Job Responsibilities
Manage nearly 300 investment portfolios in accordance to their
risk tolerances, income needs, and objectives through mutual
funds, bonds and stocks.
Alot of time is spent adjusting the portfolios to comply with
their objectives, raising cash for distributions and reinvesting
bonds that matured.
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Job Requirements
Ideally you will achieve MBA and CFA to reach pinnacle of
profession. CFA is increasingly favored.
The important part is finding a firm anywhere to get your feet in
and then furthering your credentials to grow accordingly.
The competition is becoming fiercely competitive to enter. The
more credentials the more opportunity to get a chance to enter
and grow.
The name of school you went to is also very important in order to
get join the top firms in the desired locations. Clients like to
know their money manager came from top school. Had one leave me
because he wanted an IVY League manager though I was beating the
S&P and his $500k will get no attention from anyone of greater
credentials.
Once you get in the door its all about beating the S&P, retaining
clients and potentially finding new clients.
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Uppers
Helping clients and their families reach their financial goals and potentially
making an impact for generations to come.
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Downers
Having the market go against your investments though your
reasoning for purchasing and maintaining are just.
A client knows someone who says they performed better.
Clients are never totally satisfied with investment performance.
If you doubled their money they want it tripled.
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Lifestyle
Obtain CFA ASAP and be involved in local analyst society for
networking.
MBA is secondary since less pertinent. Mostly a line on the
resume.
So long as their are wealthy people or people leaving money to
future generations they need their investments managed.
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Compensation
$65k + up to 50% performance bonus based on profitability of unit
(due to market) and your performance against S&P and growth of
asets under management.
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Advice to Jobseekers
Obtain CFA ASAP and be involved in local analyst society for
networking.
MBA is secondary since less pertinent. Mostly a line on the
resume.
So long as their are wealthy people or people leaving money to
future generations they need their investments managed.
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