RIA to IB/PE
Hello,
New member - first post looking for advice.
About me: I graduated UConn Business with a degree in Finance and worked four years in sales in the insurance industry. Transitioned to working for a web based startup and now work at a Tampa RIA with $300M+ AUM and growing. I'm being trained as an analyst by our CFA but the analyst experience is limited to income planning and other PWM functions. Limited equity research, but some involvement there. There is the option to become an advisor - but that's a last resort at this point as IB/PE is really where I'd like to transition.
I'm really interested in making a transition to Raymond James IB in St. Pete with the intention of exiting to buy side PE at a comparable shop (RJ is predominantly MM and transitions to buy side firms with similar deal size are possible from what I've heard if you are smart, work your ass off, and creative).
I'm looking for any advice you can give me on whether or not it is better to stay with the RIA long term or try to transition to Ray Jay with the above intentions.
The owner here is likely a little over a decade from retirement and I'm not sure what type of succession plan is in place. The other thought is if I stay here and learn what it takes to build and manage a successful RIA in and out, I can start my own and/or acquire businesses down the road. Owner makes north of $1MM a year so financially it's possible to do quite well over time.
The last piece - I've read PE is getting into the RIA field now and buying up firms. Any insight into taking the route of transitioning to the PE buy side after working my way up at my current firm if this trend continues? I know a last resort/final exit strategy is to move into buy side later in your career after gaining much industry specific experience. It sounds like RIA is an emerging market for PE funds. Thoughts?
Appreciate any insights and advice.
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