Stay a Financial Advisor or Jump ship?
What is your take on Financial Advisory industry?
- Is it a dying industry? (are robo and passive strategies overtaking the need for an advisor?
- Do you view it as a scummy salesman job? Or a low quality work experience job?
- Advice on my current situation; should I stick it out or jump ship? – I’m 28, just received the Charter and am an Advisor at medium size Discretionary Managed shop with good potential to grow and become a partner at our firm. I just need to prove I can bring in more assets before I can buy into the business. That is the one part of the job I really don’t like, sales. But it is a part of the job. Very good work/family balance. I am considering changing roles and going after Investment banking with the end goal of joining an Asset Management team, which in my mind would get rid of the sales role and be more sophisticated than retail money management. I’ve been applying at Asset Management offices but haven’t gotten any traction and don’t know anyone on the inside to get my applications noticed. I feel like having 3 years of IB experience would help move my resume to the top. Do you think that plan would work? Or is IB experience less valued than what I believe it to be? I also have a few kids and don’t really want to put my family through being absent for the next 3 years at an investment banking job because those hours are crazy. I’d also be interested in doing Corporate Strategy, but I think I’d need IB experience to get into that as well.
Any thoughts are appreciated. Thanks