As the title suggests, I am looking for any ideas on breaking into institutional sales from PWM. Currently I am an analyst on one of the largest PWM teams in Chicago, but S&T is where I want to be. I'm open to any product really just want a foot in the door to S&T. I've been pounding the pavement trying to network into a role somewhere, but I'd love any advice on ways to get in. For what it's worth I'm a regional non target business undergrad so alumni network is virtually useless. I'm also open to relocation.
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I did it. Just need to keep being persistent, networking, shadow different desks. I would really focus on and internal move. Would your current team support/help you?
I'm looking to approach that conversation with the team soon. I don't see why they wouldn't but in the meantime I'm continuing to search on my own. I'm considered an MSF as well although I would prefer to make the switch without going to grad school. Glad to hear someone else has made the move.
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looking to do the reverse, may I ask why you're looking to transition?
I've always been interested in S&T, I just didn't realize that was the path I wanted until the end of college. If you're not in advisory/prospecting role there is very little upside. However, I think with the average age of advisors being in the ballpark of early 40's to 50's any young person with a large network can come in and crush. It's not a bad space to be if your goal is to build a large AUM practice. Great hours and comp for the top producers. I just don't see myself going down that path. Coming from S&T you should have a strong chance at joining a PWM/PB team. I've been in both areas PWM & PB, and although they aren't extremely different I'm happy to share any insights that might help.
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PWM -> Institutional Sales (Originally Posted: 12/28/2012)
What do you think about this? Possible? Do you know anyone who has done/tried this before? Theoretically, this is what all insiders give as an exit option when I ask them.
Or even more generally, PWM -> ??? What would be next for a PWM Associate at a BB? Thoughts? Stories?..
MBA '13 from a top10 US school; position in Europe- for what it's worth.
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I am curious to hear about this as well. I'm a first year analyst in private banking at a BB in dt Chicago and wold be interested in hearing if anyone has an experience of moving to something else after working in pwm/pb
if you're in PWM at analyst level, I think your best shot is an MBA; then you can leverage your PWM background in Asset Management, ER recruiting. Even IB if you're in the right program.
Or depending on what kind of PWM you're doing, you might even have a shot at HF's, and other money managers (Laz, PIMCO, Carlyle etc.) who have some certain amount of focus at UNHWI, family offices, endowments etc.
But the former sounds like a better, sounders shot. my 2 cents.
now back to the BB PWM MBA Associate question...
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