NTUC Auditorium at One Marina Boulevard was packed on Friday afternoon 19^th March 2010. Over 350 students and professionals interested in learning more about wealth management had gathered for an afternoon of sharing and insights.

Nanyang Technological University Investment Interactive Club (NTU-IIC) organised its very first major Wealth Management Conference (WMC), targeted at tertiary students and the public. This event is in-line with NTU-IIC’s vision of promoting financial literacy. With its theme “Preparing to Take Centre Stage”, Wealth Management Conference 2010 focused on not just wealth management as a whole, but also as an exciting career option.

As mentioned by the Guest-of-Honour, Mr Paul Yuen, CEO, Institute of Banking and Finance, the financial landscape has experienced several changes, such as the slow recovery of global economy and the increasing significance of Asian economies. WMC thus came at just the right time to allow people to discover the on-goings in the industry.

Sponsored by Citi Private Bank, Nanyang Technological University and Securities Investors Association (Singapore) and supported by Young NTUC and SIAS Youth Chapter, WMC creates a new platform for people, especially undergraduates, to learn more about the roles and requirements of wealth managers, and to promote a better understanding of this burgeoning sector among the masses.

The programme line up consisted of informative seminar presentations and panel discussions by wealth management experts from academia, banks and private entities to share their insights about the different aspects of this dynamic industry.

The five-hour conference featured topics such as wealth management from an Asian perspective, opportunities and challenges present in the industry, urban myths of private banking and also the profile and attributes of an excellent private banker. It served to provide the audience a holistic picture to decide whether the industry is right for them.

The conference started off with Ms Jennifer Tay, Managing Director and Head of Investment Advisory & Sales Unit, Investment, Asia Pacific The Citi Private Bank, providing a brief introduction about wealth management. In a gist, she explained that wealth management is about taking a holistic assessment of the clients’ backgrounds and circumstances in devising a suitable plan to achieve their desired wealth growth.

In the light of the recent financial crisis, the first panel discussion centred on what went wrong and what have to be improved for the private banking sector. The panel agreed that more have to be done about the way private bankers approach their clients and the fact that clients are responsible for educating themselves about the financial products that they bought.

When interviewed, Sudhanshu Ahuja, a third-year engineering student commented that “The inputs from the panellists were particularly informative for someone curious [about the industry], but lacking knowledge like me.”

During the break, the participants were presented with the opportunity for further interaction with the industry leaders. The hour-long networking session received tremendous response. The speakers and panellists were pleased to find many interested in the wealth management sector, while participants mentioned being intrigued by the ample opportunities raised by the presenters.

As Business student, Foong Wei Jie remarked, “I am enlightened by the advice given by the distinguished professionals during the networking session. It helped me understand how to build towards a career in finance’.

Another engaging presentation by Ms Anthonia Hui, CEO, AL Wealth Partners Pte Ltd, addressed some of the common myths about private banking. She shared that one certainly does not have to be rich to excel in the industry, but to have strong interpersonal skills and high service excellence to maintain amiable relationship with one’s clients.

Judging from the overwhelming response, WMC 2010 was clearly an event well-organised and effectively executed. The organising chairperson, Ms Lee Wanli concluded, “I am happy with the quality of the conference and the number of participants that showed up. I hope it was useful and would like to thank my organising committee for making it possible”.

Commenting on the conference, Ms Tulika Tripathi, Managing Director, Michael Page International expressed that “Questions by the students were indeed very practical, showing their desire to understand the real-world challenges better.”

Mr Leonardo Drago, Co-founder and Chief Investment Officer, AL Wealth Partners Pte Ltd, ended off with a useful advice for students aspiring to a career in the wealth management industry, “Explore other options to gain broader exposure, such as becoming investment bankers or foreign exchange traders. They will help prepare you for a career in the field of private banking.”