Q. What does a wealth manager do?
A. Going far beyond mere financial advising, the field of wealth management typically involves the coordination of multiple experts in fields that range from accounting to law. This collaboration, along with their own highly specialized credentials, allows wealth managers to comprehensively oversee all aspects of estate tax administration and other complex financial matters. Although not all wealth managers work with extremely wealthy clients, they generally gear their services toward high-net-worth individuals.
Q. How do I become a wealth manager?
A. There is no single path to becoming a wealth manager, but extensive wealth management education is an absolute must. Almost all wealth managers hold at least an undergraduate degree in finance, accounting, economics, business, or another relevant field. To truly excel in the profession, most aspiring wealth managers also complete a wealth management program at the graduate level. For attorneys, this most often means an LL.M. in wealth management or another wealth management program at the graduate level.
Q. What degree is best for wealth management?
A. Because wealth planning law is so integral to the success of wealth managers in the professional environment, the Master of Laws (LL.M.) is an extremely beneficial wealth management master’s degree. At Texas A&M School of Law, we believe that the best online wealth management program is the one that works for you. For this reason, we offer LL.M. and MLS programs that both lawyers and nonlawyers alike can complete on their own schedule.
Q. What are the benefits of pursuing a career in wealth management?
A. In short, your earning potential as a wealth manager is excellent. Because the account minimums demanded by most wealth managers are quite high, their advisor fees and profit percentages are extraordinarily attractive. Wealth managers also enjoy an exciting work environment that presents new challenges daily.
Q. What is the difference between a wealth manager and a financial advisor?
A. “Financial advisor” is an extremely broad term that refers to all manner of financial professionals. The term “wealth manager,” by contrast, applies only to financial advisors with the advanced skills and resources to handle the complex functions that go hand in hand with managing large sums of money for extremely wealthy families and individuals. In addition to their specific expertise in high-net-worth management, wealth managers tend to require higher investment minimums than those of a general financial advisor.
Q. Why should I pursue wealth management education at Texas A&M Law vs other online LL.M. or MLS programs?
A. Because it is conducted entirely online, the LL.M. program at Texas A&M Law gives busy professionals access to a high-quality education on their own schedules. Furthermore, Texas A&M Law instructors are industry leaders who are ready to share a lifetime of learning with a practical focus. Not only is there access to industry leading instructors, the Aggie Network, which is more than 500,000 strong worldwide, provides a rich tradition of looking out for one another and career support.