Looking for advice: Operations vs Client Service
Hi,
I currently am working in a back office Ops role and a position just opened up in Client Service. I am contemplating if I should apply or not. Positions don't open up very often at my firm and I feel like this is a good opportunity. I enjoy my current role and it is very easy to get comfortable which is what I'm nervous about. Client Service has sent 4-5 people to the desk in the past so it seems like this type of role would create more opportunities in the future. I am currently studying for the CFA as well. Since Ops works less hours I am considering staying in Ops until I finish my CFA but at the same time I don't know if I should let this opportunity go.
Any advice would be greatly appreciated.
What's the client service position? Is it a support role? If so, you might be going out of the frying pan and into the fire.
It's a lot of client reporting, client reviews, and researching client inquiries type of stuff. Also get to work with Sales and Portfolio Managers to make prospect presentations. From what I've heard is you work on a lot of presentations for the PM's so you build strong relationships with them.
What makes you think this is worse?
I didn't know what it entailed. Client services can be answering the phones and updating calendars (i.e. a glorified admin). Sounds like it could be a good move for you to advance in the company and get over into the investing side of things. Good luck!
Absolutely go for the client servicing job. The more time you spend in the back office the more difficult it becomes to get out. Anything that will give you more visibility from the front office is a no-brainer,... you'll be talking with PM's and traders every day. Build relationships with them and use that to leverage a front office role once you complete the CFA
Agree with DBW, it sounds like the client service role would be better, at least how you've described it.
Some client services jobs end up being just answering phones from small existing clients and dealing with trivial client requests. Those types of roles can be dead end jobs as well. What you've described sounds higher level though and could evolve into a more important role.
What does client reporting involve?
Really monotonous stuff i.e. putting together client portfolio data, performance data, etc. Not exactly a great role long term.
our assistants are called client service, this will depend on the team. couple questions:
I ask all of this because I've seen too many times where PWM brokers will look for bright young men and women, sell them on a CSR job with things like what you're talking about, and the kid is massively disappointed. it's a lot more phone answering, client requests, things like that versus analyzing investments, reporting, etc., the "sexy" stuff.
don't get me wrong, it's a great job and if you work for a good team, you will learn a lot, have decent opportunities for growth, but make no mistake about it, it's another operations job. the thing is, CSRs first job is operations, then if their brokers want to give them more meaningful work, they can, but for every broker I've seen do that (give CSRs meaningful work), I've seen another dozen that just pass off the shit they don't want to do and have the CSR answer the phone.
all I'm saying is dig a little deeper and go into this eyes wide open, it's a good gig, but don't think you're going to be a research analyst or anything like that. I'd also be shocked if a good broker put you in front of a client to make a presentation with your background
Hi @thebrofessor, your 4-part post on PWM got me interested in this area of finance.
I have an interview coming up real soon for a Client Service Associate (Analyst) position at an RIA in LA. Reading this post, I noticed that at the RIA the "administrative tasks" is listed in a different position in Operations. For the CSA the job description says that the CSA/Analyst provides technical support to Client Advisors by data gathering, case design, scenario building, investment analysis, plan presentation, and potentially participating in client meetings. Do you think that there is a strong likelihood that I end up just doing administrative tasks?
Also, looking on LinkedIn for jobs, I'm interested in eventually moving to a Investment Associate type positions at Citi PB, JPM PB, etc. dealing more with the investment/markets side of PWM/PB. Looking on LinkedIn at profiles of people who are Investment Associates started out as CSA's. Is there a certain time frame to changing positions before getting pigeon holed as a career CSA or something? Is it more difficult to make the change from a smaller RIA to the PB/PWM arm of a BB?
Thanks in advance!
Edit: small RIA as in relatively new with a small staff of, as far as I can tell, successful industry vets. Their AUM seems to be rapidly increasing as they add more advisors.
This original post is so old, but I too would like to hear the answer to this from thebrofessor
for the record, 1 year is not old, you can absolutely rely on info that recent. where it gets tricky is if you're talking pre-financial crisis or post financial crisis.
anyway, what's your question?
Qui ad sint quis hic. Omnis aperiam ut consequatur. A tenetur provident quae et. Id error et consectetur quia aliquid. Et delectus autem omnis.
Quod voluptatibus quas vitae nihil aliquam. Aut nesciunt dolorum eligendi impedit qui id. Tenetur delectus eos nihil quo. Tempora deleniti animi consectetur quia deleniti enim qui. Iure esse perferendis provident enim perspiciatis. Aut rem consequuntur qui quos itaque qui. Maxime nam ipsa totam illum debitis inventore.
Minus odit eos vel rem repudiandae. Blanditiis qui provident nemo quia in sapiente ut ipsa. Quia cumque nobis atque sint inventore harum vel. Consequatur mollitia nihil similique eos distinctio sint officiis et. At facere temporibus est molestiae non fuga. Illo dolore dolorem nostrum dolores quo.
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...