A relationship manager is one term for the client-facing staff member who is responsible for service delivery by a team for a particular client. Other names for this role include senior client advisor, managing director, or wealth strategist. The role is typically filled by a professional with a financial services education and background, including credentials such as CFP, CFA, and/or CPWA, but the advisor may also have education or credentials in the legal or insurance fields.
The relationship manager (often abbreviated to RM) role is a more broadly-based role than that of an investment advisor, an individual who has primary responsibility for overseeing or discussing a client’s financial portfolio or asset management. The RM often coordinates the activities of the client’s investment advisor(s) and other team members who handle administrative or back-office tasks on behalf of the client family.
Relationship managers with extra expertise and skills for managing the complexity of clients’ needs and services may achieve the level of an expert generalist or integrated wealth advisor.
See Also: Integrated wealth advisor and Expert generalist
Mack, Linda C., and Michael Zeuner. “The Missing Link for Family Offices.” Campden FB, September 30, 2015. https://www.campdenfb.com/article/missing-link-family-offices.
