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Advice Needed For CFA

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Apr 13, 2010 5:17 pm

Hello All,
I'm a new member to the forum, and I wanted to pose a question to all of you.  First a bit about my background: I spent about 4 years as a Financial Advisor in the early stages of my career and worked doing a lot of cold calling yet working with clients to build investment portfolios.  I got out of the business mainly because I was sick and tired of the selling part of what I was doing.  Most of my income from the position was commission based and I was forced to make many transactions in either funds, municipals, or stocks to get paid.  I left and got my CFA and have been working for a major broker/dealer for the past 4+years as an investment analyst.  I'm responsible for the selection of managers in many of our allocation models here, and have had some great exposure to various methods of asset allocation, macro overlays, etc.   I'm now looking for the next opportunity in my career.  I have recently thought that since I have had the experience as both an advisor and from a research perspective that I should revisit the thought of once again working with clients.   I'm mostly interested in still focusing on the research end of things and would like to build various equity, fund, etf or fixed income portfolios for clients.  I guess my main issue now would be where do I start?  I guess the problem is that I can't leave my job here without any sort of asset base.  I was thinking that if I could find someone who is more skilled on the sales side with a decent book of business I may be able to partner up with them and create the availability of more opportunistic research capabilities for which they could offer to clients.   Does anyone know how I might go about finding these advisors?  Or what might be the best option for me at this point?  Thanks!  Any help would be appreciated.


Apr 13, 2010 10:47 pm

Here are my two cents:

Calls the RIAs in the area and see if you can find a rainmaker who likes to do seminars and bring in clients and offload them to an advisor.  A long shot, but have seen them. 

Call the BOMs at the wires.  See who has the largest number of older brokers on the team.  Get hired as a solo advisor, put your head down and work hard and see if one the older brokers will pick you up.  Keep in mind the average age of a broker is 55/60 ish and that means plenty are over that and  plenty are under that.  Your goal is to find one of those older than that who wants to teach someone the ropes and then transition out.  This is more likely, but still a long shot.  Some of those old school brokers still like to manage stock  portfolios and they will get a kick out of your CFA.  Be humble.....

Be persistant, keep calling, keep networking, keep asking.

For a nominal 10% agent fee, I can give you more specific advice! 

Apr 20, 2010 9:13 pm

use the CFA institute career section as a member and search for RIA firms looking for wealth managers or PM's

go to and visit careers section for listings

go to your local FPA society page, search careers there.