If you are an Investment Consultant

I am wondering if you guys could give me an idea of your daily job. I used to work in equity research but wanted to move to investment consulting as I am more interested in dealing with clients. Thanks

Hey dude i work for regional investment consulting firm, will switch jobs with u n e time

Before equity research I was in business development for a large investment manager, I thought I hate it but only realized it was not bad once I moved to equity research…super lonely job…hate it to death now btw do you do a lot of analysis or it is more like training your clients and help them choose managers?

we screen the manager universe to come up with a focus group which we share with investment committees & help them select the manager thats the best fit for their portfolio, Also, help them on the Asset Allocation side, One good part about my job is that its not as competitive as ER (i think so), so it worked out well as I passed level 3 this year, am hoping for a switch now, Do you wanna share E-mail IDs, maybe we can help each other out?

I used to be an investment consultant but switched jobs about a year ago . As an investment consultant, I provided advice to institutional clients on a host of topics such as governance, asset allocation review, manager structure, selection and monitoring. With regards to your question on core responsibilities, I believe it depends on the firm. Some firms are very specialized, where you could be doing manager research only for example. We can chat off line if you want more info. Just send me your email address.

sanka, what is your relatively new job?

I am now focusing more on manager research and product/solutions for private clients. I would say the biggest difference in current job vs. prior job is the market (private clients vs institutional) and more emphasis on manager reserach.

sanka, would love to exchange ideas if ure interested

sure, send me your email address.

are you at an investment manager or consulting firm now sanka?

I am with a Private Wealth Management firm. We provide advice on asset mix, manager structure and selection. We do not do any stock picking - that’s done by external managers.

I’m currently @ a plan sponsor ( pension and endowment ) and I am considering Investment consulting as my next move . To those of you already in Investment consulting …what are the pros / cons of your job ? I’m hoping to get into a role similar to sanka as stated above and maybe eventually move to work for a SWF or large pension plan .

You either love investment consulting or hate it. Here’s my experience: Pros - Steep learning curve (some may consider it a con) - Depending on the firm, you get to cover a range of topics so you are constantly being challenged academically (I spent 6 yrs in invest consulting and I don’t think I was ever bored) Cons - long hours - long hours - pay’s not that great as consulting margins are generally thin - negotiating fees with clients - first couple of years was spent doing a lot of number crunching, which can be tedious Rudeboi, where are you located? If Toronto, I keep in touch with old firm and could recommend someone there for you to speak to.

I am in Toronto …i work for a university ( one of the smaller ones ) we have about 1.1 billion AUM ( well atleast we did about a yr ago ) . We ( i.e my boss mostly ) deal with consultants a lot as we are a very small shop . I’m not looking to move anytime soon …maybe in about 2 yrs therfore I’m just trying to determine what skills I would need to develop to make the move . Any suggestions/ideas on what they like to see ? I just passed lvl 3 and will be done with the CIPM by the end of this yr as well . Hopefully you can give some insight : sjdc0706 at gmail dot com

hey sanka and cfa my email add is fitrangnn at gmail dot com Thanks

sent an email to fitrangnn and Rudeboi. Let me know if you have any other questions.

Consulting? Forget it. Those who CAN, do (ie. actually manage money). Those who CAN’T, consult.

leafsrule Wrote: ------------------------------------------------------- > Consulting? Forget it. > > Those who CAN, do (ie. actually manage money). > > Those who CAN’T, consult. ^ Amen. All the consultants at my place were former BO, Accountants, Corporate Finance, Marketers, etc who wanted to break into buy-side but couldn’t so they settled. But might be a good move if your stuck in operations or performance analytics Anybody know how top 20 mba schools view investment consulting? It clearly doesn’t stack up against BCG, McKinsey, Bain… and clearly distant from even 2nd tier consulting Accenture, big4 Advisory, Analysis Group. Is it considered poor quality work experience?

leafsrule Wrote: ------------------------------------------------------- > Consulting? Forget it. > > Those who CAN, do (ie. actually manage money). > > Those who CAN’T, consult. I’m not so sure about that …there are people who move from the buy side to consulting . The money may not be close to ER, PM or PE jobs but its not horrible either , the hours are better and they usually have an extensive network of contacts . I guess it just depends on what you want to do .

I was a little disappointed when I opened this thread up, because I was sure “If you are an Investment Consultant” was the opening line of a good joke. To leaf and boston’s point, it’s not the most glamorous job in the world, and like many other glorified FoF type activities/services, could quickly be going the route of the dodo bird. However, I don’t understand sanka saying that the hours are long - the one pro that I know of in that field is that you can be on a golf course by 3pm every day. A couple of my friends who could’ve had much better paying and lucrative jobs took consulting/advising jobs so that they could have more free time - it’s a quality of life choice.