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As someone in this role handling UHNW clients - I spend most of my time writing reports on behalf of wealth managers. We obtain client & meeting information from the advisors with a vague idea of what they would like to do with their money, and then we construct the detailed plan, incl. Investment strategy, estate planning, use of tax advantaged accounts, financial protection, et cetera. 

It's quite tedious as, especially in the UK, the regulations are vast and all advice to clients must be 'suitable' from a regulatory standpoint. There are lots of particulars and specific scenarios which you need to be knowledgeable about. Transferring certain pensions and complex products can get tricky. We write the reports, with all surrounding documentation, and hand over to the advisors for them to present to clients. Most firms gauge your performance and writing proficiency through assessing a portion of your written reports to ensure you are writing up to regulatory standards. This then feeds into your bonus/promotions.

Depending on the firm you might spend time cashflow modelling for clients too and joining meetings. You may also be responsible for allocating funds into portfolios/tax wrappers once client money comes in.

All in all, it can be quite engaging and challenging to build a comprehensive financial plan for clients, especially as no two clients are the same. Whether it's less or more prestigious/respectable than the monkey work IB analysts do, I can't say. For smaller shops and lower net-worth FAs, it definitely does approach glorified customer service.