as per your needs. For example, if you are new to financial markets, you can choose to take some optional prep courses like Bloomberg essentials, economics for capital markets etc. This makes it suitable for candidates at all skill levels.
  3. Similarly, you can pick and choose advanced electives as per your desired area of focus. These include Behavioral Finance, High Yield Bonds, Subordinated Debt, and Loans, Trading Using Technical Analysis, Convertible Bonds, Intermediate Options – Trading Strategies etc. This makes the CMSA one of the most modular and versatile certifications related to market roles.

Summary

  • Time to Complete: Should take around 60-100 hours depending on your skill level.
  • Available fully online and on-demand.
  • A solid certification for market related roles like wealth management that doesn’t take years to earn unlike the CFA.

Preview Course/ Enroll Now


3. Investment Management from the University of Geneva

Why take this course?

  1. The Swiss do know how to manage money. Many of the global market leaders in asset/ portfolio management are Swiss Banks like UBS & Credit Suisse. This specialisation will offer you a rare glimpse into how the Swiss actually go about doing that.
  2. The best part about this course is the client centricity. That is what you need in the real world when you have to convince business moguls to hand over their precious millions over to you to manage.  There is a focus on  understanding clients needs and long terms goals and that will go a long way to make you better at your job.
  3. Even if you known the technical side of things well, I still recommend this course to get a better handle on the client side of things.  Guest lecturers form UBS and the Swiss Finance Institute pride insights during the course of the specialisation and client side wealth managers will surely find that of value.
  4. Its also a great opportunity for CV building. Getting into good Wealth Management role can be tough given the competition but it is also one of the fastest growing fields within finance. Certifications like these from top tier global universities go a long way towards showcasing your interest and skills in the practical aspect of wealth management.

Summary

  • Time to Complete: Around 60 hours.
  • Available fully online and on-demand.
  • Recommended for all front-end (client facing) Wealth Managers of those interested to get in.

Preview Course/ Enroll Now


4. Investment and Portfolio Management from Rice University

Why take this course?

  1. An excellent foundational course on Wealth Management that lays the groundwork for a solid career in the field. The objective of this course is to teach students real-world skills necessary to design, execute and evaluate  investment decisions to meet the financial goals of their clients.
  2. The curriculum is comprehensive covering everything from financial instruments, risk management,  asset evaluation, portfolio section and management and everything else a wealth manager needs to know. Its all capped off by a capstone project to cement the understanding.
  3. There are plenty of opportunities to get your hands dirty on some real world scenarios. You get to develop and manager your own simulated investment portfolio and your portfolio strategy, analysis and performance is peer-graded. You have case studies where you advise clients on strategies based on their goals and challenges. You also use online tools to look at factors that wealth managers look at in the real world for making decisions.
  4. Rice University is another solid brand to have on your CV and this certification will certainly go a long way to bolster both your credentials and your understanding.

Summary

  • Time to Complete: Around 72 hours.
  • Available fully online and on-demand.

Preview Course/ Enroll Now


5. Chartered Financial Analyst

Why take the CFA?

  1. The CFA has been the gold standard when it comes to investment management and other markets-oriented careers for decades and Wealth Management is no different. Although the CFA is not laser-focused only on WM, it does cover a lot of familiar ground.
  2. What the CFA lacks in focus, it makes up for in its brand value. It’s a well-known certification and it will open doors for you.
  3. The biggest issue with certifications like the CFA is that the gap between the exams and the long work experience requirement make it a mid-career booster. Those looking to start their careers will not be able to benefit from it.

Summary

  • Time to Complete: Several years.
  • Good brand value but takes a long time to complete and kicks in rather late in your career.

6. Certified Private Wealth Advisor

Why pursue this certification?

  1. The CPWA has been built specifically with Wealth Management in mind. While the CFA is broadly based on investment and portfolio management, the CPWA is laser focused on wealth management for sophisticated high-net worth individuals.
  2. The CPWA has rather steep work experience requirements, even more so than the CFA. It is a designation designed for mid-career transitions rather than for breaking into wealth management.
  3. While this designation may not be well suited for young professionals without the existing work experience, it is helpful for adding value to those in the middle of their careers. The brand is not as recognizable as the CFA but it is more focused on wealth management for HNIs.

Summary

  • Time to Complete: Around 6 months of preparation and 5 years of relevant work experience.
  • Meant for mid to senior level wealth managers.
About the Author

Gaurav Sharma

Gaurav started his career as a Corporate and Investment Banking intern at Citi in 2009 and eventually ended up as an Associate Director at Standard Chartered Bank’s Wholesale Banking division a few years later. By 2016, Gaurav was consulting FinTech start-ups in London with product development in the institutional banking space. He also advises mid-market Private Equity/ Asset Management firms and Banks in North America and Europe with investments in the financial services and FinTech sector. Gaurav writes on topics ranging from European Union banking regulations and FinTech to Blockchain startups and the inevitable rise of our AI overlords! He has an Engineering degree in Computer Science and an MBA with a double major in Finance and Marketing. He is also a Certified Financial Risk Manager.