Breaking out of consulting into PWM
I wanted to ask about breaking out of management consulting in the financial services industry, and transitioning into a private wealth management/private banking role.
Generally on my background:
*Consulting sales experience
*Solid network of HNW individuals
*Speaks Mandarin and German
*No Series 7
*Great people skills
I've really loved working in the financial services industry, but have never provided investment advice, although have worked directly on sales and client campaigning at the MC firm (big 4). Strong personal network of HNW individuals and some UHNW individuals.
I'm very passionate and serious about making this happen, but so far cold applications have not been working, and I don't know anyone close enough in my network who works in the industry.
Would definitely take an entry-level position and work my way up (although btw what would the salary range look like?), and thinking that applying to small shops that might need fresh blood with a list of potential clients to come in.
What do you guys think? How should I work this and break into PWM/PB?
Any advice at all would be great and so much appreciated!!