If you can get your CFA certification, or atleast be on that track it will make you alot more marketable for asset management. Now im not sure what bank or institution you work at,but both MS and ML have investment management divisions that would make it easier for you to get in to if you work in the wealth management division.
The move would be easier to an sell side institutional sales role or product specialist or account manager role (on the buy side) than an equity research role. Wealth Management is a sales job, plain and simple.
Getting a CFA could help but I wouldn't think that'd be the way in. You'd be a sales guy with a CFA - what makes you different than the 8 billion ops guys with CFAs who also want the job and also have no investing or research experience, right?
All depends on your role. If you work with complex instruments for hnw clients then the transaction is very easy. It becomes easier of you happen to work in the wm sector of a firm with instructional clients as well. If you are an FA who does sales and marketing and mostly outsources transactions, may be difficult
Wealth Mgmt to Asset MGMT (Originally Posted: 01/29/2018)
Hi all,
I'm very interested in knowing about the possibility of going to AM from a wealth mgmt role, like PMD at Merrill.
Any insights?? Is wealth mgmt a good place to start off??
What do you mean by AM? Are you referring to institutional investing, working at a fund, etc?
Generally speaking, PWM is a good place to start off. You'll gain some market knowledge, learn strong customer service/sales skills, and will have a work/life balance that would allow you to study and make a transition.
What would you think of doing in AM, as roles are rather diverse. I could see it being rather feasible to go from say, a support role to a support role, or Financial Advisor to wholesaler. To be honest, looking at my firm, I am not aware of anyone other than myself who has done so, and it was a long route from one highly specialized role to another. (and we're a big firm)
The only difference between Asset Management and Investment Research is assets.
I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
not great, but also not impossible. here's what I'd do, since I work in PWM and before my business took off I daydreamed about moving to Cali and working at PIMCO, Brandes, Oaktree, or TCW.
get your CFA, you don't have to finish it, but at least pass L2 and be working on L3 when you're recruiting
crush it at your current job. if you're a financial advisor, you need to leave that ASAP, that's a sales role (esp in the early years) and will not transfer well. whatever you're in, crush it, a turd on the resume will stink up anything else that's good
work on your investment prowess. join things like sumzero and value investors club, have your thesis torn apart and sharpen your skills. this will mean many nights and weekends refining this
take the GMAT, crush it (over 700 at least, preferably higher). this will make sense in a moment
network, network, network. meet with anyone who will listen, learn about their asset class, learn about their work, ask for help, you'll get told no a lot but you might get a hit with a boutique AM shop and it's a helluva lot easier getting into a big name from a small name in the same industry than it is to get into a big name from PWM
meet with ER analysts from your firm. don't go for the MD, but if you work at Merrill, you have access to their entire directory, use it. if I was in your shoes, I'd plan a couple trips to NYC if you're not there already (outside of earnings season), and say "hey I'm gonna be in the area and I've been reading your reports a lot, would love to pick your brain about X over coffee or lunch (probably coffee). can we visit for a bit at the office on 42nd st?
if all else fails, use that GMAT to recruit for a top MBA.
after you graduate b school, go into IB if you can't get an AM job (have heard anecdotally that it's hard to go straight from MBA to buyside if you weren't already buyside)
from there, try to lateral to buy side as if you were anyone else
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Your skills would be transferable to the sales side of an AM firm, not the investing side.
If you can get your CFA certification, or atleast be on that track it will make you alot more marketable for asset management. Now im not sure what bank or institution you work at,but both MS and ML have investment management divisions that would make it easier for you to get in to if you work in the wealth management division.
Not easy, but anything is possible. The jobs might seem related, but they are quite different.
Lateral move within a large firm would be the best option (as khaykin noted).
The move would be easier to an sell side institutional sales role or product specialist or account manager role (on the buy side) than an equity research role. Wealth Management is a sales job, plain and simple.
Getting a CFA could help but I wouldn't think that'd be the way in. You'd be a sales guy with a CFA - what makes you different than the 8 billion ops guys with CFAs who also want the job and also have no investing or research experience, right?
All depends on your role. If you work with complex instruments for hnw clients then the transaction is very easy. It becomes easier of you happen to work in the wm sector of a firm with instructional clients as well. If you are an FA who does sales and marketing and mostly outsources transactions, may be difficult
Wealth Mgmt to Asset MGMT (Originally Posted: 01/29/2018)
Hi all, I'm very interested in knowing about the possibility of going to AM from a wealth mgmt role, like PMD at Merrill. Any insights?? Is wealth mgmt a good place to start off??
What do you mean by AM? Are you referring to institutional investing, working at a fund, etc?
Generally speaking, PWM is a good place to start off. You'll gain some market knowledge, learn strong customer service/sales skills, and will have a work/life balance that would allow you to study and make a transition.
What would you think of doing in AM, as roles are rather diverse. I could see it being rather feasible to go from say, a support role to a support role, or Financial Advisor to wholesaler. To be honest, looking at my firm, I am not aware of anyone other than myself who has done so, and it was a long route from one highly specialized role to another. (and we're a big firm)
yeah it makes sense. So I'm very hesitant about taking a role which is completely outside AM
not great, but also not impossible. here's what I'd do, since I work in PWM and before my business took off I daydreamed about moving to Cali and working at PIMCO, Brandes, Oaktree, or TCW.
best of luck
Does this apply to moving from private banking to Asset Management too?
Nulla incidunt fugiat illo repellat tenetur. Explicabo excepturi in quia labore et officia non. Numquam ducimus libero officia deserunt suscipit.
Repudiandae illum rerum maxime. Et sequi qui quibusdam asperiores. Tempore odit ut quia corrupti.
Sit veritatis quisquam quam vitae. Cum et esse ea et inventore non impedit. Molestias velit porro voluptatem quod dignissimos blanditiis. Debitis eos dolores cupiditate saepe eos eum.
Architecto ipsa in et animi inventore cum officia. Nostrum dolores quia voluptas ab magni. Saepe et soluta est id modi. Placeat est unde vitae omnis ab porro exercitationem pariatur. Dicta nisi est alias aliquid et amet molestias totam.
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