Life after Financial Advisor Career

3 replies [Last post]
BustedTrade0830's picture
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Joined: 2014-05-15

Hi everyone - hoping to get some perspectives on switching career paths after 7 years as a Financial Advisor/Investment Associate/Paraplanner.  I have a Bachelor's degree in Economics from a Big Ten school so I can't imagine I am "stuck" in financial services forever.  However, I feel like the experience I have gained in these roles has severely pigeonholed and handcuffed me to looking for another menial role in wealth management.  Sure Financial Advisors have prominent sales skills, but I learned that I don't nor care to improve them; this lead to my demise as a producer.
 
With that said, I'm looking to leave the business altogether and pursue something outside of sales.  Without an MBA and/or CFA, virtually all investment management jobs (even entry level) seem unattainable.  This is the part of the business that I excelled at and found most rewarding, so I enrolled in the CFA program.  But, I can't find anyone who is hiring a guy with his books and that's it.
 
I would imagine myself and the other 95% of failed new advisors over the past few years have run into this problem of skills-dislocation.  Bottom line is I'm struggling to find a career path that I appear marketable to so any suggestions are much appreciated!
 
Thanks!

buyandhold's picture
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Joined: 2008-09-23

Good question. I sometimes feel I'm in the same boat.
Unfortunately, this is a sales job, and if you don't like sales or don't do it well, the job doesn't provide an avenue for anything else (beyond maybe being a sales assistant.)
Wholesaling is a possibility, but that's a sales job, too, and very difficult.
Some have become analysts for fund companies, but that's a different job track and has many, many young people coming out of college ready to do that.

buyandhold's picture
Offline
Joined: 2008-09-23

Good question. I sometimes feel I'm in the same boat.
Unfortunately, this is a sales job, and if you don't like sales or don't do it well, the job doesn't provide an avenue for anything else (beyond maybe being a sales assistant.)
Wholesaling is a possibility, but that's a sales job, too, and very difficult.
Some have become analysts for fund companies, but that's a different job track and has many, many young people coming out of college ready to do that.

TexasFA's picture
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Joined: 2015-03-10

I recently moved from the tech industry into financial advising, technology consulting for financial planning tools might be worth looking into. The technology behind the financial advisor is critical and who better to consult technology companies than a seasoned financial advisor. It might be worth looking into unless you are the type that uses the hammer to fix the printer!

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