I started out inBBIB并花了一些时间在信用基金中。在我的职业生涯中，现在有6 - 7年，我一直在考虑过渡到RM角色at aPWM/PB。I'm passionate about personal investing and love the 1-on-1 personal connection with the clients. For someone who just moved to the states for college, I don't have uncle's $$ to "manage" immediately which I see as a disadvantage without the local knowledge and HNW network.
When is the ideal age to transition (no white hair now)? Who has done it and can shed some lights?
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Comments (21）
下列的。我有同样的愿望。
As someone who work in financial planing now, the sooner the better. The career is more about time in the business, not your age. While being older helps, people trust your knowledge and confidence more than anything.
bump
In my experience, wealth managers would be salivating over a profile like this and with your interest level the fit would be great. This is such an underrated career move that I think more年轻people should consider, particularly given the dynamics of the industry. There is a literal succession crisis going on with something like $9T of client assets being managed by advisors over the age of 55, $3T over the age of 65 (source: Envestnet).
Thinking in the context of independents (i.e. RIAs vs. Wirehouses), you could have any number of opportunities. On the smaller side, you could be a succession play for a senior advisor/firm owner. In other words, work alongside and get introduced to their clients (while also getting clients of your own) and take them over in time. Honestly the same thing could happen on the larger side, but you could also be leverage for senior advisors who are looking to free up capacity to continue to go after new clients. There are countless gray haired advisors/rainmakers looking for competent next gen talent.
随时PM我,如果你想,我不是一个advisor but I live this stuff everyday and could provide some guidance.
I appreciate your thoughtful response. I'm inIBcurrently but worked in wealth management in different capacities (both clientfacing and portfolio management）大约6年，然后回到商学院。我决定在某个时候回到WM，但没有决定如何回到WM。如果您是我，您会加入一家私人银行几年，然后独立吗？还是您会尝试找到一个团队加入并从那里建造？
我知道我最初必须削减薪水，但我不会看到自己以6万美元的价格加入培训计划，除非我已经有一些锚点客户已经排队。似乎还有太多的AUM正在寻找一个继任者，以至于购买更有意义，而不是如今从头开始建造。我很想听听你的想法。
thebrofessorhas some really good insights below. My personal experience is more with independents, but I completely agree with his assessment of the respective training you would get. On the independent side I'd expect the training to be more of an apprenticeship model and generally less structured, which is the cause for the variability.
您还会发现各种“文化”，并应该考虑最有意义的是什么。一些公司采用“下水道或游泳”方法，您几乎希望您能带来自己的薪酬和服务客户来产生薪酬。有一个明显的好与坏，有些人发现有吸引力，而另一些人（例如我）会被吓倒。另一方面将成为一名受薪员工，直到您在自己的脚下之前，这可能意味着几年才能获得“支出”补偿。整个行业都有许多薪酬结构的迭代，因此我在大规模宣传中说的只是为了有意识。
好处是，您可以利用行业列表/排名（即桶，福布斯等）来了解目标。大多数大型（认为$ 10B+ AUM）独立公司不是家喻户晓的名称或国家品牌，通常所有网站都读过相同的内容（“综合财富管理”，“整体投资产品”，“在深度房地产规划中”等）。这SEC IAPD网站can be leveraged to get really great detail on client composition (are they HNW, mass-affluent, institutional focused?), ownership structure (are they generous with their equity or does the 70 year old founder hold 100%?), among other details. You can view their brochure to get a better sense of their investment approach as well as other insights that will give you a leg up during interviews. It is a great resource.
Bump
Bump
I feelthebrofessorwould be best adequate for this kind of situation.
Thanks for the tag bro, couple quick thoughts, though I'd like for OP to give me some specific questions
1。I wouldn't wait, someone said it's time in the business, fully agree with that, I started building my book at 25. Don't assume you can walk in and buy someone's book with no experience, they get paid a % of retained revenues so they want to find the right fit as well as a good check, also this idea is very well known and so there's more willing buyers than sellers
3。pbis more structured, higher initial pay, less demand on bizdev, but the clients are less mobile and you have less freedom since they're the banks clients, not yours
4。independents' training programs vary all over the place so hard to say whether or not that's a good route initially. Buddy of mine went Indy right away but built it himself so no training
5。Wire house training programs (where I am) are likely all average to good but none are great, you'll need a mentor. I'm biased because I've compared numbers with Indy guys and think I'm at the best firm so I think we're the way to go
很高兴进一步帮助，我们实际上正在寻找我团队中的投资/RM家伙，所以听到您的一些问题对我也很好
谢谢。@TheBrofessor @ebitdumbdumb
Where I'm at after some reflection:
Questions:
You sound exactly like me. I've always gotten along better with old people than people my age.
do you mean make $300-400k eventually or you're willing to take a pay cut to $300-400k?
merrills average revenue per advisor is just over $1mm.UBSis $1.7mm. At that level you are getting a 40-50% payout. You then have some expenses and should bonus your csa or whoever else works for you. That gets you to $400-600k.
Eventually $300-400K works for me. But I still want to make a decent salary in the $100-200K now.
Have you made the move fromIByet? What are some preparation work you are doing to eventually make the move?
现在旅行，但是如果我一周内不回答，请随意ping我，一些好问题
sed repellat omnis molestias non。Aliquid nulla est Quam Similique。nam unde quo voluptatem blanditiis quas quistio non。dicta numquam a et nulla。Nostrum dicta Earum tempore nesciunt qui tenetur atque。
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