How to get hired
"Relationship Manager" covers three quite different jobs in wealth. Know which one you are interviewing for.
- Bank wealth and priority banking RMs manage customers who keep large balances with a private bank. You sell the bank's investment and insurance products, keep the customer happy and catch money that might leave. Banks like Kotak Mahindra Bank, IDFC FIRST Bank and DBS Bank India hire for this at branch and city level.
- Private banking RMs look after a small number of very wealthy families and business owners, usually with a minimum of several crore in investable assets. These roles want years of wealth experience and an existing client network.
- Distribution and wealth firms (mutual fund distributors, broker wealth arms, wealth platforms) hire RMs and "Associate RMs" who acquire new clients, often over phone and video first.
The licences, in the order you need them
- NISM Series V-A (mutual fund distribution), then an ARN and EUIN from AMFI after completing Know Your Distributor. This is the baseline almost every wealth employer asks for.
- NISM Series V-D if you will sell Specialized Investment Funds. Under SEBI's 21 July 2026 circular, V-D covers both mutual funds and SIFs, so you don't need V-A separately. Series XIII no longer qualifies for SIF distribution after 21 September 2026, though people who got it by that date can use it until it expires.
- NISM Series XXI-A if you will distribute portfolio management services (PMS).
- An IRDAI certification through your employer's corporate agency if you will sell insurance.
- NISM X-A and X-B if you want to give fee-based investment advice as a SEBI-registered investment adviser or for one. SEBI's November 2025 amendment widened eligibility to graduates more broadly; read the regulations before you plan this route. Sales and support staff at advisory firms have a separate, lighter certificate (Series XXV-B).
NISM certificates are valid for three years, so keep track of renewal dates.
What the interview checks
Expect to explain the difference between equity, debt and hybrid funds, what an SIP is, why direct and regular plans differ in cost, what term insurance covers, and how you would build a portfolio for a 35-year-old salaried client with a home loan. Senior roles ask about your current book: the assets you manage, how many clients, how many you would bring. Be truthful; claims are checked.
Getting in without a client book
Freshers usually come in as Associate RM, Assistant RM or through a bank's branch sales roles, then move to wealth after a year or two of clean selling. An MBA in finance, CFP or CFA levels help at interview but don't replace the NISM licences.
Moving up
Associate RM, RM, Senior RM, then Team Leader or Cluster Head – Wealth. Private banking RMs move further up to Director or Executive Director titles at larger banks. The biggest pay jumps come when you switch employer and some of your clients follow you, which is why employers check your book closely.
What the work is like
The targets are measured differently from loan sales: assets under management, net new money, revenue from products, and how many clients are active. Bad markets hurt: in a falling year, clients want reassurance, not new products, and your revenue drops while the calls get harder. Mis-selling, such as pushing a high-commission product to a client who needed something simple, gets punished by both regulators and employers now. Weekends often include client meetings and investor events.