Hey guys,
Background: I've been in Asset Management for ~7 years now (worked my way up from junior generalist to analyst with sector coverage after obtaining the CFA Charter).
I wanted to see if anyone here has intimate knowledge of the investment Councillor career stream for Private High net Worth clients/Corporate Foundations/Charities? It's a largely asset allocation/relationship management type job I understand that affords you the opportunity to grow your 'book of business' with a guaranteed relatively generous base pay package (~100k).
NOTE: not looking for info on the traditional Advisor career (low base, higher proportion in bonus/equity, mostly sales/business development etc)
Thanks in advance.
Reach out to me if you'd like
Reach out to me if you'd like
What's your question?
Hi,
I'm curious as to what the failure rate is in the role (I'm guessing much lower VS traditional Investment Advisor/sales roles) since you are given a book of business to maintain AND develop additional sources of revenue?
Also what is a typical day like (is it a 9-5? 7-5:30? or do Investment Councillors make their own schedule?)
How would you rank Institutional sales (pitching strategies to pension funds etc) VS Investment Counsellors in terms of compensation and work-life balance?
What is a reasonable range (average) a newly minted investment counsellor would make in comissions and year end bonus (for the first 4-5years)
Thanks
look at threads by shorttheworld, he's in the industry you target. or reach out to him directly.
I'm in the traditional advisor role so all I'll say is that while the failure rate once you're in is most certainly lower than traditional advisor, the difficult part is breaking in. with traditional advisors, it's easy to break in, hard to stay in. with what you're talking about, it's hard to break in, easy to stay in, so it's just a different beast.
Thanks for your comments. I think you're right, there is no formal 'recruiting process' for these jobs and it is largely 'referrals' from senior people in the organization. That said, I will share any other valuable info I learn in this thread for future readers.
Cheers
disagree. my understanding is private bank recruiting (GS, JP Morgan Private Bank, US Trust, DB & CS) is structured like IB recruiting, which as you know is not easy to get into. it's probably no picnic post-MBA because the job is great and spots don't open up regularly.
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