What field should I be in?
Hi Monkeys,
I could use some career advice here. Currently in PWM and am slowly learning its not my ideal field. I am looking for a role where I can use my creativity, problem solving skills, and client facing skills (I know this may sound like skills that would benefit an individual in PWM, but I am not too keen on dealing with people's personal financial situations/planning).
I am interested in how businesses raise capital, how they allocate capital, and how they measure performance of that capital. I am interested in what makes one business successful and what makes another business in the same industry not successful. I like interacting with clients and working with people. Small biz interests me as I have always had this entrepreneurial desire to start/own my own business(es). This sounds like IB, maybe a MM/boutique firm where I can work with smaller companies, but I value work/life balance and am turned off by the IB grind. What are your thoughts?
I would say your best option is to try and gain a more corporate focus within your PWM practice. Small to medium businesses will often turn to FAs for retirement plan investment and implementation, stock option program implementation, and cash management. This way you can avoid the IB grind while solving corporate problems. (which will be almost as bad at a boutique/mm). Overtime you will be able to work on more and more strategic problems for the small businesses as you gain trust.
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