Want to get into wealth management
Good evening monkeys, I am currently working in the billing office of a well-known law firm in NYC, I am a recent graduate. I thought I wanted to go the law school route but have changed my mind after gaining law firm experience. I have been working at the firm for 3 months and looking to change jobs in 3-6 months. I have always been interesting in wealth management and had internship at an IB. Any advice on the wealth management part of the industry? Or how to break in? Thanks!!
I know quite a few guys in WM, some quite senior.
It's generally seen as something that just happens to you. Not something you "get into" or "break into".
Talk to any of them and look at their background, it's something that just happened naturally. As in, having high net worth friends eager to find a wealth manager.
And having a passion for the markets.
I had a different experience than above. Came out of school and went directly to one of the big WM firms (Merrill, Morgan, UBS types). I was there for a year and actually despised it. I am not someone who backs away from a challenge, I love going out and entertaining and being that I was paired with a senior adviser who had a large book, I was lucky. But in the end it comes down to can you bring in the assets. Being that you just got out of school and that most of these firms have 250k minimums, its not easy to have a 50-60 year old trust a 23-25 year old with their life savings. If you want to break in a lot of these firms post on their job sites "Career Nights" where they let people interested in the career path come in and speak to management. They are always looking and they take every background possible. During interviews they essentially want you to talk about all the rich people you know and how you plan on making them clients. Along with that avenue they expect cold calling literately 8 hours a days. I dont mean to dump on WM but thats honestly the reality of it. If you can get paired with a senior adviser that would help a lot. Feel free to PM me with any questions. Best of luck
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