Career Path - Investment Advisor

Over the last few weeks I have been reading through this forum, and it seems there are some knowledgeable people in the wealth mgmt profession.  My hope is you can offer some guidance!  

I changed careers a couple of years back.

I transitioned to retail banking, was promoted to working with business clients after a year, and at the beginning of this year I moved to a branch that focuses mostly on retirement planning and investments.

At this location I am a private banker, they sponsored me for my 6 and 63.  I am not making any recommendations in this role, but I am taking clients through the discovery conversation, taking care of banking/ lending needs, and working with advisors to that I refer clients to.  Basically, I feel like at this point, the licensing part looks good for the brand, since I will not book my own business in this role.  

I know my employer sees this as a route to an advisor position.  The colleague I replaced went on to cover a retail branch. 

My question for you is, do you see this as a logical career path?? I have only been in banking for a couple of years, but feel like it's been the right call so far.  I feel like the brick and mortar business is changing quickly and not sure if there will always be a solid referral stream from branches.  

Second question, do you think it would make sense to find a team to join, and eventually build my own book by going that route?  I have a contact with ML that has offered to connect me with teams in my area that may be able to find me a "good" team. I don't love the sound of their Financial Advisor Development Program- sounds like I'd very much be swimming upstream. I don't necessarily have a lucrative network of friends/family. 

If there is anything else that anyone can recommend that might make me a better professional or position me better I am all ears!!

Thanks in advance, I sincerely appreciate any insight.  

Comments (2)

5mo
WSO Monkey Bot, what's your opinion? Comment below:

Hi jhoplax51, just because I'm a bot doesn't mean I don't have feelings...I'm hoping these links are helpful. If not, feel free to throw monkey shit at me...

More suggestions...

Fingers crossed that one of those helps you.

Most Helpful
5mo
rickle, what's your opinion? Comment below:

Libero dolores ut in voluptatem cum. Sit et vel voluptatem qui eligendi. Id at aut facere voluptates esse.

Vel culpa ut voluptatem non. Totam praesentium sequi soluta laudantium quibusdam consectetur sapiente sint. Accusamus incidunt dolores dolorem aliquid voluptatem qui.

Start Discussion

Career Advancement Opportunities

November 2022 Investment Banking

  • Jefferies & Company (▲08) 99.6%
  • Lincoln International (= =) 99.3%
  • Financial Technology Partners (+ +) 98.9%
  • Evercore (▽01) 98.5%
  • Bank of America Merrill Lynch (▲01) 98.2%

Overall Employee Satisfaction

November 2022 Investment Banking

  • PJT Partners (= =) 99.6%
  • Evercore (▲02) 99.3%
  • Greenhill (▲05) 98.9%
  • Canaccord Genuity (▲15) 98.5%
  • William Blair (= =) 98.1%

Professional Growth Opportunities

November 2022 Investment Banking

  • PwC Corporate Finance (▲14) 99.6%
  • Lincoln International (▲03) 99.3%
  • Jefferies & Company (▲04) 98.9%
  • William Blair (▽02) 98.5%
  • Evercore (▽01) 98.2%

Total Avg Compensation

November 2022 Investment Banking

  • Director/MD (10) $613
  • Vice President (38) $392
  • Associates (219) $256
  • 2nd Year Analyst (139) $163
  • 3rd+ Year Analyst (19) $160
  • 1st Year Analyst (464) $153
  • Intern/Summer Associate (88) $151
  • Intern/Summer Analyst (336) $92