Wealth managers do not need to obtain any specific qualifications by law. However, they are recommended to have the Chartered Financial Analyst (CFA) or the Chartered Wealth Manager qualification, as both are required by many employers when it comes to securing a wealth management job. Financial advisors are required to have GCSEs at grades 9 to 4 (A* to C) in English and maths, as well as a level 4 qualification in financial advice which is recognized by the Financial Conduct Authority.
We have provided for you other high-level overview reports that are closely related to this subject below;
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Wealth managers
- There are no specific qualifications required by law when it comes to becoming an entry-level wealth manager in the UK.
- Future wealth managers are usually investing either in the Chartered Financial Analyst (CFA) and/or the Chartered Wealth Manager qualification, as both are required by many employers for an entry-level position.
- Additionally, the industry benchmark across the wealth management industry is currently at Regulated Qualifications Framework (RQF) level six, which is two levels above the level four minimum for other similar positions. Level six signifies the equivalent of a bachelor’s degree.
- Both the CFA and Chartered Wealth Manager certificates are equivalent to level seven, which is why those qualifications are highly sought after by companies.
Financial advisors
- Financial advisors are required to have GCSEs at grades 9 to 4 (A* to C) in English and maths. GCSEs are obtained after finishing high school education.
- After acquiring GCSEs, the potential UK financial advisors is also required to obtain a level 4 qualification in financial advice which is recognized by the Financial Conduct Authority. These qualifications include the Chartered Insurance Institute Diploma in Regulated Financial Planning, the London Institute of Banking & Finance Diploma for Financial Advisers, and Chartered Institute for Securities & Investment Advice Diploma.
