Switch from discretionary to advisory PM within firm
Dear community,
The question I‘m raising is to whether it makes sense for me to switch from discretionary PM to Advisory PM within PWM within the same company!
I‘m working in my first job since 1y2m in discretionary Portfolio Management within the PWM department of a commercial bank. The management of mandates was standardized over the last years, so my main tasks include implementation of decisions made on the level of the investment committee, client interaction and assistant tasks (presentations, reports, VBA etc). I manage a portfolio of 100+ clients with total AUM of EUR 250m. Investment analysis is, unfortunately, very limited for me, but I‘m passionate about it…
I got offered a new role in the advisory team. Advisors are free to take their own investment decisions (limited by the overall strategy of the bank), compared to the discretionary PMs. The challenge to take own investment decisions feels very good imo, but I do not know the other aspects of advisory (discussing trade implementation with clients for example).
My main goals are 1) gain expertise in markets and produce good results, 2) expertise in client communication, 3) eventually switch to a larger AM firm or even HF
Does it make sense for me to switch, knowing that my client base would be cut by 2/3 as well as AUM, but I would be able to take investment decisions and would become responsible for portfolio performance? What other aspects are to be considered?
Thanks!
Cheers,
pmint
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