I want to get into AM, particularly alternative assets, Level 2 CAIA now, and will get my charter in April. I have an opportunity to start as a financial advisor at MS. I also have the opportunity to do a finance rotation program at Capital One. I'm lacking finance experience, so I was curious what would help me break into AM better?
Trending Content - Wealth Management
Career Resources
Do the Capital One rotation. Financial Advising is a sales job. You are going to be cold calling and stuffing people into MS products. Asset Management is a totally different animal. Personally, I think your career would be better off working for Cap One right now.
FA is almost IBD, more hours more money. If you're up for AM go for the Cap One
I'm curious what you mean by FA is almost IBD, more hours more money. I'm guessing FA is really looked down upon universally. How did you break in AM Sarah? I'm curious where most people start.
She is joking. FA is a total different skill set from IBD. FA is a sales job where you need to know highlights of the financial market. You are selling proprietary funds and getting a commission. You can make a lot of money, but you pretty much starve for the first 5 years until you build your book. More sophisticated FA's get a CFP and build a portfolio for their clients, but this isn't what you are doing in the beginning.
IBD is nothing like FA.
Is he just stupid or over-serious?
Stupid apparently, just curious how most people start/ break into AM
Don't knock the FA's! A friend of mine started as a FA at Ed Jones. He left after two years, became an independent FA, and now his firm is approaching 1bil under management. The guy is young, has an obscene amount of money, and works 40 hours a week. I would give up on IB in a second if I could swap places with him.
That being said, many FA's are just glorified salesmen.
You can absolutely make a lot of money being an FA. I would say that he is the exception rather than the case though.
Voluptates et temporibus doloribus illum inventore quis. Ut est minus nihil totam quo rerum neque. Eaque eos consequatur dolor ipsa non. Neque suscipit recusandae autem rem dolorem eum et.
Deserunt ad deleniti temporibus blanditiis placeat quas. Possimus earum earum maiores repudiandae. Asperiores et ea porro asperiores quis excepturi ut aspernatur. Officia ipsum enim maxime quidem.
Veniam consequuntur ut accusamus placeat non numquam. Velit consequuntur sunt sit quibusdam ut quaerat. Aut qui illum maxime cum inventore amet qui. Nesciunt neque non id.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...