How to Develop Your Career in Asset Management

Pursuing a career in asset management can be an excellent way to earn a lucrative income. After all, for as long as people have smart money, there will always be someone looking for a professional to help them make the most out of their wealth and investments. Asset managers can work with a variety of different clients, from major corporations, to individuals, to help them explore new investment opportunities and unlock new chances for growth.

As people become more financially focused, the demand for asset managers is set to increase drastically over the years ahead. However, if you want to increase your income potential and unlock new opportunities in your asset management career, you need to be willing to invest in taking the next steps. Here are a few of the ways you can build on your career in asset management.

Get a Relevant (Up to Date) Degree

If you’re already working in the asset management landscape, there’s a good chance you already have an education related to the fundamentals of finance, risk management, accounting, and wealth. However, as the landscape for investing continues to evolve, it’s always worth looking for ways to take your education to the next level. The more academic experience you have, the more you’ll be able to apply for cutting-edge jobs and roles.

Depending on your available income, you may need to look for different ways to access the funding you need to take the next step in your education. Younger adults or those without the best credit history may want to consider looking into private student loans with cosigner. A consigner can help to improve your chances of getting a better deal on your loan, by reducing the amount of risk the potential loan provider is going to be taking on.

Develop More Experience

Although a good education will improve your chances of earning a high-paying role, it’s important not to underestimate the importance of experience too. Most clients and professional companies will be looking for support from an asset manager who already has experience working with similar customers in their industry or area. Ask yourself what kind of clients you most want to work with, and start pursuing opportunities that will allow you to gain experience in this space.

One option could be to start offering your services as a freelance consultant while you’re working in your standard role. This could help you to interact with more clients and expand your resume. Plus, it’s a great chance to get an insight into different types of asset management.

Consider Building Your Own Business

If you like the idea of exploring different client opportunities and environments with freelance work, it might be worth looking into an opportunity to build your own business. These days, it’s a lot easier for an asset manager to build a portfolio and professional brand online with the help of website creation tools and social media. Taking this route could help you to earn more money, as you’ll be able to set your own rates, and even eventually hire other professionals to work alongside you. However, keep in mind you will be responsible for attracting new customers to your company on a consistent basis, so you’ll need to know a little bit about marketing and promotion. You’ll also need to manage your own taxes.

Network Frequently

Finally, who you know can make a huge difference to your career as an asset manager. In some cases, it’s even more important than what you know. Whether you’re working for yourself or building your career with a traditional company, it’s a good idea to invest as much time and effort as possible into strengthening your connections with other professionals.

Get active on social media channels like LinkedIn, and make sure you’re following other industry leaders on various channels. Take part in local events so you can meet with people face-to-face, and always have a business card handy if you run into someone. Focus on strengthening your connections in the financial space, and you’ll start to earn a reputation as a more credible professional. You may even find the right connection allows you to open the door to a new job opportunity somewhere down the line, so you can earn more.