Wealth managers typically work in office settings at banks, investment firms, or private financial institutions. They often meet with clients in person or via video calls to discuss financial goals, review portfolios, and offer advice. Some travel to meet high-net-worth clients or attend financial events, but most of their work is done at a desk with computers, financial tools, and reports.

Wealth managers work with individuals—usually wealthy clients—to plan their financial future. They create investment strategies, manage portfolios, give advice on retirement planning, tax strategies, estate planning, and more. Their goal is to increase a client’s wealth while minimizing risk and ensuring long-term financial security. They monitor markets, make financial decisions, and adjust plans based on changes in life or the economy.

Wealth managers must be highly trustworthy and professional, since they deal with large sums of money and sensitive personal information. They should enjoy working with people and be skilled at building long-term relationships.

Wealth managers need strong financial and investment knowledge, including how markets work, how to build diverse portfolios, and how to plan for retirement or estate transitions. They must be excellent communicators to explain complex financial ideas clearly.

Entry-level wealth managers might earn around $70,000 to $90,000 per year, while experienced professionals managing high-value portfolios can make $150,000 to $250,000 or more—especially if they work on commission or bonuses based on the growth of their clients’ assets. Some top-level private wealth managers earn even more.