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What's my carrer goal?
M y carrer goal is money managment #money-management and investment #savings
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Doc’s Answer
INVESTMENT MANAGERS – Investment managers make investment decisions on behalf of businesses and individuals and need to be sure that the investments perform well in the financial market. They may also be known as portfolio managers or financial advisors and some of their duties may vary slightly based on their specific job title and employer. You'll interact with potential and current clients to establish their investment goals and provide information about how investments are performing. You'll need to conduct a lot of research to have the information your clients need to make effective investment decisions. Depending on your client's needs, you'll may make adjustments to the investment plan to maintain your client's financial goals. While a bachelor's degree can qualify you for an entry-level position in finance, it's common for investment managers to need several years of relevant experience to advance to this type of role. They may also benefit from earning a master's degree or certification. They need strong math skills to perform calculations and they also need to have strong customer service skills so that they can effectively interact with their clients.
Like most jobs Chelsea, networking plays a crucial role in starting a career. It is imperative you try and make connections with those in the field of investment management. The connections you make can help you decide whether are right for a investment management position or not. With relevant knowledge, experience, skills, and strong references, it is easy for an individual to start a career in the field of investment management.
Ready to learn how to become an investment manager Chelsea?
Earn a Bachelor's Degree – Investment managers start their careers by acquiring a bachelor's degree in accounting, economics, business, statistics or finance, with classes in all those subjects. However, a large number of portfolio investment managers also hold a Master of Business Administration (MBA) degree, so it is advantageous for you to choose an undergraduate major that you can easily the transition into an MBA program.
Earn an Investment Manager's License – As a financial analyst empowered to buy and sell to manage a portfolio of investments, Investment managers must hold a portfolio management license. Though the Financial Industry Regulatory Authority (FINRA) oversees the licensure examinations, the exact combination of licenses is dictated by the state and the types of investments in the portfolio. Many license exams require the investment manager to have employer sponsorship, so financial analysts are not expected to have the licenses before being hired.
Obtain a CFA License – Many employing firms prefer investment managers to hold the official Chartered Financial Analyst designation from the CFA institute. Investment managers meet the designation's requirements by possessing a bachelor's degree, acquiring four years of experience and completing three examinations taken either back to back or individually. These tests cover information like asset evaluation, corporate financing, accounting, economics, portfolio management and securities analysis.
Like most jobs Chelsea, networking plays a crucial role in starting a career. It is imperative you try and make connections with those in the field of investment management. The connections you make can help you decide whether are right for a investment management position or not. With relevant knowledge, experience, skills, and strong references, it is easy for an individual to start a career in the field of investment management.
Ready to learn how to become an investment manager Chelsea?
Doc recommends the following next steps:
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Sam’s Answer
The best thing to do is to study Finance major, or economics, or accounting; something related to investment management discipline. Then you would like to apply for bank, or financial institutions to learn more about commercial side of business, for instance, CDO (collateral debt obligations). It will help you to understand about investment banking world and how to practically take what you learn at school into practice. To work as investment manager, it typically requires a deep knowledge about financial products and have worked in Wall Street for number of years, etc. Please also note that some investment managers are commission based, meaning you do not receive much salary unless you can sell the financial products to your clients. You can make a lot of money for being investment manager, but it takes a lot of efforts and some luck to become one.
For money management, you can work for a company and become a treasury manager. Treasury department manages funds and optimize cash flow for a any given of time. It also requires knowledge of forecast, commercial market, understanding of monetary policies, etc. Essentially the role is to manage cash flow, borrow money at cheapest rate, and gaining interest at highest rate.
I hope I give you perspective different than other professionals who have already provided to you. Good luck!
For money management, you can work for a company and become a treasury manager. Treasury department manages funds and optimize cash flow for a any given of time. It also requires knowledge of forecast, commercial market, understanding of monetary policies, etc. Essentially the role is to manage cash flow, borrow money at cheapest rate, and gaining interest at highest rate.
I hope I give you perspective different than other professionals who have already provided to you. Good luck!
Kenneth Romanowski
CFP Board Emeritus (R), CTFA (Ret.), Instructor and Researcher of Financial History
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Kenneth’s Answer
Hello, Chelsea. There are several types of money management. Here are some examples:
1. People who manage money for businesses or governments. These individuals may be known as treasurers, controllers, or financial analysts.
2. People who manage money for individuals. These individuals may be known as financial advisors or financial planners.
3. People who analyze potential investments. These individuals may be known as financial analysts or investment bankers.
Each of these roles requires a solid background and education in accounting or finance. Additionally, further study may be needed to earn a professional designation such as Chartered Financial Analyst, Certified Financial Planner, or Certified Public Accountant.
People in these fields are typically comfortable working with numbers and know how to analyze data. Good communication and people skills are also helpful.
Good luck!
Find want ads for jobs in these areas and see what type of backgrounds companies are looking for.
Talk to people in these fields.
Decide on what type of money manager you wish to be and then investigate studying firms that may eventually hire you.
1. People who manage money for businesses or governments. These individuals may be known as treasurers, controllers, or financial analysts.
2. People who manage money for individuals. These individuals may be known as financial advisors or financial planners.
3. People who analyze potential investments. These individuals may be known as financial analysts or investment bankers.
Each of these roles requires a solid background and education in accounting or finance. Additionally, further study may be needed to earn a professional designation such as Chartered Financial Analyst, Certified Financial Planner, or Certified Public Accountant.
People in these fields are typically comfortable working with numbers and know how to analyze data. Good communication and people skills are also helpful.
Good luck!
Kenneth recommends the following next steps: