Career Discussions Need advice from PM on a second (and late life) career in the field

Need advice from PM on a second (and late life) career in the field

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    • Avatar of Bryggen1234567Bryggen1234567
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        Good day,

        I am trying to be in contact with portfolio managers (preferably Canadian) for advice on a career in your field of work.

        I just turned 50 this year and spent the past 25 years in an unrelated profession. I have had a long-time passion for investing, specifically value investing. I have nurtured and developed this interest through reading, managing my investments for the past 20 years, and getting related education in Finance.

        Now, at a turning point in my life and career —I can leave my current job with a decent pension— I want to pursue my passion. But before I do this, I want to consult professionals first to find out if I have unrealistic expectations about the job, especially if I want to embrace value investing. I know the business tends to focus on sales and short-term results, which could conflict with my expectations, but I am sure some people and firms embrace this philosophy.

        Ideally, I would like to manage portfolios for clients and be able to implement my preferred investment philosophy (value investing) to benefit them. Being an independent PM running my practice sounds like a tremendous longer-term goal, but operating in a firm that embraces the same philosophy would be equally satisfying.

        ~My questions:~

        1. Is my vision to manage clients’ portfolios by applying a value investing philosophy even doable? While I understand that clients’ risk profiles and regulations impose some limits, are passive investment and value investing compatible with the profession? Firms may push advisors to transact to generate fees, limit what stocks could be offered to clients, or impose (over) diversification.
        2. To achieve my goal of being a PM, I am aware that it will take time (4 years in Canada) and that I will need the required experience to either get the CFA or CIM designation. As someone who wants to develop and grow to be a value-oriented PM, what path would you recommend?

        First, regarding the educational path, would you recommend CIM versus CFA?

        Then, what is the work experience path: being an investment advisor or equity research analyst?

        I am afraid that being an investment advisor will turn me into a salesperson rather than developing to be an efficient value-investing PM. Would working at a small boutique firm that embraces value investing be a good option?

        I would love to be a PM so that I can work within my philosophy/style with the clients who are the best match for it. I would rather have fewer clients focusing on the ones who are the best fit for my style. If my hands are going to be tied, not having the flexibility to apply my investment philosophy to clients (or being imposed another style that generates more revenues for the firm), it wouldn’t be as appealing.


        Any general advice or thoughts would be greatly appreciated.

        Thank you!


        rituparnaduttagupta voted up
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