Career as a Financial Analyst vs. Financial Advisor

Can you elaborate on the financial analyst position at the consulting firm?

analyst all day. pro: more opportunities/career paths

It's a junior analyst position that is part of the companies finance team. Putting together finacial reports and giving presenstations to senior management team etc.

A couple of my friends work in BB PWM at the junior level -- from what they say, FAs don't get too much respect in the finance world except for the few at the top who pull in pretty big money.

They said there's a significant discrepancy between FA and PWM in terms of the level of talent (PWM being much higher). I haven't worked in wealth management at all to know so I'm just reporting what I've heard from them.

I guess another thing to consider is that the finance team won't be client facing at all (though you'll likely have significant exposure to upper management). On the other hand, you won't have to cold call...so I'd say go with the analyst position. Good luck in your decision

disclosure: I work on the finance team at a fin services firm

I do the same as you and my team has pretty much the same AUM. The FA's are well respected on my company and have it pretty easy (don't come in on fridays, come in at 10, leave at 3) but still work hard. If you have the ability to take over their book while adding your own clients you'd be pretty set. How long have you been at your current role? Whats your salary and do you get a percentage of the book?

I myself do not like pwm/retail and am trying to move to an institutional sales role

Can I ask how many years you are out of undergrad? I'm just curious.

@seville~ I graduated undergrad last year...@Bobb That sounds like the FAs here...I am still working on my series exam and working on bringing new clients. It has been mentioned that there might be a possibility for me to take over their small accounts but nothing has been finalized yet. I started last August. Making only $40k, no percentage of the book, but I get a lot of bonuses and great benefits. I don't live in NY so it's great considering my cost of living. How much fo you make?

I'm really interested in being a portfolio manager for a mutual fund but figure I have to get a few more years under my belt before that happens.

The analyst role is just an option i'm exploring right now.

if you want to be a PM at a mutual fund, neither position will help you much lol. Banking and research the key there. if your job in wealth management is pretty cushy, see if they will pay for you to take your cfa, and then try to hope over to an analyst position in either ER or at a buyside firm. That will greatly help your chances to eventually become a PM.

Those income figures don't include many expenses you have to pay out right?

Most people who get suckered into financial advisor positions are mostly insurance salesman, and quit shortly after.

financial analyst or financial advisor? it's sort of like asking if you should be a taxidermist or a taxi driver. sure they sound similar in title, but the jobs couldn't be more different...

the analyst position will give you more stable employment, and you could potentially make a significant impact on the strategic direction of a large corporation. on the downside... you will probably be putting in more and more hours as you move into more senior positions.

the financial advisor role will give you an opportuntiy to make an impact on the lives of individuals... this will require a lot of schmoosing and sales skills (more so than the analyst position, which will require only modest "soft skills"). when you're starting your career, there will be a lot of pressure for you to bring in business, which i'm guessing will make the role more stressful than that of an analyst. the good news is, once you build a large enough book of business, your job gets easier. you can do a 9-5 thing plus the occasional networking event and dinners with clients (which should be fun anyways). this role also has a much higher upside in terms of compensation.

those are the pros and cons... but ultimately the decision should be based on what you enjoy doing, because these are two very different roles which will require two different lifestyles and skillsets.

Two questions.

1 does your team have high AUM? 2 are the rest of the team members old fucks that are about to retire?

If you answered yes to both I'd say go with PWM if your firm has team carry over. If they don't well then it's up to you.

I'm in complete agreement with a lot of the information in the following paragraphs. You certainly are a special article writer have real profit put your own views directly into apparent phrases. Anyone will be able to understand why.

Hello, I'm a newbie to finance in general, but I have made some initial strides to get some exposure. I started as an analyst with Finance IT for an MNC, and now I'm prepping for my CFA. I've applied to a few MSF programs.I wanted to eventually work as a financial analyst doing all the things described above, but in a consulting firm setting. Is that a viable career path for an MSF grad, or is that line only open to chartered accountants or MBAs? Ideally, I'm looking at an analyst position in the financial advisory services of a consulting firm (maybe at one the Big 4 someday).. but i'm confused about the roles that are open to an MSF in these firms. Can somebody please advise me on this? Any feedback is appreciated!