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What Is a Private Client Advisor and How to Become One

What Is a Private Client Advisor?

A private client advisor is a financial professional who works directly with clients on behalf of a banking institution or investment firm. As a private client advisor, your job duties include identifying strategies and services beneficial to clients’ wealth management, managing complex portfolios of assets, and ensuring that all financial dealings are done within legal and regulatory frameworks. A career as a private client advisor requires you have some qualifications and post-secondary education, generally a bachelor’s degree in business, finance, or a related field, as well as several years of experience working in a financial institution, preferably in an advisory capacity. Strong interpersonal and communication skills are a must, as forming a strong working relationship with clients is necessary for building large client networks.

How to Become a Private Client Advisor

The qualifications you need to become a private client advisor include a degree and professional certification. You may begin this career by earning a bachelor’s degree in finance, accounting, or a related field. You need strong customer service skills in this job as you interact directly with clients. Some employers accept applicants lacking a degree who nonetheless have extensive experience in finance and a proven ability to work on high-value accounts; this is the exception rather than the rule, and most private client advisors begin as assistants to full client advisors before transitioning into roles with more responsibility. Some employers also prefer professional certification, as for example, the Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) certifications.