Please Help Me Decide - Stay at my current job or take another route?
Thanks for reading. Your opinion on my situation is much-appreciated.
Context: I am in my mid-late twenties, and my ultimate goal is to start an investment company. I am not sure what kind yet, but I am thinking either something structured like Berkshire where I can buy stocks and other companies, or something like a hedge fund. Idk yet. I just know that I want to do something that is purely capital appreciation in the future. I think/know that I will enjoy it better than my current role because it is potentially more lucrative and also seems to be more exciting/challenging. I love risk and challenges and I love trying to make money.
Situation: I am currently an associate financial advisor at a financial advisory/wealth management firm with 2 financial advisors/private wealth managers (we use both terms interchangeably), each managing about $250 mill for a total of about $500 mill AUM. They are business partners. My undergrad is not in finance, however for a while now I have had a strong interest in investing. I took this job as a way of breaking into finance. My plan was to do this for a year or two and then apply foror attempt in order to cross over higher finance - into a part of finance that I think will be more relevant to my goal of starting an investment company.
So far I have learnt a lot about finance by working here. I have passed the, attended several wholesaler meetings, I have access to several investment research tools, so this has been great for a non-finance major so far. But financial advising is a lot more than just investing; we deal with setting up IRAs, 403(b)s, Annuities, life insurance, and different other things that are not relevant to my goal of becoming a better investor so that I can have a chance at running an investment company. In fact, I do way more of these administrative things than investment-related things, so I always knew I needed to find a better role. I never did worry about bringing in clients because I planned to leave shortly. The partners are aware of my long-term goal, and they are aware of my intention for my employment with them to be short-term.
Dilemma: One of the partner wants to retire soon. Both partners like me and think I am competent, so they asked if I would be interested in the retiring partner transitioning his practice to me. The company will finance the buyout of the practice, and I will be making around $700k per year. Aware that my intention is to start an investment practice in the future, both partners think financial advising/wealth management can be a good route to my destination. Their rationale is that (1) I will be learning more about finance and investing as I become more responsible for managing client portfolios, and (2) I will start earning close to a million per year around age 30 (the transition will take about 3-4 years) which will help me accumulate assets fast and put me in a good spot to start an investment company later on in life.
That said, buying the practice would mean I would have to commit to the financial advisory/wealth management role for about 10 years at least because I will have to payback the loan I get to buy the practice. I will also have to make detours such as study for the CFP instead of CFA which is more focused on investing, and I will have to deal with retirement-related things I don't really care for such as: social security rules, retirement account rules, annuities, life insurance, etc. (left to me, I just want to be an investor! I want pure capital appreciation).
I know this is not a bad spot to be in, but I really do need some advice. Should I quit this job as planned and try to enter a part of finance is more focused on capital appreciation in pursuit of my goal to start an investment company? Or should I stay where I am, take this good opportunity to buy an established practice and startaround age 30? (If I take this deal, I will try my best in addition to being a financial advisor/wealth manager to learn as much about capital appreciation as I can. Maybe even attempt the CFA after the CFP. Another advantage to this route is that I will already have some existing clients that I can ask to be investors in the in the future investment company if they believe in my vision/ability to make them money).
I am so confused and this is such a huge weight on my shoulders. Had the possibility of this deal not been offered to me, I would have been planning to move to another role next year. But now that it has been offered to me, it gives me something to think about. I don't want to feel as if I am selling out of goal, but I also don't want to shut the door on a great, lucrative opportunity without thinking it through.
Thanks for reading, and thanks for your suggestions. I will be happy to elaborate more and answer questions.