Wealth management roles - who is the best? Who comps the best?
Most of the wealth managers (bulge bracket banks) I have worked for offer a 50/50 split (there about). I have also explored the RIA scene, which offers a more enticing split 70/30 but they have less of a brand edge. Any insight as to better deals would be extremely appreciated.
When considering the best wealth management roles and compensation structures, it's essential to weigh the benefits of working for bulge bracket banks against the advantages of joining a Registered Investment Advisor (RIA). Here's a breakdown based on the WSO dataset:
Bulge Bracket Banks (e.g., Merrill Lynch, Morgan Stanley, UBS):
Registered Investment Advisors (RIAs):
Choosing the Best Path: The best choice depends on your career goals, the level of independence you desire, and the type of clients you wish to serve. If brand prestige and extensive support are crucial for you, a bulge bracket bank might be the best fit. However, if you're looking for higher compensation and more autonomy in your practice, exploring the RIA scene could be more beneficial.
Remember, the "best" option varies for each individual based on their priorities, career stage, and the specific terms of the compensation packages they are offered. Networking within both spheres and gathering firsthand insights from current and former employees can provide valuable perspectives to inform your decision.
Sources: What are the best Private Wealth Management firms? (Salary, benefits, prestige, culture, etc)
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