Wealth management hiring is increasing, so it's worth updating your resume to ensure it's aligned with what HR managers are looking for. While the basics remain the same, there are a few new things that can make your resume shine and stand out from the rest of the pack.
Related: Wealth Management Hiring Roundup | How to Write a Wealth Management Resume
Stress a Generalist Background
"Very few individuals with a specialist background are being sought right now," says Anthony Riotto, founder of Riotto-Jones & Company, a search firm that specializes in wealth management and receives about 65 resumes a day. Firms are looking for generalists who have experience with dealing with a broad range of clients and who are able to sell a broader range of products. Familiarity with various asset classes and the ability to construct diversified portfolios will make you a more impressive candidate.
Have the Experience to Back up Your Claims
For Jeannie Hwang, executive director of client services at RMG Associates, a recruiting firm that caters to High Net Worth/Ultra-HNW clients, simply listing hot buzz words on a resume won't clinch you the interview. If you reference "affluent/ultra-affluent," "family office/multi-family office" in your book of business, you need to be able to describe quantitatively what you've done. "I look for quality and depth of experience," says Hwang. "Length of work in wealth management or like field, types of firms, years of work at each firm, roles, certifications, etc."
Speaking of Certifications...
Many wealth management jobs require a CFA or an MBA. Some business development positions will look for a CFA or CFP. At RMG, wealth strategists comprise a significant hiring area, and these positions mandate a tax background and possibly a CPA, LLM or JD. Start slurping your alphabet soup.
Now Is the Time for a Conservative Approach
After the roiling markets of 2008 and 2009, firms are seeking to reassure clients with wealth managers who understand the appeal of being risk-averse. "It's important to emphasize risk management," says Beth Colley, principal of Chesapeake Resume Writing Service. "You'll need to be able to identify where the risks are and how to protect against them." By emphasizing a conservative approach and tailoring your resume to current market conditions, job candidates can reassure employers that they're in it for the long haul.
Emphasize International Experience and Understanding of Global Trends
Many of the wealth management jobs up for grabs are scattered around the globe. If you're willing to head to Asia or Europe, language skills (or the willingness to learn), education abroad, and familiarity with the local culture are all helpful qualifications. "We look for some kind of connection to the new job location where it would make sense for the applicant to want to move there and remain there -- even vacation travel helps," Hwang says. "The last thing a firm wants to do is to invest time, effort, and money into bringing a candidate out for the interview process, then, if he or she gets the job, moving them and have it all fall apart because the candidate is unhappy with their new geographic location."
Write to Julie Steinberg