How to get into an advisory role
I’m graduating soon with Finance and Accounting degrees. I already have my 65 and am working towards my 7. I currently work full-time in client services at a growing advisory firm and want to know the best way to move from where I am now into a wealth planning position at my current firm, or even better, a top firm like Morgan Stanley/Goldman. TC = $35,000/year + AUM bonuses
What is your location? It can’t possibly be NYC.
Reno, Nevada while I’m in school. Relocation is definitely a consideration moving forward. Probably advisable, right?
Rent must be cheap there. A large bank in nyc would pay even an entry level client service role on an advisory team about 65k, but cost of living here is much higher
Oh man the Base is a bit low. I think knowing the right people would be important. Like people at your dream firm who could help
Yeah, I think the base is so low because it’s my first (relevant) job and I was a little gun-shy in negotiating for more. But I figure my resume is most important to me right now until I graduate. (Though I do plan on asking for more shortly.) I do have a couple friends working for Morgan Stanley so I think I’ll follow that guidance and try to see what they can do for me. Thank you for your help!
If you want to go Advisory, BOA offers a new program that’s a straight track to a financial advisor role with base salary plus quarterly incentive. ADP-RM Role. Worth looking into, positions available nationwide. Base starts anywhere from 45-55, TC can be 65-80ish realistically. Once your an advisor base starts at 60, TC IS 100k and higher.
I’ll definitely look into that! Thanks for the heads up. I’ve now been recommended a couple of programs that operate similarly. Seems like that’s the clearest route in the industry these days.
Loose the ethics first. Also share TC.
New here, unfamiliar with TC. I’m guessing a reference to compensation?
It is.