Army Officer Breaking Into PWM in early 40's possible?
I wanted to set a realistic expectation on the chance of breaking into PWM after retirement (20 years of service). Here is some information about myself.
Age at retirement: 41-43 (3 years left with an option to extend for 3 more if my options post army are not favorable)
Education: MBA from Semi/semi-non-target school in South Florida (2022). PWM firms recruit from the school for positions within Miami (target market). Focused on finance/WM coursework.
Experience: 14 years leading special operation teams in combat and throughout embassies in South America and the Caribbean. 3 years as a Health Care Administration Officer, I know, complete 180. Fluent in Portuguese-Brazil (Native Language) and Spanish.
Preferably looking to break into PWM within a Latin American Team. I am passionate about the industry and understand that starting as an associate several years removed from my MBA would be difficult. Would be willing to take an analyst role if he gets me in the door, willing to grind and work my way up. I am currently in South Florida, and several banks have PWM Latin American teams nearby.
Aside from the likelihood of breaking in and networking, what can I do to prepare myself? Which licences should target that do not require experience? I am researching possibilities to do some form of professional shadowing or some form of internship (I value experience over payment right now and would work/intern unpaid)
Breaking into PWM in your early 40s after a military career is absolutely possible, especially with your unique background and skill set. Based on the most helpful WSO content, here’s what you need to know and do:
1. Leverage Your Unique Background
2. Networking
3. Licenses to Target
4. Gain Relevant Experience
5. Preparation
6. Realistic Expectations
By focusing on networking, obtaining relevant licenses, and gaining experience, you can position yourself as a strong candidate for PWM roles, particularly within Latin American teams. Your unique background and skills are assets that can set you apart in this relationship-driven industry.
Sources: How PWM really works (part 2): Breaking In, Staying In, and Getting Out, Financial Adviser to Boutique IB, GS Private Wealth Management post MBA, Finance Career Path & List
What is your MOS? What army schools did you attend?
I was a prior Psyop Det SGT. Now I am a medical services officer (Green to Gold). School, a bunch of the SOF schools, sere, airborne, jumpmaster, etc..
it scares me that a 40 yr old is saying he is willing to take an unpaid internship. this job market is way more cooked than previously suggested. but anyways, goodluck and thank you for your service.
Well, it would not be a full-time internship. Something that I can work a day or two a week to build some experience and exposure.
Goldman Sachs has a program called Veteran Intergration Program. I heard once you get accepted the offer rate is basially 100 percent. In the mean time, you should study and take the SIE. You seem like a pretty smart guy so shouldnt take you too long to pass. You can also take the series 63 but that might not be necessary.
I'm not sure if you can recruit for analyst roles since you have the MBA but you should be fine.
Good luck and thank you for your service. Hope you get a good disability rating.
Thank you, that is great input. I have a friend from my MBA (also a vet) that did the VIP program and currently works for GS. I do plan on applying to the program; however, I did want to leave the door open and was also interested in J.P Private Bank. From what I have read I like their structure and team focused approach. I have been studying for the SIE and passed the pretests with 90-95%. I also plan on taking the 63 series because, why not? Anything that demonstrates my interest and eagerness for the industry should be helpful.
I initially planned on leaving the army and starting my MBA in 2020 to compete for associate roles in PWM/PB. Had a series of unfortunate life events, and covid, resulted in staying in the army, but was offered an opportunity to pursue my MBA full-time while receiving full pay.
What MOS you have?
I used to be a 37F Psychological Operations and a Detachment SGT deployed to combat zones and embassies throughout South America. I commissioned after my MBA program and now work in the medical field (administration) 70B. I am currently the executive officer of a program that trains army medical teams in a civilian hospital prior to deployment.
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