Demand for wealth management services is growing rapidly as people become wealthier and their needs become more complex. Pursuing a career in wealth management is rewarding, secure and flexible, as the need for wealth managers increases, and headcount gaps persist. Whether you’re looking to start a career in wealth management or obtain a professional qualification to gain credibility and client trust, here are three trends you should know about the wealth management industry and how the STEP Certificate in International Trust Management can support your development.
1. Wealth is increasing globally
According to a recent report [1], international wealth is growing rapidly. With more billionaires in the world now than ever before (over 2,500 in 2024), demand for qualified practitioners who can advise clients on how to structure and manage their wealth is also increasing.
As offshore trusts are expected to play a significant role in international wealth management strategies, the STEP Certificate in International Trust Management boosts the knowledge and skills of those working in the industry or those who are looking to embark on a new career in this field.
2. Growing client needs
The modern reality of families being spread out across the globe, with complicated structures and dynamics, requires careful management and planning to achieve asset protection and intergenerational wealth preservation.
It’s important to understand how you as an adviser can add value, using companies, trusts, investment products and strategies and careful tax planning.
The STEP Certificate in International Trust Management provides an introduction to the fundamental principles and practices of international trust management, which is essential knowledge for practitioners working or looking to work in this field.
3. Higher client expectations
Clients are demanding higher levels of competency and professional standards.
Professional credibility through a globally recognised and well-regarded qualification can enhance your reputation, open career advancement opportunities and give you the competitive edge over your peers.
The STEP Certificate in International Trust Management promotes high ethical standards, professionalism and best practice which can set you apart from the competition, demonstrating your commitment to continuous professional development and inspire trust and confidence with clients.
Final thoughts
With international wealth growing rapidly, demand for qualified practitioners is expected to increase. As clients’ demands grow in complexity, the need for competent wealth managers, who can adapt to changing industry dynamics and regulations, is also expected to grow. The STEP Certificate in International Trust Management will boost the knowledge of those working in the industry and provide an introduction to the fundamental principles and practices of international trust management.