| Topic Name: |
Downside of investment advising |
| Message Name: |
What's the downside... |
| Date Posted: |
11/11/2007 |
| In Reply To: |
I'm considering a career change. Two options are investment advising and equities trader. Would love to hear from anyone who has experience in these roles with an answer to the question - what do you really really not like about this job and if you knew then what you know now would you still be an investment advisor or equities trader. Thanks
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| Message: |
I have been in the financial Services industry for over 25 years and still love it. There are more upsides than downsides to this career. With that said, just like anything, there isn't a "perfect" career...all have their ups and downs. As for an investment advisor you will find that you are, as well as everyone in your firm regardless of their position, required to bring new clients and assets to the table. Initially this is the part that people, regardless of education, stub their toes. You must be able to source, meet and close new clients regularly. If you cannot bring in new clients you are simply overhead and in this industry that doesn??t fly. If you do not like that idea of consistently developing and growing you and your firms client base then you should consider an alternative career.
Over the years I have hired and fired PH'd s, MBA's, CFA??s and so on that could not perform these duties. Intelligence has nothing to do with it either. You would be in great company of all that have tried and failed in this career. FYI, most of the people who could not perform these duties failed only because they could not get over themselves. Their attitude towards this part of the job was that it was beneath them. (Now keep in mind none of them admitted this fact but their actions or lack of action proved it to be true.) This career requires a unique individual that thinks and acts like a business owner and not an employee yet still become part of a team. The firm you work for should embrace the concept of coherence where 1 + 1 = 4 and then you must become part of that dynamic adding to its multiplying effect. You approach this career with your head on right and honestly asses your abilities and if you find that it is right for you go for it, don??t look back and challenge yourself to grow every day and never stop learning and serving others. Good luck to you.
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