Hi,
I am a recent college graduate with a degree in finance. I have obtained my Life Insurance Licence along with Series 7 and 63. I am currently with an insurance company and their bread and butter is life insurance. It is a great product don't get me wrong, but I just do not see myself continuing on with this career. I am looking to change jobs I would like to go into asset management/portfolio management position, but I feel that I may not qualify for some of the positions out there due to my lack of experience and coming from a State University not a top Ivy League. Are there any types of positions/jobs out there that I should be looking for specifically to pursue a career in asset management/portfolio management? In a situation like mine what would be a good career path?
Thank You.
peter,
I'm a long way from being in your position, but I've been there (however, I was much older). I had my 6, 7, 63 and 65 along w/my insurance license and the first 2 modules of the CFP. Got those after being hired to be a Financial Advisor. Position sounded great, thought I'd learn a lot about portfolio management, securities analysis, risk analysis, etc.
What I learned is that I was hired to go out and be a salesman. Basically, you could be a babbling idiot, but if you had a knack for bringing in new clients, you would be successful. Opposite end of the spectrum, you could work your ever-loving ass off, do everything they ask of you, bend over backwards to make them happy, but if you can't bring in assets, you're a liability.
If you really are serious about asset mgmt/portfolio mgmt, etc., you will not learn it where you are now. And if someone tells you to go out and get your 65 or 66 so that you can become a FA, run, do not walk, RUN in the other direction. The type of job you are in search of does not exist without additional education, unfortunately. Others on here w/experience in the IB, PE, HF, AM industries can probably tell you what you need to do to be successful on that career path, but sorry to say, you currently are not on any of those paths.
I honestly wish you the best of luck. Selling insurance is a tough row to hoe. Certainly understand why you're looking for something else. Good luck.
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