Currently work at a distressed debt fund (small family office) in the Midwest. The firm has significant cash flow problems and I do not see a long term future here. The firm has a decent reputation, however I must stay in My state long term for personal reasons and there are no other opportunities in the same strategy here. If I could go to NY I would be set, but I cannot.
I recently received the CFA charter and want to use this time as an opportunity to change career paths. The most prevalent opportunities appear to be in private banking, and I believe I can be successful in this area of finance.
After additional research, I am most interested in the investor role. With my current comp at ~145k, I am looking at the associate role.
I have 5 years experience as an associate acquiring distressed companies and assets, so while my experience is in a different area, I do not think I would be entry level.
I am hoping someone can help me answer the following:
1) will it be a huge challenge to go from my current buy-side role to an associate role in private banking?
2) is there any appeal to my specific background for a private baking role? What role would that be?
3) how stringent are firms regarding the series exam licensing, particularly for the associate role? Do I need them before applying?
4) am I correct to shoot for the associate investor role? Or is my only way in the analyst path?
5) with my unique background, is applying through the website The way to go? Or should I go the informational interview route? If I focus on networking, who should I try to meet up with? Analysts? Associates? VPs?
6) how common is a non-traditional background in the associate role?
Thanks. Any advice is truly appreciated.
Anyone??
It seems like you would be a good fit. A lot of it will depend on whether or not you can get the right person to get your foot in the door. CFA and experience in a family office is good. I'd start networking my way into an interview.
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