intro and potential career switch

Hi All,

First off, this site has a ton of great info on it. I would like to get some feedback from people already in finance on my situation.

Currently, I work for a financial and estate planning firm in the NY area. Most of the focus is on insurance, investments, legal planning, retirement and business planning, etc. and I am thinking of making a career change. Most of my duties currently are focused around client acquisition in the high net worth space. I review clients current financial situation, review it with a team of professionals and make recommendations to the client. Then I monitor and review periodically with the clients.

I have been in my current field going on 5 years and am open to changing but do not know where to start. I have my bachelors degree in business management with a finance concentration from a state school and got decent grades (3.5 overall GPA). My question would be which field in finance would I be able to transition in to based on my background and work experience? Where would I be a good fit and be able to use some of the talents and skills I have developed and get paid well for it? I enjoy what I do now but there are a lot of things that I can choose as a career path. Any help, direction or guidance would be greatly appreciated.


Comments (5)

Best Response
Jan 22, 2013 - 9:38pm
FFG103, what's your opinion? Comment below:
ct banker:
Thank you for the feedback. There certainly is some overlap in PWM and PB with what I am doing right now. Would you mind elaborating on how an MBA would be beneficial? Also, how would having an MBA help me break into PWM or PB?

In addition, with respect to the MBA route, what would I look for in a program and what school(s) should I go after and why.

Thanks again!

Jan 22, 2013 - 10:25pm
ct banker, what's your opinion? Comment below:

Yea so I think the biggest thing would be to re-brand yourself this is considering you can kill the GMAT and get into a top 15 MBA program. Biggest thing is you would be able to utilize OCR and Alumni to help you land a job afterwards. If you have the money and affordability to take 2 years off of work and get an MBA I think it would open up doors for you. The idea is that potentially you could break into a BB bank being a wealth advisor. They also have teams that work behind the scenes during estate planning and the works. After looking at your experience have you thought about opening up your own Investment Advisor shop? This could always be an option for you as well, with 100MM AUM you can pull in 200-300K a year while working for yourself.

This is my 2C, I am still in college so take it for what it is worth.

Jan 27, 2013 - 8:52pm
FFG103, what's your opinion? Comment below:

Behind the scene Estate and Tax Planning is something I am familiar with. And, as a side note, if you are an Investment Advisor with 100mm in AUM you are pulling in MUCH more than 200-300k per year...If I had that much in AUM I would be spending less time on this site and more time working that book of business!

More importantly, to take off for 2 years and go for an MBA would not be possible at this point in my life (wife, family responsibilities, etc.). I could do a p/t MBA program but I was looking for advice on an industry I could transition into in the near future (I am open minded to anything in finance with opportunity to grow and progress in the profession). Anyone with thoughts?

Apr 4, 2014 - 10:59am
James-HSTC, what's your opinion? Comment below:

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