Do I have a future in PWM?
Before I start, I know that most everyone looks down onit as a dead end in the finance world (that may be true). But what if that dead end isn't so bad?
Currently I intern at a very small independent RIA (a little less than 100 AUM) in the midwest. They've been in business for less than a year, but business is growing fast, we expect to hit 150 AUM by next year. It is entirely fee based, no one is pushing products onto people and we mostly deal with retirees who need financial planning more than anything else.
My job is back end office stuff currently, but I've expressed desire to take the, and whatever other exams needed to be a financial advisor. And they were very encouraging, it seems as though they want to invest in me and keep me on the team after I graduate. I felt very fortunate to get this internship as I started applying very late (april). And the fact that they're not trying to get me to pedal insurance to family members or expect me to bring my own business to the firm. Everyone is on a salary (though I don't know how much) and seems to live decently.
I guess what I'm asking is how much room for growth for me is there with a firm like this? I don't expect to make half a million dollar bonuses. But I would like to make enough to live comfortably and hopefullyeventually. Is that likely? The work-life balance is really nice, and I find that much more appealing than the high-speed jobs in IB. I major in finance, don't go to anything close to target school, and my GPA is pretty average (3.5). Should I pursue this opportunity further? Or am I better off looking for something else? (not sure what else is out there for someone with my education)
TLDR: I work at a very small RIA that's growing fast, potentially have a future job there (salary-based). It's a very comfy 9-5 and I like it, no selling shit to family members. What can I expect my future to look like, both position-wise and income-wise and is this a good gig for me? If not, where else should I look?
Thanks for reading, any and all advice is welcome.