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Pros and cons of working consultancy or client side
Within asset management there is the opportunity to position yourself either in a consultancy role, working with a number of different projects, or on the client side, where you are dedicated to a specific portfolio. There are pros and cons to each and both sides can offer great rewards. Here we take a look at those pros and cons, to help you decide where to take your career in asset management.
Asset management consultancy
Huge variety of work, both in terms of client type, asset class, geographical location and style of asset management work needed - for example, some projects can be much more management intensive than others. A consultant asset manager is not tied to one portfolio.
Ability to make a wide range of contacts in the market via multiple clients.
Flexibility of role and career progression.
Possibility of being spread over multiple clients and portfolios.
Not always able to specialise or hone in on preferred sector or type of asset management.
Lack of autonomy.
Approval needed by the client for many aspects of the management process.
Client-side asset management
Working on owned assets of your employer.
Ability to get really involved with the portfolio, as all your time is allocated to its asset management.
Ability to focus on a particular sector and type of asset. Clients tend to have a preference for an asset type and so by choosing a role with a particular client, you are able to specialise in a particular area.
Management experience of external agents and professionals.
Some find constantly working on the same portfolio with the same assets restricted, repetitive and lacking in variety.
Often not so much career flexibility.
Both areas of asset management have their merits, depending on an individual's viewpoint. The client side is often preferred and is the ultimate goal of most asset managers but there are lots of merits to the consultancy roles, which are often overlooked. A longer stint on the consultancy side can lead to a greater depth of understanding of asset management and a more capable asset manager, thanks to the wider range of experience gained.
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