Chartered wealth manager

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Chartered wealth manager
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Chartered Wealth Manager is a person specializing in professional wealth management (A. Mirza 2016, pp. 1-4). This title is awarded by the Global Academy of Finance and Management (GAFM), formally the American Academy of Financial Management (AAFM). In order to obtain it, it is necessary to obtain professional competence in management and financial consulting, as well as a degree in the fields of marketing management, finance, financial mathematics, tax law, balance sheet law and general economy (A. Mirza 2016, pp. 1-4). A certified chartered wealth manager has at least five years of experience in financial advisory and comprehensive wealth management of his clients (A. Mirza 2016, pp. 1-4). The main objective of the chartered wealth manager t is to maintain the value of the managed property in the long term, to multiply it safely and to transfer it to the heirs in the most beneficial way from the financial point of view (A. Mirza 2016, pp. 1-4).


Candidates for the position of chartered wealth manager must meet a number of formal requirements, which include not only the level of competence and professional qualifications, but also the degree, work experience and training received and licences and certificates held. The most important requirements for a candidate for a position as a chartered wealth manager include (M. Stone, 2002, pp. 84-97):

  1. A minimum of three years' professional experience in the relevant sectors:
  1. Obtaining a degree or diploma in one of the above fields of study, a licence or a professional certificate recognised by the government (M. Stone, 2002, pp. 84-97)
  2. Have attended thematic or online training courses of at least 15 hours per year
  3. Present all his/her qualifications, documents, certificates, diplomas, certificates and licence (M. Stone, 2002, pp. 84-97).

Scope of services

The basic services provided by Chartered Wealth Manager include (P. Chowney, E. Fragnière 2014, pp. 3-7):

  • asset management and related financial advice,
  • investment management and financial consulting,
  • accounting/tax services,
  • heritage planning,
  • serwis concierge.

Asset management and related financial advice must be in line with the expectations and preferences of the client, tailored strictly to his needs, although not necessarily risk-taking (P. Chowney, E. Fragnière 2014, pp. 3-7). As it is emphasised, assets, especially their financial part, should not be subject to speculation. This is because it is of a short-term nature, bears a high or very high investment risk and may lead to high negative rates of return, which in turn may contribute to the loss of significant value of assets and thus the status of a wealthy or rich person (P. Chowney, E. Fragnière 2014, pp. 3-7). The wealth management advisors want to avoid such a situation at all costs - even if the client is attracted to risky plays, they try to dissuade him from such investments or at least limit his involvement in risky instruments to e.g. 10-20% of the value of the investment portfolio (P. Chowney, E. Fragnière 2014, pp. 3-7).

Every client of chartered wealth management has a personal wealth manager. For the purpose of comprehensive and professional customer service, his assets are divided into financial and non-financial assets, and then transferred to management teams of advisors specifically appointed for this purpose. The financial part of the assets, depending on their structure, is divided and directed to the following teams of people (P. Chowney, E. Fragnière 2014, pp. 3-7):

  • wealth planners, wealth strategists, who advise clients on short and long term asset multiplication and propose groups of instruments or products that a client should be interested in (e.g. stock exchange instruments, investment funds, modern investments, etc.);
  • investment brokers who manage the direct investments of clients on the capital market (both public and private);
  • investment managers and advisors, dealing mainly with the creation of individual portfolios and indirect investments in investment funds (traditional and modern).

The non-financial part of the assets is handled by persons or teams of advisors who specialise in such assets and have contact with a given market (W.W. Jennings, et all., pp.8-14) . For example, client real estate will be taken care of by real estate professionals, while luxury goods will be taken care of by people with contacts and knowledge of the market for yachts, airplanes, old cars, etc. The financial assets will be taken care of by people who specialise in such assets and have contact with the market (W.W. Jennings, et all., pp. 8-14).

Wealth management can also be defined as a combination of investment consultation, advanced planning and relationship management. Investment advice is considered to be the core of wealth management services and is the starting point for wealthy client relationships. Advanced planning focuses on the most important decision areas of wealth management clients, and is one of them: This includes "growth, capital transfer and protection, as well as charitable donations" (W.W. Jennings, et all., pp.8-14) . Relationship management focuses on a thorough "understanding of the critical needs of the client" and their planning over time, on maintaining contacts between the wealth manager and a group of financial experts, and on the joint work of other advisors (accountants, lawyers) with the client (W.W. Jennings, et all., pp. 8-14).

Use of chartered wealth manager services

The aforementioned method of wealth management began to develop in the 1990s, especially in the USA. Currently, people in the position of chartered wealth manager mainly provide services related to (R.J. Sullivan, K. Spon, 2005, pp. 34-37):

  • private banking,
  • asset management and investment consulting in a similar scope,
  • financial engineering and asset planning, in particular tax and inheritance planning,
  • private equity, venture capital and alternative funds, including hedge funds,
  • insurance planning,
  • non-financial advice, real estate, investments in works of art and other so-called emotional investments.

In addition, the chartered wealth manager acts as a comprehensive personal financial guardian for the individual client. To this end, he monitors the markets for the client and warns him about new opportunities or potential threats that may affect his finances (R.J. Sullivan, K. Spon, 2005, pp. 34-37).


Author: Karolina Szlachtun