Estate Planning Specialist Career Guide

• Conduct a detailed analysis of clients’ financial situation (capital, income, assets and liabilities, expenses, etc.);
• Develop and propose a wealth optimisation strategy, often in the form of legal and/or tax arrangements;
• Answer clients’ questions, explain solutions that are sometimes complex in layman’s terms, and support them in implementing the strategy;
• Monitor clients’ financial situations to ensure that the desired objectives are achieved.

Estate planning specialists typically work as employees within three types of organisations:

• Private banks (the sector that recruits the most);
• Insurance companies;
• Specialist firms (in wealth management, for example).

In a bank or insurance company, they generally work with high-net-worth clients.

However, it is important to note that their role is not to sell financial products, but rather to advise clients on the wealth optimisation strategies best suited to their circumstances.

Some senior professionals also choose to work as freelancers.

Regardless of their status, estate planning specialists spend most of their time in the office or in meetings

Both the estate planning specialist and the wealth management adviser are tasked with helping their clients optimize their wealth. They often work together, but their roles are quite different.

• The estate planning specialist is, above all, an expert in law and taxation. They act as a strategic adviser. Their job is not to sell, but to propose the most appropriate arrangements for the client.
• The wealth management adviser, on the other hand, has a more commercial role. Ultimately, they are responsible for proposing their firm’s financial products (life insurance, investments, property, etc.) in line with the client’s objectives.

Once the estate planning specialist has proposed a solution, they may need to collaborate with a wealth management adviser to determine whether their firm offers financial products that align with the defined strategy.

It is worth noting that a wealth engineer has often worked as a wealth management adviser, or wealth manager, before progressing to this role.

A senior, qualified and experienced professional may become a Chief Financial Officer (the well-known ‘CFO’, Chief Financial Officer). They then take charge of the company’s overall financial strategy.

If they progress within a firm specialising in wealth management, they may become the head of the practice. They then lead a team of advisers, ensure client satisfaction and drive the firm’s business development.

After several years’ experience, they may choose to pursue ‘freelance work’. As an estate planning specialist, they work with their own clients, rather than those of a private firm.
Some also set up their own estate planning specialist consultancy.