As a newly-designated accountant, there’s no doubt you’re thinking about your next career move. And if a career in investment management has piqued your interest, you might be wondering about the different areas you can work in.
So, what are the main areas of investment management and how do you know which one to choose?
Here are the four main entry points into investment management for newly-designated accountants...
Asset managers invest in a wide range of traditional and alternative securities and assets on behalf of institutions, corporations and high net worth individuals. It is a large and important global industry in its own right, responsible for the ongoing monitoring and management of trillions of dollars. As a newly-designated accountant, there are a number of roles open to you – including all aspects of financial control, internal audit and junior analyst positions. A flourishing industry and broad exposure to global markets make this a great career option.
A hedge fund is a special type of investment fund. As a newly-designated accountant, you’ll be sought-after by a number of the larger hedge fund managers who will look to place you in their product control teams. In this role, you will have exposure to a huge range of financial products, interact with the front office and take ownership of relationships with prime brokers and administrators.
Private equity firms invest in companies which are not freely tradeable on the public stock market and then take a direct and active role in the support and management of change after investment. Most firms have a particular market focus due to the expertise of its partners and a certain level of investment. The private equity market in both Canada and abroad is extremely active. As a newly-designated accountant, private equity firms may recruit you into traditional accounting roles or as analysts. On joining a private equity deal team, you will aid in aspects of deal analysis and execution on target investments.
Private wealth management (PWM) generally describes investment management and financial planning services delivered to high net worth investors. With an increase in the number of affluent investors in recent years, there has been a rising demand for private wealth managers and as firms have increased their headcount, the demand for accountants to work in financial control and business partner type roles has also increased. The wealth management space is a fast moving and dynamic industry so if you choose this sector, you will have plenty of opportunity to progress and develop.
Banks and financial services institutions are crucial to the growth of Canada’s and the world’s economy. Toronto is the hub of the Canadian financial industry and is home to the head offices of Canada’s five largest banks, three of which rank among the world’s largest 30 banks by market capitalization. You will also find:
• 2 of the world’s largest life insurers
• 7 of the 10 largest global hedge fund administrators
• 3 of the top 60 global pension funds
• Headquarters for 9 of Canada’s top 10 mutual fund companies (based on assets under management)
The financial services sector is a sector of innovation – every day new financial products, new ways of protecting business against risk, and new technology is created to make business more cost effective and able to react to a fast-changing world.
Whatever area of investment management you do choose, just know that there is no shortage of great future career prospects and fantastic development opportunities.
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