How do I become a Fund Manager, Broker etc.. ?

[*JDR*]

I need some career advice please.
I am trying to make a career change into the “financial services” industry. My preference would be in a role that would end up as a fund/portfolio manager.
Firstly let me point out that I am under no illusions that this might be impossible for me… I am 33.
My degree is a Bachelors of Business with a major in Finance (all that stuff about asset valuations and all the usual theoretical topics). However after my degree I got waylaid by the IT industry and they kept paying me enough money to just keep me interested.
Unfortunately, I’ve now realised that the money is (almost) pointless and I am more interested in doing a job that I enjoy and find challenging and interesting.
So here is where you can help.
Can anyone advise any sort of route into the industry that may be available to one such as me?

Options I am considering are financial adviser, stockbroker and my preferred option working for a fund manager.....

Thanks

 

[Jack o'Clubs]

You might have a chance entering as an analyst at associate level, which will get you on the ladder. You'd need to be thick skinned at 33, because you'll get knocked back a lot because you don't have prior experience and if you land a place, you'll have to accept being treated like all the spotty 25 year-olds doing the same thing as you, but taking a more direct route, eg entry as ACAs. Your chances of entering immediately in a direct fund management role are zero because however much you can argue your track record trading privately, the job is about a lot more than just managing money: can you sell/present to clients, handle tricky company management meetings, etc.

Your best bet is to go to one of the big careers sites like efinancialcareers, look up the jobs you think you'd be able to do (ie buy-side associate equity analyst) check out the agencies that handle the selection (you'll notice the same three of four names keep coming up) and call them for a chat.

Your chances might be higher than you think, as long as you're prepared to accept a few years moving back down the ladder (maybe in pay too - the buy-side don't pay much for an analyst), in order to move back up in the direction you ultimately want to go.

It also has to be said, your timing ain't great - a lot of new hire freezes out there at the moment. But on the other hand a lot of it is about confidence and self-belief.

 

[*JDR*]

Thanks for your input Jack.
I am under no illusions as to being a fund manager immediately..... that would be the longer term aim.

 

[Jack o'Clubs]

Just one other thought... in the UK at least most institutions are fundamentals led and consider people who stare at charts with a little distrust! You'll need to think about how you dress up your trading experience to look relevant because a lot of them may not equate the skills you use trading with the skills they will be looking for in conducting fundamentals based company analysis and valuation.

 

[*JDR*]

Thanks GJ.
You are sort of correct on the focus issue.

It is not that i don't know what I want.... Fund Management is #1.

It is just that I would be happy to go into stock broking also....

 

[Jack o'Clubs]

You've got a better chance of getting into fund management than you have broking. The sell-side is far more picky on academic record, previous experience, professional qualifications, etc. There's fewer of them, and more demand for the places. Frankly with your background you've left it too late / gone a different path.

You might be able to sell yourself to a small buy-side firm at associate level, but you're looking at £40-£50k basic with a small (ie 20%-ish) bonus. Are you sure you want to swap for that (I thought IT bods in the City minted it...?). And if you start with a small firm, there's no guarantee that you'd have a strong enough cv to swap to a big one, later. Different firms treat the analyst role differently too. In some it's a credible and respected career direction, properly partnering the PMs in making investment decisions, in others its a very junior role aimed at training people towards PM responsibilities.

Following GJ's train of thought - is your IT experience and general all-round rocket-scientistness enough to get you into front-office IT development?

 

[arturo1]

broker carreer

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