Sales opportunity management for finance

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what is going on people welcome back to the channel today we are talking about exit opportunities for sales people now this isn't something a lot of people talk about it's not something I've covered before maybe very briefly but the reason I'm doing it is because typically when you enter asset management for example you can go into an investing role where you're investing in the financial markets or you could be a salesperson where you're building Clan relationships pitching to clients and all of that so today we're going to talk about the exit opportunities for these individuals because a lot of you have asked me to do a video on it the exit opportunities we're going to talk about include moving over to Asset Management competitors moving over to boutiques moving over to private wealth management or private banking moving over to investing roles moving over to entrepreneurship Consulting sales and trading and private Equity so if that sounds of interest to you stick around and let's get straight into the video all right before we start let's highlight some of the key skills or roles and responsibilities of a salesperson when you're in Asset Management there's two sides right there's so money comes into the firm right and then that money gets invested by the investment professionals they're the technical people but the people bringing that money into the firm are the sales people the sales people are responsible for managing client relationships making sure clients are happy making sure they are prospecting so trying to find new clients and bringing new business into the asset management firm so essentially A salesperson does that brings in new business pitches new clients and makes sure existing business is kept happy existing relationships existing clients get everything they need and are offered you know the latest offerings that the firm has to provide for its clients so salespeople you need to be good at interpersonal skills communication you need to be a good public speaker so when you're going to a meeting you can confidently talk to the people around the table um you need to be good at networking you need to be comfortable picking up the phone talking to people going to dinners and coffees Etc with clients all of that it sounds scary it sounds daunting but the truth is it's all learnable the more you do it in the industry the more you get better at it and also a top tip is the more technical you can be as a salesperson so the more you know about the investing side the easier it becomes because then you've got more balls to your arrow right it's not just one bowl that is you know strong sales skills or interpersonal skills you've got all of those plus you've got the technical aspect plus you've got the markets knowledge blah blah blah so that's what a salesperson does so after a few years you're going to be in sales and then you're going to be like all right I'm bored of working at this company what should I do so a lot of people leave let's say you're at sales in a big bulge bracket Investment Bank in Asset Management so some people leave the company and go work for a competitor and the reason for that they might prefer a different culture they might have a better offer because the recruitment consultant that reached out to them on LinkedIn is offering a higher base salary and a pay package better compensation better benefits um and so typically when you're at one company for a few years it's always good to look at what else is out there whether it's a competitor so let's say you're at Goldman tax Asset Management you might move to JPMorgan Asset Management so that's a competitor in terms of it's another Investment Bank that does asset management or you might move to a pure play asset manager so it's not tied to an investment Bank you might move to a BlackRock or a Pimco a firm that just does asset management and the reason for that is you know if you're at an investment Bank doing Asset Management you're just one division of a big firm whereas if you go to a BlackRock or a Pimco the company their bread and butter is asset management so it aligns with what you want to do they have a bigger focus on asset management and probably more opportunities for your career growth within Asset Management as an industry than just being part of a small Cog or a division in a big Investment Bank that cares also about Investment Banking sales and trading and all these other things so you get more attention so some people might move to competitors or boutiques because of the culture or pay opportunities but they still enjoy their sales role they want to stay in the industry they just want you know to experience something different at the same time as something they're used to if that makes sense next we've got investing roles believe it or not some people move from sales roles into investing roles so highly Technical and the reason they do that or the reason it becomes possible to do that is as a salesperson you know throughout your time in sales it's good to keep abreast of what's going on in the markets but also if there's an NASA class that you like whether it's fixed income or equities or whatever whatever it is try and improve or increase your knowledge in that space so when you're going for interviews in these roles you can impress them and there's always people leaving these seats and so there's always opportunities and so if you're a salesperson interested in an investing role it's all about just getting the technicals right showing you are serious about being in an investing role by doing for example the CFA everyone in an investing role is going to have to do the CFA level one two three to get that CFA Charter next to their name because it shows them that they've got you know a strong level of understanding of fund management investing all of that and so as a salesperson if you've got CFA that helps and then it becomes easier to transition some people just aren't feeling the relationship building the pitching all of that and they just want to go and sit at the desk and do technical work Excel PowerPoint um learn the details about portfolios and how to manage risk how to manage portfolios all of that and so that's why they move over so that's an exit opportunity now if you're interested in going into investing roles there's different types of asset classes that you can go into there's fixed income investing Equity investing multi-asset investing now one asset class that seen substantial growth in the last few years is the alternative asset class Alternatives includes things like private Equity investing hedge fund investing Venture Capital art so on and so forth Goldman Sachs and BlackRock said in September that the days of Tina there is no alternative are over one alternative in particular that's all amazing numbers in 2022 is fine art 2022 was the best auction year ever with the highest total from The Big Three auction houses nearing almost 18 billion dollars it's pretty impressive and also interesting to learn and that's why I'm excited to partner with Masterworks Masterworks have been written about in the Wall Street Journal Business Insider and the financial times they offer paintings from legendary artists like Picasso Monet and Banksy and each offering is qualified by the SEC the Securities and Exchange Commission and broken into shares so when Masterwork sells a piece of artwork you get a slice of the potential profits Masterworks last three exits have delivered 10 14 and 35 net returns in all of their exits to date Masterworks have delivered positive net returns to their investors and that's how in 2022 they paid out over 25 million dollars in total to their investors it's a Sleek easy to use and very fast growing platform which I would recommend to anyone interested in accessing contemporary art as an asset class paintings have sold out in minutes and they've got almost 700 000 members on the platform in order to keep up with demand they released new offerings on the platform regularly however there's a waiting list to get access but you can skip that waiting list by hitting the link in the video description down below with that let's get back to the video the next exit opportunity is private wealth management or private banking a lot of people move both ways so people go from private banking into Asset Management some people go from asset management into private banking the key difference here is in Asset Management you're managing money for large corporations and governments and all of that private banking you're doing the same thing by your clients are different you're managing money for Rich individuals or family offices High net worth and ultra high net worth individuals so if I was a salesperson in Asset Management why would I want to go into private wealth management or private banking maybe like I know I've got the sales skills but maybe I'm bored of the clients like I'm tired of talking to trustees um and you know people who are tied to organizations and I want to deal with individuals I want my clients rather than my clients being governments and companies I want my clients to be higher net worth of ultra high net worth individuals so I can provide them a you know bespoke service I can go to more events I could do more whining and dining I could lead a more luxurious and fancy sales relationship management business as opposed to one that's more tied towards institutions and larger clients key difference also to consider is when you're in Asset Management the size of the Investments are a lot bigger because you're dealing with companies and governments they have a lot more money to invest the size of the Investments when you're working with private clients High net worth individuals it's going to be smaller because it's individuals but you know there a lot of people are attracted to this type of role because you get you know your clients are individuals wealthy tycoons celebrities whatever so it's more of a personal sales business with more of a personal touch so if that's something you're interested in then that's a common route for people to move from sales in Asset Management to sales in private banking all right next exit opportunity for Asset Management sales individuals entrepreneurship so a lot of people develop interpersonal skills communication skills the ability to manage lots of lots of different work tasks projects Etc at the same time the ability to manage relationships talk to people present public speaking all these things and they come in handy and creating you know nice looking pitch books on PowerPoint using Excel all of that all these skills come in handy to equip individuals to go and pursue entrepreneurship so you know going starting a startup or starting a business working in a startup working in a big business whatever it might be so a lot of people move from asset management into entrepreneurship it's one of the you know lesser or less common exit opportunities most people because you have to keep in mind to go to give up a full-time job and do entrepreneurship full-time very risky but that's one option that a lot of people do and it's typically because they've got this Burning passion or idea that they want to explore and so they do asset management develop their skills and then go and pursue entrepreneurship a lot of people move from asset management into Consulting and the reason for that is because in Asset Management you are essentially managing relationships I say this a lot because that's essentially what you're doing managing relationships but a lot of people get bored of you know managing relationships and what they want to do instead is advise clients so in Consulting for example in management consulting you're kind of the expert an expert in a given area clients come to you and you have to create a solution a customized solution for that client and then you present it to them and you advise them tell them do this don't do that XYZ right so it's more of an advisory role and a lot of people move into Consulting from Asset Management to do that because that's what they're interested in another advisory type role you could do is Investment Banking but Investment Banking as we all know it's a lot harder to break into compared to consulting or management consulting I'm not saying it's not hard to break into management consulting more people move into Consulting types of roles from Asset Management than they do to Investment Banking having said this Investment Banking is a common route for Asset Management people to go into it happened a lot in my class when I was at Goldman's a lot of people moved from asset management into Investment Banking it meant they had to go and enter a year below what they were so they can just build their experience build that knowledge Build That Base so they can be good at that role so yeah people sometimes get bored of the relationship building side and they want to do more advisory stuff all right second to last exit opportunity that we're going to talk about today sales and trading some people move from Asset Management down or up into the sales and trading floor so Global markets and they're going to sales there because maybe asset management is too slow for them Asset Management focuses on a long-term client relationship long-term investing where our sales and trading it's a lot more intense it's a lot more faster paced the Investments are a lot shorter in terms of time Horizon compared to asset management and so all some people get bored of you know doing sales in Asset Management where it could seem like a drag and they want more excitement they want more pressure more um yeah just more high intensity and so they go to the sales and trading floor and they do that and you know they might cover a specific product or specific region but it's a very common route from Asset Management to sales and trading also it works the other way some people go from sales on trading because they don't like the intensity they come to Asset Management it's a bit more chilled out you don't need to be in so early before the markets open in Asset Management it's a longer term Horizon whatever you know works for you or interests you you'll learn after a few years what your preferences are for a career which industry which area you like and then you just develop your skills and then move ingly there's always opportunities so a lot of people do that all right and last but not least oftentimes people think all right to go into private Equity you need to be an investment banker this isn't true one thing that a lot of people especially students and graduates forget is that all these roles Asset Management sales and trading private banking private Equity Investment Banking hedge funds so on and so forth all these companies divisions areas right they don't just have one role like they don't just have an investment bank card they just they don't just have a Trader each of these have tons of different roles you could be a marketing professional within private Equity you could be a human resources professional A salesperson a client relationship manager an advisor a technical individual whatever there's so many different roles and so yes if you're in Investment Banking you can move into private Equity the investing roles in private Equity but within private Equity there's also different roles that cater to different skills and individuals for example if you're in Asset Management a lot of people have moved from Asset Management sales into private Equity firms and what they do at the private Equity Firm is basically sells like they did in Asset Management in private Equity there are investor relations roles so individuals who are responsible for managing the relationship with investors so for example in a private Equity Firm there's going to be lots of investors right giving money to that firm for them to invest it into private Equity Funds and so as a salesperson or an investor relations professional I'm responsible for managing those relationships helping them as a salesperson get what they want make sure they keep make sure they're kept up to date on everything there's also private Equity professionals who are doing the investing there are individuals who are creating models on companies identifying opportunities doing all the technical stuff that's harder to get into because you haven't got that previous experience as a salesperson it's easier to get into if you come from IBD because you've got that analysis modeling expertise already but if you're a salesperson you can go into private Equity but it's easier to go into a private Equity investor relations role as opposed to a technical role and that's because that's where your expertise lie based on your previous experience as a salesperson that was a lot if you made it to the end of this video give it a thumbs up and let me know what video you want to see next in the comments down below and check out Masterworks first link in the video description and I will see you in the next video peace