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  1. #41
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    Quote Originally Posted by Buster View Post
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    What career path did you take
    In upstream oil and gas engineering right now, seriously looking into a career change given the outlook. I made it through three rounds of layoffs but the future looks bleak. Really interested in wealth management as I have a friend who’s a portfolio manager who has been showing me the business.

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    Quote Originally Posted by realazy View Post
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    In upstream oil and gas engineering right now, seriously looking into a career change given the outlook. I made it through three rounds of layoffs but the future looks bleak. Really interested in wealth management as I have a friend who’s a portfolio manager who has been showing me the business.
    Somewhat related, but in the last two year, my LinkedIn has been flooded with "wealth managers" and "financial advisors". Lots of O&G folks went into this apparently. I get minimum 2 sales pitches every month.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by realazy View Post
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    In upstream oil and gas engineering right now, seriously looking into a career change given the outlook. I made it through three rounds of layoffs but the future looks bleak. Really interested in wealth management as I have a friend who’s a portfolio manager who has been showing me the business.
    Is CFA the right cert for Wealth Management?

    Is that that more of a CIM thing?

    There are way too many certs these days I can see why the accountants amalgamated.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by ExtraSlow View Post
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    Somewhat related, but in the last two year, my LinkedIn has been flooded with "wealth managers" and "financial advisors". Lots of O&G folks went into this apparently. I get minimum 2 sales pitches every month.
    Shares a lot of traits with real estate

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    Quote Originally Posted by killramos View Post
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    Is CFA the right cert for Wealth Management?

    Is that that more of a CIM thing?

    There are way too many certs these days I can see why the accountants amalgamated.
    The CFA is geared towards investment management, both institutional and high net worth. 40% of the Level III curriculum is portfolio management.

    The CIM is a Canadian designation vs. the CFA being a globally recognized one. The CFA is generally considered to be much harder.
    Last edited by realazy; 11-16-2019 at 10:08 AM.

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    Quote Originally Posted by extraslow View Post
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    somewhat related, but in the last two year, my linkedin has been flooded with "wealth managers" and "financial advisors". Lots of o&g folks went into this apparently. I get minimum 2 sales pitches every month.
    wfg?

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    Quote Originally Posted by ThePenIsMightier View Post
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    wfg?
    WFG, IG, Manulife, Edward Jones, and a couple of smaller firms. I have to assume they are shotgunning thier entire network, because anyone who follows me should know I have very little to invest.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by realazy View Post
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    The CFA is geared towards investment management, both institutional and high net worth. 40% of the Level III curriculum is portfolio management.

    The CIM is a Canadian designation vs. the CFA being a globally recognized one. The CFA is generally considered to be much harder.
    Cool. Good to know.

    As for the career change, just know grass is not always greener especially if you intend to stay in Calgary. Our financial sector ebbs and flows with oil and gas and there is essentially nothing in the way of Capital markets business in Calgary over the past few years.

    If you can completely break away from Calgary and O&G thats a different ballgame.
    Last edited by killramos; 11-16-2019 at 12:25 PM.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by killramos View Post
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    Cool. Good to know.

    As for the career change, just know grass is not always greener especially if you intend to stay in Calgary. Our financial sector ebbs and flows with oil and gas and there is essentially nothing in the way of Capital markets business in Calgary over the past few years.

    If you can completely break away from Calgary and O&G thats a different ballgame.
    What you say about the capital markets is definitely true for Calgary on the research and sell side. Wealth management is a little more removed from oil and gas as it's more about managing the money of clients, especially wealthy people. There is still a lot of money in Calgary.

    Buster is right that wealth management shares a lot or traits with real estate as it involves a lot of client relationships as well as essentially acting as the middle man for the transactions. It's getting people to trust you with their money to make decisions when they do not want to.

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    Quote Originally Posted by ExtraSlow View Post
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    Somewhat related, but in the last two year, my LinkedIn has been flooded with "wealth managers" and "financial advisors". Lots of O&G folks went into this apparently. I get minimum 2 sales pitches every month.
    Trust me with your money. I can manage both your alternative investments and your alternative lifestyles. Full discretion guaranteed.

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    Well that's good cuz God knows ES' hookers n' blow portfolio is a whole other "investment" with an interesting risk/reward calculation.
    Ultracrepidarian

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    Short term gains are HUGE with my portfolio.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by killramos View Post
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    Cool. Good to know.

    As for the career change, just know grass is not always greener especially if you intend to stay in Calgary. Our financial sector ebbs and flows with oil and gas and there is essentially nothing in the way of Capital markets business in Calgary over the past few years.

    If you can completely break away from Calgary and O&G thats a different ballgame.
    Can confirm, I have CFA and did sellside research for a couple years before getting laid off, we just weren't making any money. We got I think one big deal per year while I was there, which doesn't go very far come bonus season. Couple that with the low salaries, sellside oil & gas is just long hours at minimum wage so if you go that route be absolutely sure you are passionate about the work, or have a solid exit plan. I always tell people - imagine a press release hits your inbox at 11pm Sunday night about some shitco that you don't even cover, are you the guy who jumps over himself to read and comprehend every word at 11:02? If you aren't, you probably won't stay in research very long. (I wasn't, and it burnt me out)

    And if you want to go buyside, should also know that it'll almost certainly mean leaving Calgary. There's a few in Alberta, but they're all very small and very, very hard to get in. Everyone I know that made the change went to Vancouver or Toronto.

    Saying all that, an engineer with CFA would be a strong candidate for a sellside E&P research gig.

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    What are you doing now?

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    Quote Originally Posted by Buster View Post
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    What are you doing now?
    Farming, I’d been thinking about it for years just couldn’t get myself to walk away from salary and benefits.
    Last edited by birdman86; 11-20-2019 at 10:52 AM.

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    Quote Originally Posted by birdman86 View Post
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    Farming, I’d been thinking about it for years just couldn’t get myself to walk away from salary and benefits.
    Awesome. I'm always envious of people who walk away from the office life (I'm planning to but haven't pulled the trigger yet).

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    Certainly sounds like a 'the grass is greener' type deal. I have a cousin who is at the top of a research department for a major IB bank and he is bored stiff as there is very little action or things to do. Started off as a Geologist and went back and got his MBA and CFA. Currently looking to various options to relocate. (Buy a business in the US or elsewhere)

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