Stephen F. Fusi, CFA, CFP
Wentworth Institute Endowment Investment Committee
I started out as a mechanical engineer after graduating from Wentworth Institute of Technology. My career path took a major turn while working out in Los Angeles. Already a fan of the Wall Street Journal
, and starting to invest for myself, I had the lucky opportunity to meet legendary investor, Marty Zweig, who persuaded me to consider changing careers. As a result I took a job as a broker with EF Hutton, which was a premier firm at the time.
More suited to analysis than sales, I returned home to Boston where I joined an old line money management firm, United Investment Counsel, run by the Babson family. I stayed with this company and its successor, Boston Advisors, for 23 years as a Senior VP/Portfolio Manager and limited partner.
Finally I was CIO of a small RIA, New Wealth Advisors, for almost 5 years until I retired in April.
The CFA and CFP were obtained early in my career and both proved to be invaluable. Never missing an opportunity to ask good questions and seek out mentors, I was able to move quickly up the curve.
Current Position and Responsibilities:
Before I retired, my responsibilities and tasks included numerous quantitative analyses, asset allocation construction, setting investment policy and strategy, current income focus, and new business. Intergenerational wealth transfer and estate planning were my favorite activities.
I continue working to cull the various skills learned over a long career span to not only manage my family finances but also to serve as Chair of the Wentworth Institute Endowment Investment Committee.
Career Development Recommendations:
I really believe that a broader experience in the investment field will lead to a more educated and flexible career experience. While some may prefer to hyper-focus on one or more specialized areas, the landscape is so rapidly changing that a well-versed and motivated individual should be able to keep one step ahead.
Staying current is critical. A myriad of opportunities are available to do so, including those offered through BSAS. I mentioned earlier that I also obtained the CFP early on in my career. Its curriculum provided me with insight into wealth management that was additive to just analysis. I would also say that these days, the CAIA is almost a must.
BSAS Membership History:
I joined in 1988 as a CFA Level I candidate. The test review sessions offered through BSAS were very helpful and just being immediately immersed in the investment field was a worthy mindset. Also, the ability to network and learn about the many career facets of investment management helped me to better steer my own career path.
Most Valuable BSAS Membership Benefits:
Some benefits are already noted above. In addition, a professional industry organization such as the BSAS is like a group of friends. The many educational luncheons, career advice, CFA exam prep, the annual Market Outlook Dinner with its high level featured guest speakers, are just a few of the benefits available to members. The key is to avail oneself of them frequently.
I was fortunate to be a mentor in the inaugural year of the mentorship program. It allowed me to share my years of experience and career direction and also to learn from my younger mentee.
BSAS Membership Recommendations:
No membership is really useful unless one somehow gets involved. Some employers strongly encourage membership and some do not. Either way, I recommend joining early in one's career and staying a member for the long haul.
Current members should try to go the extra step by joining one of the many subcommittees. I was a member of the Private Wealth Management Committee for three years and found that this n
ot only provides the opportunity to give back but also allows members to engage with others with similar or somewhat dissimilar industry experience.
Future Benefits of BSAS Membership:
Since I have retired from the day-to-day activities of my investment career, I will be exploring ways to not only stay involved but also to use my my experience to help others. I definitely plan to take advantage of my membership by attending some industry luncheons and other learning opportunities.
I'd say that my 27 year association with BSAS has been a cornerstone of my career. Advice received and the respect garnered by fellow members has been so worthwhile.
I'd call BSAS a lifelong friend.
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