Some retail banks have global asset management businesses too, allowing them to connect with investment professionals in locations all over the world to manage their clients’ assets in the best possible way.
It forms part of retails banks’ wider remit into wealth management, such as at HSBC. Relationship managers at the bank will work closely with their delegated clients, who could be high net worth individuals, financial institution representatives such as fund managers and trustees from pension schemes, companies of various sizes and even governments.
Tailor-made asset management services
Relationship managers will make sure that clients get the best services they can, tailored to their needs. These roles involve plenty of face-to-face meetings, networking, and updates to clients to let them know about how about the progress of their money pot.
They will provide advisory services, and glean information from research analysts at the bank who are hard at work researching various investment opportunities and market developments for proposals to clients.
Clients will utilise these services on an advisory level, taking the recommendations from asset management experts at the bank to help them make their own decisions on what to do with their money, and they may also choose its discretionary asset management services. These means that investment experts and portfolio managers will manage their assets on their behalf. Some will have expertise in particular asset classes – and risk management is also essential in this area!
You’ll generally need to have a finance related degree to get into this area of banking.
For years I have studied American finance regulations. All the information in this blog is sourced from official or contrasted sources from reliable sites.
Salesforce Certified SALES & SERVICE Cloud Consultant in February 2020, Salesforce Certified Administrator (ADM-201), and Master degree in “Business Analytics & Big Data Strategy” with more than 13 years of experience in IT consulting.