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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wealth managers are the dumbest of the dumb people in finance[/quote]

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.[/quote]

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management.  I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided. [/quote]

I'm not the PP, but .... you kind of proved PP's point.   :wink:   Really, you make that kind of money for being a wealth manager?  My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments). [/quote]

Valid comments. I’m the PP. there are firms that are less hands on than we are. My firm is boutique and our pay is volatile based upon market fluctuations. My anxiety and stress stems from my relationship with my clients. I want to do a good job for them, make sure they are happy. As hard as I can work to do that, the market has a mind of its own. If the overall market gets hit, my clients accounts will also get hit. They will get mad at me (some clients, many are very understanding). I quite feel like a therapist, marriage counselor, financial advisor and punching bag all wrapped up into one person. I’ve had clients scream at me, cry, all due to a little market fluctuation. My wife didn’t fully understand the emotional toll my job has on me until working from home. My job is amazing when the market is going up, but any bit of volatility and every client wants to blame someone/something. know every job is stressful, but managing the vast majority of a clients wealth is personal…plus money is highly emotional for people. As a partner in my Firm, I invest a ton of my income back into my practice, that’s why I’ve been able to achieve a higher income. My reinvestment has paid dividends (quite literally). [/quote]

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