Wealth Management: the new generation of financial advisors

20 June 2019

The term Wealth Management is now firmly present among financial consultants, in the offices of banks and insurance companies, consultancy companies and real estate brokerage agencies. But what is it actually about? Wealth Management is a natural evolution of private and investment banking and represents the new frontier of consultancy offered to customers and companies by financial intermediaries, both private and those of major banks.

The pivot of Wealth Management is consulting, which consists of a 360-degree approach to the financial health, but not only, of the beneficiary of the service. This transversality is made possible by the fact that heritage is no longer divided into assets of its own, but is managed as a single body that must be handled by specialized professionals.

Wealth Management responds to the new need for integrated asset management with its ability to interpret financial changes, exploit international taxation and support customers in their choices. In the complexity of today’s global market, in fact, a traditional financial advisory service is no longer sufficient, but professional knowledge is needed, ranging from financial to legal, tax and technological aspects.

It is indeed the technology that changes the way we understand consulting, by offering the tools for a personalized, complete and consistent experience. However, the aforementioned customization has also created quite a few doubts in relation to the issue of privacy. Consumers, in fact, are increasingly at ease in sharing their personal data to ensure a service, a product or a result tailored to their needs.

In a report carried out by the London-based consulting firm Scorpio Partnership and published by Wall Street Italia, it is shown how the client’s role in financial consulting has changed. “We all know that asset management should be built on customer needs,” reads the article. “Given the amount of confidential information that is exchanged between a client and his consultant, it is difficult to think that their relationship is not constructive and profitable. However, there are very few realities that can put into practice what they have learned from the relationship with the client. In other words, everyone listens but only a few are able to translate what they were told into practical actions.” A change of course is therefore necessary and they are precisely the relational abilities of professionals operating in the Wealth Management that outline the new trajectory.

The specialized figure that operates in the Wealth Management sector is the Wealth Specialist. Whether working with individuals or companies, this figure has the task of managing the resources and taking care of the assets in all their aspects. In particular, within companies the Wealth Management Specialist plans and adopts strategies to guarantee high profits, starting from very specific investments. Not surprisingly, it is a professional in great demand on the part of companies that aim to grow by making the best use of the resources. That of the Wealth Management Specialist is a dynamic professional figure, who proposes an unprecedented and modern way of creating wealth, by optimizing the asset management according to the investor’s objectives.

Bologna Business School, through the Master in Wealth Management, provides the necessary preparation to undertake a high-level career in the field of asset consulting. The Master is designed to train professionals with high interpersonal and communication skills, able to manage risks in line with the recent European regulatory provisions on investment advice. Combining the academic knowledge of the Faculty with the presence of professionals in the sector, the program provides the market analysis tools necessary to propose a consultancy adapted to the needs of each client.


Back To Top