Does anyone here use a Wealth Manager or are involved in the industry?

K

KsHusker

Active member
I've been thinking about changing careers for the past year or two and have waffled between:

selling/leasing commercial real estate (becoming a sales associate)

starting a commercial property management business (have some trepidations about the legal quirks of doing this...could I be on the hook for clients unpaid bills....etc)

or

becoming a financial/wealth advisor/financial planner

or

to go with my real estate ambitions, work as a project manager/jack of all trades for a real estate investor -- I have no idea how to get or fall into a job like this though (my ultimate goal is to invest/develop real estate of my own, however I need a career that will allow me to build more wealth/cash to segue into that, my current cash reserves and 1 investment property just wont cut expanding very much at the moment)


Right now Im in the insurance claims business. I work from home, have a company car, get my internet, part of my cell phone paid for and have amazing retirement benefits, fairly cheap health benefits and for the most part work for an OK company. The negatives are that the pay is just OK unless I get overtime which usually comes when it hails, horrible pay raises - avg of 1.5% a year and dealing with negativity constantly in the form of management/corporate micro managing that seems to be getting worse with younger guys taking over the leadership roles in the company, and the negativity from the customers presenting the claims --- kind of tiring always having to overcome being the bad guy in their eyes before they ever meet you due to the negative stereotypes of a claims person and insurance company in general.


So to sum it up, my job could be much worse, but Ive noticed the micro managing has gotten worse and they are making it a bit tougher to do your job and also wanting to monitor/big brother everything. I cant complain about the other aspects, but Ive found it hard to seriously want to leave due to the outstanding retirement benefits... a pension, plus anywhere from 9-25% of your salary put into your 401k by the employer every year.



Anyways, Ive figured Ive approached the apex of any possible earnings increases in this job field and am rather unfulfilled at the moment. I figure its time to move on to something else until I can segue into investing full time which I figure will be a few years. Ive always loved analyzing money, (which is a large part of my job but on a micro level), talking with people, figuring out how to use different debt instruments to get the best leverage/advantage, avoid taxes etc.

Ive more recently thought a career in wealth management or as a financial advisor would be up my alley.


Do any of you guys have any insights into this field (or perhaps the real estate fields I mentioned?)

Real Estate is my first love, but I just dont think Id be fulfilled selling it. Running #'s for investment analysis is what I love but I want to be the guy making the buying decision, reaping the profits or possibly sharing in the profits of another investor if I were to advise him/her correctly.


Anyways, I feel Im at a time for some changes in my life. Turned 34, have a kid arriving in a month and a half and have had to do some reassessing.
 
Last edited:
I think you should be a loan officer. You like numbers and investments:) Seems like mine makes a good living not for sure what schooling you need. Just A thought come on guys help him out:thumbsup:
 
Project management is a good job but comes with lots of headache. Wealth mgmnt, no clue, but know the field is flooded with several options already in a very limited market. In other words, good luck. Real estate:thumbsup: If you get your lic and get in with a broker firm to start with, Century 21 for example. It can be feast of famine. But if your in the right areas, there is room and growth. Seems many areas are on the up side. Land prices are high if you can sign or sell. Getting bookings and going to work for the people can be very rewarding. Fairly easy work, meaning physical wise. If you get good, you can do very well. Especialy if you sign high end homes and land.:thumbsup:
 
PS I work with realtors all the time, friends are etc. Also work with project or property management firms. So I have a little knowledge of the way they work. If you want to enjoy fine wine, freedom later in life, and all the bells and whistles. Get good at selling real estate. I was stupid and became a carpenter LOL
 
At 76, I've had a few career changes! Medical Devices, Business Consulting and Construction.

When I wanted additional information about a career or position I did extensive research: both secondary (internet) and primary (face-to-face).

If I wanted to learn about several business', and the people that were in those firms, I would try and find out via friends, et al who had jobs in those firms and attempt to connect with the individual. This is information gathering and it can be a fun and rewarding experience...networking!

People are usually more than happy to tell you about their jobs, industry et al. Some of this can require cold calling, and is not for the timid; however, it can be very rewarding and helpful.

A good book about this process: "What Color is your Parachute." It's all about the job search process. All about "reinventing" yourself!

Good Luck! Email me if you want to know more or have questions.
 
jonnyB said:
At 76, I've had a few career changes! Medical Devices, Business Consulting and Construction.

When I wanted additional information about a career or position I did extensive research: both secondary (internet) and primary (face-to-face).

If I wanted to learn about several business', and the people that were in those firms, I would try and find out via friends, et al who had jobs in those firms and attempt to connect with the individual. This is information gathering and it can be a fun and rewarding experience...networking!

People are usually more than happy to tell you about their jobs, industry et al. Some of this can require cold calling, and is not for the timid; however, it can be very rewarding and helpful.

A good book about this process: "What Color is your Parachute." It's all about the job search process. All about "reinventing" yourself!

Good Luck! Email me if you want to know more or have questions.
Click to expand...

:10sign: I like your thoughts and comments JonnyB!
 
jonnyB said:
At 76, I've had a few career changes! Medical Devices, Business Consulting and Construction.

When I wanted additional information about a career or position I did extensive research: both secondary (internet) and primary (face-to-face).

If I wanted to learn about several business', and the people that were in those firms, I would try and find out via friends, et al who had jobs in those firms and attempt to connect with the individual. This is information gathering and it can be a fun and rewarding experience...networking!

People are usually more than happy to tell you about their jobs, industry et al. Some of this can require cold calling, and is not for the timid; however, it can be very rewarding and helpful.

A good book about this process: "What Color is your Parachute." It's all about the job search process. All about "reinventing" yourself!

Good Luck! Email me if you want to know more or have questions.
Click to expand...

I thought you were a professional hunter:)
 
Husker,

Follow your heart and passion. I can't imagine doing claims work at an insurance company. Sure having a good retirement is nice, but if you are not happy throught your life what good is it. Thirty years of misery will sure take it out of you. I have seen too many guy's die a few years after retirement. There ar no gaurantees in life. Commercial real estate is a tough business to crack. Most of the rich ones, have some long term clients. Big money is made on rent residuals and high occupancy. I work with property managers and relators all day. Like anything else you get out of it what you put in. Hard workers make it, slackers fail. No different than any other field. Good luck!
 
Yes..."professional hunter" - sorry I missed the last career phase, Tom!

However, I still needed to "reach out" to you and others while I actively searched for new hunting opportunities. You were kind enough to take a risk on me - joining your party of pheasant hunting professionals.

Finding a new career has similar parallels; reach out and talk with people.
 
Your current job sounds like a good one except for the micro managing part. Is ti possible that that part is going to be temporary? Part of trend or related to a single person? All of which may pass? If your current attitude is fairly new, you may be able to adjust. I know insurance companies are susceptible to what I call fad management. They go from fad to fad trying to cut costs or increase profits. Another thing I have heard of is that people who work from home are more susceptible to development of negative attitudes toward their jobs, probably due to lack of peer to peer interaction, a feeling of being left out, and then . . . micro managed.

Just some thoughts from someone who considered career changes from time to time in my 34 year career - and damned glad I didn't.
 
BritChaser said:
Your current job sounds like a good one except for the micro managing part. Is ti possible that that part is going to be temporary? Part of trend or related to a single person? All of which may pass? If your current attitude is fairly new, you may be able to adjust. I know insurance companies are susceptible to what I call fad management. They go from fad to fad trying to cut costs or increase profits. Another thing I have heard of is that people who work from home are more susceptible to development of negative attitudes toward their jobs, probably due to lack of peer to peer interaction, a feeling of being left out, and then . . . micro managed.

Just some thoughts from someone who considered career changes from time to time in my 34 year career - and damned glad I didn't.
Click to expand...


No, the micromanagement is not a fad unfortunately. I left a company that was horrible for their micro management to come to this one because it was not a problem here. Unfortunately with all of the changes/ceo speak coming down the pike, it is going to get worse. Its not near as bad as the other gig yet, but I foresee in the near future it will be there.

You are right, I really dont have it that bad, however career wise, Im completely unfulfilled and would like to move on, Id just like to find something with a similar freedom (work from home or that ability etc, equivalent compensation or more pay to make up for not having a co car etc.)


Not having a daily commute is kick ass, however enjoying what you are doing and having the ability to make more money if you work harder is what Im after. Not a lot of opportunity for that here presently. Im starting to see more grumblings and discourse amongst some employees/agents of the direction things are going. The morale may slip a bit.


Just starting to do some homework. As soon as my wife gets her education finished and this little one is one or two I plan to jump at the first opportunity. Would like to narrow it down to one or two things to focus on. Know a guy who is a financial manager so maybe will have to see if I could some visit with him some.
 
Good idea: start networking and see where it takes you. Most people are more than willing to talk about their jobs, careers and industry. I always sent thank you notes to those that took their time to visit.

The library is full of "career changing" books - others have gone before you and have written a road-map on how to proceed. Let's hear from you on what you have discovered, about yourself and the opportunities you uncover! It's a grand adventure!
 
I agree with JonnyB. The only way you will learn about new opertunities is to ge out and network with the people that are already in those careerfields. Problem is that can be easier said than done.

Once you make contact/talk to some of these people make sure you understand what school/skill set you are going to have to have. It sounds like you are a couple years from making the jump but it may take you that long to get where you are competitive in that job market. You may need some type of certification to get your foot in the door.

No one likes to be stuck in a "Dead End" job but you need to do a pro/con checklist and see where things are at. Working from home, good retirement plan, company car, paying for internet and phone are pretty big perks that you?re not going to get from most other employers. That being said doing something that you love/like is probably more important. Makes it hard to get up in the morning for the next 30+ years if you are not happy with what you are doing.

Last thing I will say is about micro managing--you wont get away from it. We all have different tolerances for it but unless you work for yourself someone is going to be looking over your shoulder wanting to know whats going on or when that report you are working on is going to be completed.
 
You must log in or register to reply here.
Back
Top