Aakar Rastogi

Career in wealth management?

Does the CWM (Chartered Wealth manager) certification from AAFM India a good choice to make a career in wealth management? Or Is CFP (Certified Financial Planner) better. What kind of starting salary can be expected? My other qualifications are CA Inter, PGDBA (Finance) from SCDL, Pune (Distance Learning) and BCOM(H)

by Aakar Rastogi
13 answers
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13 answers

RE: Career in wealth management?

Surabhi Dewra
Surabhi Dewra
Verified Career Expert
Founder and CEO at CareerGuide.Com
  • Noida

RE: Career in wealth management?

Aakar Rastogi
Aakar Rastogi

Thank you Surabhi for directing my query to other counsellors.

RE: Career in wealth management?

Meghna Mukherjee
Meghna Mukherjee
Verified Career Expert
Counselor at Adaptive Minds
  • Mumbai

Hi Akar,

Firstly thanks to you and Surabhi, because of you two, I got into the Research myself, or being a layman, I too would not be able to properly differentiate between the two.

Aakar, also as I see, your qualifications, I am sure, you yourself have an excellent idea[ about the major difference between the two fieldsBut never-the-less, since it has been directed to us, I shall lay down certain points which clearly brings out the major difference and can help you decide accordingly.

A certified financial planner, also called a personal financial advisor, works with individuals and businesses to guide them in making budgetary, savings and investment decisions.
They are mainly related to managing wealth only for Individual Investors.
They make use of Asset Allocation and Risk management.

Chartered Wealth Managers looks into a comprehensive aspects of Wealth Management like [Investment][Strategies]3]2, Inter generational Wealth Transfer, Relationship Management, Alternative Products, Real Estate Valuation and Global Taxation.

  

Another Difference is, that Financial planners help individual holders to manage their finances by reading the market or rather Analyzing the market through risk assessments, and once the wealth is created, managing the wealth as a comprehensive manner involving budgeting and investment is] the work of a wealth management.]6

Anyways though both the profiles are for Wealth Creation, But a wealth manager works at the comprehensive level, who makes the analysis, the laws, rather the rules and regulations on which the assets needs to be managed and at the same time decides on the mutual benefit for the customer and the organization and divides the percentage equally, but helping the company or rather the market as a whole to make wealth and with that the individual investor too.

Hope this helps you in someway.

Wish you good luck..........

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RE: Career in wealth management?

Aakar Rastogi
Aakar Rastogi

Hi Meghna,

Thank you so much for taking out time and helping me by doing the needful research about CFP & CWM.

After going through all the information I feel more inclined towards CWM but concerned in regards to the recognition, value & acceptance in the Job Market for both of these courses as to which one has more value?

Thanks & Regards,
Aakar Rastogi

RE: Career in wealth management?

Meghna Mukherjee
Meghna Mukherjee
Verified Career Expert
Counselor at Adaptive Minds
  • Mumbai

Hey Aakar,

As far as I am aware of the Financial Markets, and we being layman in this Financial world, mostly the CFP exists.


Since we are more concerned with our own finances and we wish someones assits us with managing our wealth.

But do not forget, the man behind CFP are the CWM.

Though please note these are recent qualifications that have arisen in the markets, to sustain in the industry and being able to categorize employees in various functions.

As you have rightly mentioned, CFP came into the market first, and was then followed by the CWM post.
Though being new it still exists and mind you it would take sometime to reach the masses.

So you would have to have the necessary patience and at the same time be persistent with the work, recognition would follow.

Who knows, you may be the trendsetter for this position.

Wish you all the very best..........

Is Financial Planners your Ideal Career -- Take Ideal Career Test to know it --> Click Here !

RE: Career in wealth management?

Aakar Rastogi
Aakar Rastogi

Hi Meghna,

You have given a very nice point to consider i.e. to keep the necessary patience and persistent work efforts in case I opt for CWM.

Thank You

RE: Career in wealth management?

Rajesh Gupta
Rajesh Gupta
Verified Career Expert
CEO at Streamlinez Training and Consultancy Services
  • Noida

Hi Aakar,

Congrats that you made your choice.

Just seen your question and it created one more question, "What do you want to do?"

CWM or CFP are the certifications especially designed for financial practitioners and you are looking for a job.

A job has conflict of interest when you have to work in the interest of the client.

I am a CFP and running my own practice since 2004 and I know what are the challenges.

You have done PGDBA and CA Inter already and I am sure you are pursuing to become a CA finally.

I would advise you to think about it once again.

regards

Is Financial Planners your Ideal Career -- Take Ideal Career Test to know it --> Click Here

!

RE: Career in wealth management?

Aakar Rastogi
Aakar Rastogi

Hello Rajesh Sir,

Thank you for taking out time and helping me.

No doubt, I'll be pursuing CA Final but want to give a break for some as I have already went through some unsuccessful attempts. In the meanwhile I plan to look for some alternative career option only with a view to safeguard my career and keep a backup option. I have done PGDBA through distance mode so it doesn't hold much value in the market. CFP & CWM came into my mind for the same reason but after the research i have done in past few days I feel that in this field experience matters more than the qualification and the work primarily involves selling financial products. Please correct me if I am wrong.

What would you suggest me to do? Shall I pick up CFA Level 1? I basically need something to boost up my career.

Thanks & Regards,
Aakar

RE: Career in wealth management?

Aakar Rastogi
Aakar Rastogi

I would further like to add that i have recently started working with a finance magazine Outlook money wherein my profile is basically into assisting my seniors in creating & researching data and content for the mag. This further forces me to think if I should go for some course in media or journalism?

RE: Career in wealth management?

Surabhi Dewra
Surabhi Dewra
Verified Career Expert
Founder and CEO at CareerGuide.Com
  • Noida

Good to know you are in a job which requires your financial knowledge. My suggestion will be dont think about doing any course for few months and learn , enjoy and grow in job. Once you have exposure in job you will be better able to decide - if a financial course or journalism course + by then you will ready for CA final attempt ( you mentioned you have given it a break for a while)

Is Financial Planners your Ideal Career -- Take Ideal Career Test to know it --> Click Here

RE: Career in wealth management?

Aakar Rastogi
Aakar Rastogi

Dear Surabhi mam,

Thank you for answering my query. Yes, I want to give a break to CA for some time as I am unable to concentrate on studies (particularly & only CA studies as the uncertainity of the result keep haunting me. I really like your suggestion of only concentrating on my job for some time but only fear that it might be too late for picking up any course if I delay more as I am already 25 frowning & need to boost my earnings. I feel I am already too late to start all this.

Regards,
Aakar

RE: Career in wealth management?

Dr. Anand Wadadekar, PhD
Dr. Anand Wadadekar, PhD
Verified Career Expert
Founder & CEO: Discovering Careers India
  • pune

Dear Aakar,

I am very glad to see you approach CareerGuide.com for seeking guidance and clarifications for your career development. Let me assure that you have selected the right platform to get advice from.
I think I can guide you considering my more than 10 years of experience in counselling and industry. I appreciate your detailed query.

Your PGDBA will not be very much useful and recognised & valued in the industry since you have done it without any work experience. Distance management programmes should be done preferably only by those who are working and wish to enhance their knowledge and get promoted or switch job for betterment.

CA Inter qualification is not suitable along with CFP or CWM. Those tow are different.

I would suggest you not to wander here and there and run behind getting qualifications. Skills are those which matter and not juts qualifications.

I think you should remain into finance and not get into finance planning or wealth planning.

Please do get back to me in case you are still wanting to ask some thing or require any more clarification or guidance. I will be very glad to help you out and see you become successful in your career.

Best wishes,

Dr. Anand Wadadekar
Founder Director & CEO - Discovering Careers India

Is Financial Planners your Ideal Career -- Take Ideal Career Test to know it --> Click Here

RE: Career in wealth management?

Aakar Rastogi
Aakar Rastogi

Thank you for helping me out sir.

Regards,
Aakar

RE: Career in wealth management?

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