The account manager's job is to look after the finances of the client. In most organizations, the clients are alloted personal account managers to handle all their financial including other professional matters. Like in a brokerage, the clients are provided with separate fund managers to manage all the trading of shares. Though, the managers are paid by their companies, they might hold other revenue sharing agreements with the clients beforehand.
These professionals need to be quite practical while dealing with the accounts of the clients. They are expected to solve all their financial queries and help them with their investments. Besides, they have to calculate all the taxes, make payments, and issue checks on behalf of the clients. Although such scenarios take place rarely, the managers may require to question the clients on their investments. They have to keep the best financial interest of the customers at heart.
One of the most important requirement to become an account manager is being well-versed with all the latest financial tools. This field also demands a good understanding about the entire standard accounting procedures and their application apart from all the methodologies that could help the clients save taxes. In short, the financial knowledge of these professionals should be up to the mark. It is beneficial for them in the long run as they are also involved in the revenue sharing agreements with the clients. Moreover, they are also required to charge a certain percentage of amount on the accounts.
Take a look at some of the vital job duties listed under this profile.
Account managers can move to higher management positions or oversee related accounting streams. They may even get a chance to head certain teams of accountants or become managers of the same companies they work for.