While researching a career in the Private Wealth Management Industry, I came across this forum and figured I would try you guys for direction. Up until recently, when I thought about wealth management, I thought of working with ultra high net worth individuals, and managing their financial futures. After some research, I am seeing that there are several paths within the industry. For example, you have your small team within a large bank (Goldman, RBC, etc.), where there seem to be analyst, associates, and so on. Then you have your independent Financial Advisors, who are not working for a larger bank, and have seemed to have built their business through starting in insurance sales, etc. And finally, I am seeing PWM training programs where you get put through the ringer for a few years, and hope to out alive with your own book of business.
My my question is, what should I be narrowing my job search down to, what path is best suited for someone like me, and what are the advantages/disadvantages to each?
A background on myself, since I have a bit of a diverse background.
Went to at Texas A&M, got a bachelors in accounting, masters in finance, and have my CPA. I worked for a big 4 accounting firm in audit, and then did corporate sales for an oilfield service company for a little over a year until the oil field fell out from underneath me. With this type of background, what would be a good entry point into this industry?