I'm at a bit of a crossroads in my career. I'm still at Fidelity as an FA, I turned down a job at State Street that was irrelevant to my higher aspirations, but now I'm not sure on what to do.
I want to work in Asset Management and be more hands on with the funds of these AM companies. Being an FA is fine, but I want more of a portfolio management position. I don't have my CFA though and most of the portfolio management positions at AM firms in Boston require that.
What I do have is my Series 7 and 66, but that's not saying much. What are some positions I should be looking for at AM firms that would eventually lead to a portfolio manager position opportunity?
So the easiest job for a FA to get at an asset management firm is a wholesaler. The bad news is that you then basically need to fight your way from one end of the shop to the other to get where you want to be. Two internal wholesalers actually took pay cuts to join our investment team doing grunt work, and one of them had his charter. This was at a larger firm, by the way.
If anything, I'd suggest that you do the wholesaler thing to get in the door, but try to do it at the smallest firm that you are confident isn't about to fold. Small firms always have more work than people, and you can likely throw yourself into doing items more similar to what you want to do. You won't be paid for it at the start, but if you prove yourself adept, they are likely to give you more similar work.
I'm in Boston, do you know of any good AM's to look into for wholesaler positions? I can research it myself, but figured I'd ask at least.
CFA
Well, Yes, The OP would be in better shape if he had his Charter. Today he is a minimum of 2.5 years away from that, and that time frame involves LVL 1 in December and LVL 2 next June, which is pretty much impossible. A more accurate time frame would be 4-5 years to get it. I offered an alternative.
that just seems crazy.
I really hope you're joking... the CFA is no joke
Yeah the CFA is a different breed compared to those tests. I have my 7 and 66 and while those took a little bit of studying the CFA isn't to be taken lightly. I've already taken a few Level I mock exams and I can tell I'm in for a long road.
The Series 7 will look like a piece of cake compared to the CFA.
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