Money managers or investment managers help you in spending and investing your hard-earned money wisely and help you to set goals that can give you fruitful results in future. A money manager is also expected to keep in touch with his clients on a regular basis and provide updates on their client’s investments and its status. A study conducted by the website indeed.com found that, on an average, a money manager takes home a salary of $72000 per year. Now, that’s a handsome amount. So, what are the steps to become a daily money manager? In this article, we will discuss in detail on how to be a money manager and the skills you need to acquire for it.
To take up the career of a money manager, you need to acquire a degree in finance. MBA in the same stream will be an added advantage, as many employers prefer aspirants with an MBA. A degree and MBA in finance will get you acquainted with investment concepts and banking affairs.
Certifications can always boost your career and the certification program of the Certified Financial Planner Board of Standards is considered worthwhile. A bachelor’s degree and a minimum work experience of three years make you eligible to enroll for this program. The certification exam includes topics, which test your risk management ability, financial management process, retirement process, emergency fund reserves and liability. Once you become a certified professional, you become a favorite with the employers as your portfolio management skills are tested and certified.
Attain key skills
Acquiring key skills in analytics is very important to become a successful money manager. Acquiring a degree in finance will not suffice for this. You only learn the basics in investments and money management with the degree program. Industry exposure is the key to develop your skills. So, if possible do your internship in a reputed firm, as this will be an added advantage. You are also expected to improve your communication skills when you deal with your clients. Keep in mind that, most of your clients may be new to stocks and investments field and you should be able to make clear all the doubts that your client may ask.
Hope the tips above helped you in understanding the various aspects of becoming a money manager. A good money manager is also a daily money manager at home. Start spending your money wisely and let this start from your home. Only then, you can successfully manage the money of your valuable clients.