Good career move? Private Equity
I’m relatively new to the business of being a broker, 2 1/2 years.I started at a small firm cold calling, pitching stock and opening up the required minimum accounts for my senior broker. A little over a year ago I moved to a private equity firm that does only private placements with my senior broker, learned how to ask for big orders as the minimum required to open these types of accounts is bigger than opening a regular stock account at a small b/d.Then moved on to another firm specializing in privates, had a temporary partnership and I’ve now been called up by former colleagues from the private placement world to come and work in their start up private equity firm.I will receive an advance on future commission so I can survive, have no overhead costs and I now have the opportunity to build a book of business of my own, until now no book, only clients I’ve opened and lots of very warm leads of accredited and qualified investors I’ve developed. My question to the veterans, am I being to narrow in my career focus by just doing privates and nothing else or can a newbie like me build a really big solid book of business by going this route? Your experiences and thoughts ,please.