Wealth Management options

I am in the Wealth management space. I currently have a good job with a client book and am paid well. My concern is that the client book is not technically mine (think of us as advising other firms clients) so if that firm leaves I can lose a lot of my book quickly since the underlying clients would go as well. Our firms growth has also slowed. I have been recruited by a firm that has older Advisors that have significant books and will be retiring in the next 5 or so years. They want to bring me on to work new business and transition their clients through a succession plan over the long-term. The upside is significant as my pay could double or triple once they retire. Main downside risk is I would have to focus on closing new referral business for the first year or two. If it didn’t go well, there is always risk that the succession plan is altered since I haven’t worked with these people before. My current firm I’ve built a lot of political capital and respect so very little risk. Thoughts?

 

Temporibus ex quia dolores sit dolor. Corrupti animi saepe maxime et odit veniam alias. Iste eum vel voluptatem facilis facilis ut perspiciatis. Quae molestiae temporibus maxime dicta magnam dolores. Ducimus quidem accusamus magni sint.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.8%
  • Harris Williams & Co. 25 98.3%
  • Goldman Sachs 17 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
CompBanker's picture
CompBanker
98.9
8
kanon's picture
kanon
98.9
9
bolo up's picture
bolo up
98.8
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”