Just wondering if anyone has any observations or advice?
I am trying to pivot my career a bit, but I’m a little unsure about my options at this point. I don’t think I can get into something like equity research at this stage in my life, but I do see myself working more on the investment side of things. I’m thinking maybe in risk or doing some type of portfolio construction for high net worth clients.
I’m not sure if my current role would be regarded as middle or back office. I do supervisory monitoring for a large asset management firm. (I write reports comparing different funds run by the same PM based upon holdings, trade allocation/rotation, derivative use, other things. ie the hedge fund vs the 40 act. I also meet with the PM teams to review their high net worth accounts to make sure they are managing the accounts properly.)
Currently studying for the level III CFA exam in June and I also have the CFP. I guess I’m wondering if this type of experience lends itself to another role.
It’s more important that you have a good reputation and relationships with people who might give you a chance in a different role when such an opening arises. Don’t count on doors opening from indirectly related work experience - it helps, but is not enough by itself. However, if you are well regarded by an important contact in a different division, that person might agree to interview you on the basis of character. This is how 80% or more of BO -> FO transitions happen.
You are a CFA Level III candidate and based on your current role, I don’t think you need to limit yourself at all. If you can sit down with a PM or MD in an interview and speak to your investment thesis and how you generate views that differ from consensus impressively, don’t think that you can’t do anything you want. Having contacts is EXTREMELY important but at the end of the day, it’s about selling yourself. If you can do that, the sky is the limit.
What I am attempting to communicate is that the opportunity for interviews is usually the limiting factor in career change. I am sure OP is qualified to do many jobs - or can be trained to do those jobs, based on his background. However, nowadays, employers are not as flexible as they used to be, and are less likely to give outside candidates a chance. Thus, it is important to have some way of presenting yourself for consideration.
not sure why you think you cannot get into ER but may have a chance in the risk mgmt dept. Maybe asset managers and banks have different ways/structures than that of HFs…at HFs risk dept is usually reserved for folks with MS in math, stats, computer science sorts or masters in financial engineering. never seen a cfa or cfp in the risk dept - maybe as a risk reporter…
i think you can work as an investment analyst for money managers (not HFs but RIAs) or asset allocations analyst for RIAs. Some of the RIAs have really great working atmosphere.