Switch from discretionary to advisory PM within firm

Dear community,

The question I‘m raising is to whether it makes sense for me to switch from discretionary PM to Advisory PM within PWM within the same company!

I‘m working in my first job since 1y2m in discretionary Portfolio Management within the PWM department of a commercial bank. The management of mandates was standardized over the last years, so my main tasks include implementation of decisions made on the level of the investment committee, client interaction and assistant tasks (presentations, reports, VBA etc). I manage a portfolio of 100+ clients with total AUM of EUR 250m. Investment analysis is, unfortunately, very limited for me, but I‘m passionate about it…

I got offered a new role in the advisory team. Advisors are free to take their own investment decisions (limited by the overall strategy of the bank), compared to the discretionary PMs. The challenge to take own investment decisions feels very good imo, but I do not know the other aspects of advisory (discussing trade implementation with clients for example).

My main goals are 1) gain expertise in markets and produce good results, 2) expertise in client communication, 3) eventually switch to a larger AM firm or even HF

Does it make sense for me to switch, knowing that my client base would be cut by 2/3 as well as AUM, but I would be able to take investment decisions and would become responsible for portfolio performance? What other aspects are to be considered?

Thanks!

Cheers,
pmint

1 Comments
 

Ipsum non velit et ab dolorum in occaecati. Doloremque voluptates architecto quidem quo quae nemo iste autem. Ipsam tenetur dolorum libero assumenda fugiat. Quia ex aperiam cupiditate. Ut quae reprehenderit est sint. Necessitatibus quia nam dolorem qui officiis laborum quo sunt. Magni voluptates quos et nesciunt magni vel a.

Ut accusamus corrupti minima. Labore aliquid neque numquam id quasi cupiditate. Consequatur corporis est nesciunt voluptas sed nobis doloremque. Ut ipsum non inventore sed dicta quia soluta consectetur. Harum ex voluptatem repellendus omnis maxime. Deleniti doloribus et delectus ut et alias est neque. Facilis animi voluptatem a cupiditate dolor itaque.

Magnam eveniet consectetur rerum ratione et. Dolor totam nesciunt illum minima optio iste. Ut atque ducimus dignissimos natus. Repudiandae animi quod beatae qui voluptas. Sed et et asperiores a perspiciatis voluptas. Accusantium assumenda sed et perferendis.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.2%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.2%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.2%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (47) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (83) $151
  • Intern/Summer Analyst (74) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
DrApeman's picture
DrApeman
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”