Asset Management Rotation: Business Development or Portfolio Management?
Hi all.
For my upcoming AM stint, the program is rotational across these two teams for one year each, though if I decide I like one line of work more than the other I can skip the other rotation.
Could someone comment what business development entails in the AM world? I would like to pivot into trading so I reckon I should start off under the portfolio management team and stick to that.
On the other hand, I've been told business development for institutional solutions could be a great way to pivot into the VC (probably a stretch) or a tech company in general.
Hi Analyst 1 in AM - Equities, check out these resources:
More suggestions...
Fingers crossed that one of those helps you.
Business development is a sales role. Figure out what products/strategies you are responsible for, your coverage area, target client bases and then go find new business. It's prospecting, conferences, cold calls, cross selling from other business lines (hopefully - warm leads are the best). Eat what you kill.
Depending on the firm, that could be direct to asset owners or plan sponsors - could be through intermediaries where you are selling through other RIA's or consultants. But at the end of the day, it's just sales. Sometimes they are called relationship managers, and there's a client service component - i.e. your primary role is bringing in business, but you also service a few high value or high touch clients.
As far as exit opportunities, if you are successful and enjoy it they are virtually endless - everyone wants sales people, and if you build up a book of institutional relationships that's worth it's weight in gold.
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