Boutique WM vs BB WM?
Is it better work at the WM arm of a BB or a boutique WM firm in NYC with ultra high net worth clients for a summer internship in your sophomore year?
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bump interested as well
define boutique
also, who's the clientele - individuals? institutional?
all else equal, I'd take a bigger firm, but PWM differs more team to team and by clientele than by firm
The headcount is 10 or so, the clients are ultra high net worth individuals or families, the seniors are pretty elite and were in senior level investment management roles at BBs. The firm primarily invests in other funds.
when you say other funds, not sure what you mean. mutual funds? ETFs? PE? HF?
I'd see where their alums went. if that looks promising, then the boutique sounds good because you could get your hands dirtier and do more interesting work, but absent a networking benefit, I'd be hesitant
also to be clear, I'd hope the BB is ML/MS/JPM/GS, not sure I would consider others for a PWM internship if you have a good boutique offer
The boutique PWM they invest in are usually HFs, ETFs, and Index funds. The boutique is new so I don't know where the alums are going but the juniors look pretty talented.
The BB PWM practice I'm talking about is UBS.
If the UBS team is highly ranked and you'll be doing interesting work, could be worthwhile, but the boutique sounds potentially better
rationale: UBS is on the decline in pwm
I thought UBS was well known for their PWN?
Unfortunately, I don't know if you can choose what team you want to be at for the UBS PWN internship.
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