What is Product Specialist?
I just saw a local AM firm is hiring interns in my school for their Product Specialists team. I wonder what product specialists do in an AM? It seems to me that the role is more about client-facing/ sales work, while BlackRock puts their specialists team under PMG, not GCG:
"Product Specialists — provides essential services to both the portfolio management Group (PMG) and the Global Client Group (GCG), serving as the link between investment teams and account managers."
What exactly is this? What specialists do on daily basis?
Thanks
Asset Management: Product Specialist Job Description
Is this a technical role or purely sales?
from @RealSlim"
Product Specialist can mean many different things all across different asset management companies/mutual funds/ETFs/etc, but for 70% of the job postings, and especially for the original referenced BlackRock post, it isn't just sales-related, it's PURE sales, 100%. I would know; I meet a new one every other week or so.
The role of a product specialist and their relationship to broker as described by one of our certified users.
from certified user @UFOinsider"
One of things my group does is "product specialist" type work: I walked in knowing nothing and they trained me. Some places want an experience hire, others will teach you everything. If it's entry level
One of the things you'll be doing is selling the brokers on investment products: they will promote what you show them. Your group sets up relationships with funds and you sell the brokers on the idea of selling them to their clients. These can be F/A's selling to individuals, or can be institutions: there's a LOT of variation from group to group and company to company. At smaller comanies, this is a function of brokers' ignorance, at large companies it's a function of how sophisticated they are: I'm at a MM and it's a mixed bag.
If you're good at what you do, you can spot an emerging trend and hopefully end up running your own group....it's good money for not that much work [I work 9-5 most days], but it's very beaurocratic in the sense that whatever you do your bosses will ultimately try to take over (my experience at least) and there is a lot of disclosure (see: CYA) involved: if a fund looses money, you don't want to be on the hook for it.
in my company, the product team helps develop the funds that are used by the PMs...they help set the guidelines that the fund is allowed to have, as well as the types of products inside it...its definitely worth taking a look at..youll be dealing with portfolio managers and compliance a lot, definitely a different view of how an AM works
Thanks for the input.
But what kind of skill sets are required for specialists? Do they need to know the market very well as PMs do?
I also heard that specialists are responsible for "products marketing?" Isn't it the job of client manager/ account manager?
If you're good at what you do, you can spot an emerging trend and hopefully end up running your own group....it's good money for not that much work [I work 9-5 most days], but it's very beaurocratic in the sense that whatever you do your bosses will ultimately try to take over (my experience at least) and there is a lot of disclosure (see: CYA) involved: if a fund looses money, you don't want to be on the hook for it. Trust me, brokers are not your friend, they will fuck you, do NOT trust them if it's not in writing Otherwise, these are pretty routine jobs. Some have you travel, others don't, and still other companies let you choose.
Exit options...I'm still working on that. I have yet to meet anyone else that does this type of work, but you will see A LOT of different funds / investment vehicles, and meet the reps that they send out to promote their shit, so who knows, maybe that's an exit op? I don't know, I'm staying put until grad school / promotion / termination.
Product specialist can mean A LOT of things...make sure you understand what you're getting into. DO NOT DO PRODUCT CONTROL, IT'S A DEAD END.
Sales people don't know that much about the product, just enough to sell it. These kinds of positions are called product specialists, client portfolio managers, or product managers variously at different shops. They generally want you to be as knowledgeable as the PM with better people skills and time to dedicate to speaking with clients. You can also do other things like work on product development and other related tasks. There are usually no two identical roles at different shops. In the case of BlackRock, I think they are mostly client service.
Any idea on exit ops? My goal is MBA, so I'm not too hung up on it, but I'm curious what you know. I'm being told investor relations, but I don't even know what that is...
You don't know what investor relations is? Go to any company's website.
I'm not really sure what the answer is to exit op. If you like what you're doing, I think product management is a perfectly fine end goal. Maybe doing a similar thing for a different shop or a different product. Maybe you don't like whatever insurance product and you prefer mutual funds or hedge funds or PE. The only other route to go is marketing (yuck) or sales.
your thoughts?
Very constructive ideas! BUMP!!
Bump this thread. Excellent!
just landed an internship as product specialist at a private AM boutique and have been wondering what possible exit routes there could be? I want to become a PM some day, and people tell me that doing Product Specialist is not the direct path. Your thoughts? Product specialist can lead to PM some day? any comments/thoughts are appreciated.
Bumpity bump bump. Product specialist role, the hybrid role that works with sales and fund managers.
Anyone have experience with this? Is it common to become an investment analyst later down the road? (maybe up to 5 years later if need be)
What are the typical skills required by an associate level product manager / specialist ( 3 - 5 years ) for a fixed Income fund ?
What are the typical skills required by an associate level product manager / specialist ( 3 - 5 years ) for a fixed Income fund ?
Proficient in speaking to the markets. This is a quasi research/sales & marketing role. Pretty solid gig. CFA should help you get looks
@Anna-Yang1: You're too early in the game to consider exit opps. All experience at this stage is relevant. Just take the internship and work from there.
Just wondering, does anyone know the compensation levels for a Product Specialist, especially compared to the more highly paid research division of the firm? Seems like many AMs don't even have this position so it's hard to find comps.
Associate 110 to 130 all in maybe
I'm looking for more information on these types of roles if anyone has insight. Looking to transition into product management or product marketing from sales
Wellington, Product Specialist (Originally Posted: 04/07/2013)
about to have an interview at this role, experienced hire. I am from a bb sell side ficc structuring. Anyone can share any information about them? (culture, interview/hiring process, dress, any particularity of their product specialist). Really appreciate any input on this
Did you get into your structuring role post-undergrad or post-mba?
be prepared for many rounds of onsite....
Hi Sean, are you based in HK? How did the interview go? I am going to meet them too on the same role. Just wonder if they really are looking to fill in the vacancy or just keep seeing candidates until one day they are happy to get one in.
Mind if leave your contact to me to have a quick chat?
Thanks.
asset allocation/Investment Strategy/Product Specialist roles in Private Banking or Institutional Asset Management (Originally Posted: 08/04/2013)
Spent five years prop trading at a family office and then spent a year in an emerging market startup where I was focused on client relations and business development (and yes we're funded (including angels at some very big name PE firms -- too small right now for their funds to invest in) and doing well and I have equity :P). Also I have experience with a wide range of asset classes via my personal portfolio -- structured products, etfs, high yield bonds, high income producing equities like BDCs MLPs REITs etc. I've always been super strong at with my interpersonal and relationship building skills so I've been looking to bridge these two worlds together...
Looking to lateral into a role in asset allocation/investment strategy/product specialist (equity or alternatives specifically) or even internal sales (wholesaler type gigs) in a private banking or institutional asset management division.
The names for these roles vary but here are some : JP Morgan Investor Associate, UBS Wealth Strategy Associate, HSBC Investment Counselor, BlackRock Associate Portfolio Manager, etc
Any suggestions or tips? Signed up for CAIA in September, CFA 1 in Dec and passed my 66 this past week (previously had my 7 but it has since lapsed and expired). Is my experience/background lacking to lateral into one of these roles? Anyone wanna hook me up? ;) lol
are you not going to bschool anymore?
im a slippery one like that lol
what make u change your mind?
Have you had luck with recruiters? I ask becuase I am an ER associate looking to make the transition to PB but more on the relationship management side. It appears that most of big PE/HF recruiters dont dabble too much in the PB/PWM world so I am looking for suggestions.
poking around as well haha
nice thread!
Very interested in these roles. Very little MBA recruiting for these types of jobs.
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