what is a client service manager - wealth?

As a wealth client service manager, you lead a team of professionals who are dedicated to providing exceptional service to clients. Your focus is on ensuring that clients are treated with respect and that their concerns are addressed promptly. You collaborate with financial advisors and other wealth management experts to deliver the best possible services to clients. Your role may also involve working with sales teams to attract new clients by guiding them through the contract or investment process.

As a client service manager in the wealth management industry, you may work for banks, insurance companies, investment firms or financial advisory firms. Your responsibilities involve assisting clients from diverse industries in building wealth and managing various financial products. You may specialize in certain financial products, such as securities or investments in manufacturing and mining companies. It is important that you have a thorough understanding of financial regulations and policies related to trading in Australia, including stocks, mutual funds and bonds. Your specific duties will depend on the financial institution you work for.

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average client service manager - wealth salary

As a client service manager in wealth you earn a base salary of  $70,000 - 80,000 annually when you are new to the role. As you improve your experience and skills, your earnings rise to over $100,000 yearly.

how to increase the salary of a client service manager - wealth

As a client service manager in wealth management, your salary is based on your level of expertise. If you have extensive experience working with financial products, you can expect to earn more. The complexity of your duties also affects your earnings. Managing a large team of client service associates typically pays more than managing a small team.

Your earning potential is also influenced by your employer. Large investment firms have more resources and may offer higher salaries than smaller companies. Additionally, working in metropolitan areas can increase your earning potential due to the high demand for client service managers in wealth management.

Want to know what you will earn as a client service manager - wealth? Check out what you are worth with our salary checker.

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types of client service managers - wealth

As a client service manager, you can specialise in offering the following types of wealth management services:

  • financial planning: your focus is advising clients on financial decisions based on their finances to help them reach their short-term and long-term goals. You answer client questions on budgeting, investing and saving for retirement.
  • asset allocation: as a client service manager, you assist clients with creating an investment strategy based on their financial goals. You help your clients balance risks and rewards and answer questions on investing in assets.
  • asset management: you assist clients with managing their money and purchasing stock and bonds. You help them set up appointments with financial advisors on the securities to invest in.
A photo of a woman smiling while looking to the left
A photo of a woman smiling while looking to the left

working as a client service manager - wealth

Working as a client service manager - wealth requires financial acumen and customer service skills. Let’s explore the duties, responsibilities and work environments associated with the role.


education and skills

There are no mandatory educational qualifications to become a client service manager. However, the following academic qualifications prepare you for the role:

  • educational qualifications: complete a bachelor’s degree in commerce, accounting or business management. If you don’t qualify to join an undergraduate program, start with a Certificate III in business customer engagement or leadership and management. The courses will help you develop skills to handle complex client requests.
  • experience: you need work experience to gain more skills in the role. You can find entry-level jobs in customer service. Start as a client service associate in financial services, insurance or wealth and asset management to boost your experience in client service. If you have a background in retail or sales, you regularly interact with customers and gain the foundational experience necessary for the role.

client service manager- wealth skills and competencies

Some of the qualities of a client service manager in wealth management include:

  • communication skills: as a client service manager - wealth, you communicate with clients and customer service teams through various media. Your role requires strong communication skills to receive and share information. For instance, you need verbal and written communication ability, both formal and informal, to adjust your message to the target audience.
  • leadership skills: as a client service manager, you require exceptional leadership skills to manage other client service associates. Your leadership abilities help you develop an environment that inspires your team to perform at their peak. You also require motivational skills to encourage better performance among employees.
  • computer skills: as a client service manager in wealth, you require proficiency in using computer software. Your team relies on software to provide organisation and structure, and you should possess computer skills to operate the software.
  • analytical skills: as a client service manager in wealth management, you operate multiple client accounts. Analytical skills help you check the contracts and avoid errors in the documents. Your attentiveness to details and analytical skills are crucial when negotiating contracts and ensuring legal protection for clients and the company.

FAQs about working as a client service manager - wealth

Here, you will find the answers to the most frequently asked questions about the profession of a client service manager - wealth.

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