Once and for all - Here is the best guidebook I can give you for <abbr title="private wealth management">PWM</abbr>/<abbr title="private banking">PB</abbr> at the Associate level. Enjoy and show me some love... 1.1 What is Private Wealth...
Ah, **Bill Gates**. Growing up, William Henry Gates III was the kid you loved to hate: With an IQ of 160, a today’s dollars-trust fund worth north of $20mm, AND politically connected parents, he was smarter than you, richer than you, and had a brighter future. <img...
I said in a previous post that I would try and write some more content in the future aimed at helping my younger self/newer analysts out. Bit of a quiet period before earnings start to pick up next month so here is something that I’ve created and use every time I research a new company from...
Monkeys, I haven't posted much on here, but I've been a lurker for some time and have been helped out by many of your posts. I now hope to return the favor and give some insight into the private bank/wealth management world with this AMA. Some background: I went to a target...
Long-term lurker here: I've been reading <abbr title="Wall Street Oasis">WSO</abbr> for a few years now, and found a lot of the advice on here invaluable when I was first exploring moving across to the buy side a few years ago. In the spirit of giving back, I thought...
A lot of recent startups are being built around wealth/portfolio management such as Robinhood, Stash, Acorns etc. However, most of these startups are apps targeted towards mass market. To the financial advisors/<abbr title="private wealth management">PWM</abbr> folk on...
Hi all, I've been a long time reader of <abbr title="Wall Street Oasis">WSO</abbr>, but rarely posted anything in the last couple of years. Thought I'd change that and give back to the community helped me out in the past. So here's my story (I'll...
Hey guys, I had an interview this last week with a local <abbr title="asset management">AM</abbr> shop about an internship for next summer, and they told me to come back and meet with the CEO. Does this mean I have a pretty good chance of getting an internship? Sorry if...
Does anyone have any questions/insight into the Hirevue questions for JPMorgan Chase <abbr title="summer analyst intern">SA</abbr> 2019 Asset Management in NYC? I'm assuming its behavior, but since this is my first hirevue-no clue. Also, is this a first round or still...
<h4>About Me</h4> <li>Working as an Analyst in Product Strategy (intersection between Portfolio Management and Sales) with focus on two multi-asset portfolio groups: Income and Model Portfolios (built from ETFs)</li> <li>Previously interned at a Bulge Bracket...
I haven't seen any posts on this anywhere so thought I would give it an ask. With the rising popularity of <abbr title="exchange traded fund">ETFs</abbr> etc and money moving away from active investing, there is obviously less career opportunities in active...
I would like to go into asset/investment management. When I was in high school I used a racial slur on social media and screenshots were posted on a major publication. I've learned a lot since then and hope to move past it. Since then I have changed my last name. Do you think I can...
####In The Money <img src="/files/styles/w800/public/inline/images/tesla_cash_flow.jpg?itok=gMES0cc3" alt="" /> *Cash is King - origin unclear, but said after the ‘87 market crash by Pehr G. Gyllenhammar, CEO of Volvo (Fate Loves Irony)* I wasn’t planning on...
I've had a lot of ups and downs in the industry as an IAR for the the past 6 years. I'm currently at Fidelity, but I started out at a small Investment Advisory firm. Ask me anything..
It seems after searching on the forums, <abbr title="private wealth management">PWM</abbr> (private wealth management) has been thrown around a lot and used for the term of regular wealth management - Financial Advisor, financial advising. Where you start up an account at...
I jut got a first round for Fidelity’s Investment Research Associate Internship for Summer 2019 and was wondering what questions to expect/tips for the interview. Any help is appreciated, thanks.
Hi <abbr title="Wall Street Oasis">WSO</abbr>, I've recently been in talks with an Asset Manager who has brought me in numerous times to help me get a better idea of what the day-to-day is like. I reached out to a school alumni that works there (Portfolio Manager)...
Hi all, If anybody hears back from the team, please let me know! And does anybody have an idea like how long it takes to hear back from them? Thanks!
Hi all - I’m looking for advice about how to most gracefully quit my job. I tried searching but couldn’t find anything specific to asset management, which seems like a different dynamic than banking. If something is out there, please point me in the right direction. So, I’m a buyside...
Hi guys, Hoping to discuss buy-side comp in Canada, would be curious to hear everyone's opinions/personal experience. I spent a few years in retail banking prior to starting as a first year analyst at a boutique firm. My base was 75k + bonus with no set % target. Since, I have...
The way I see it, <abbr title="private equity">PE</abbr> is very long-term-focused investing, whereas a lot of hedge funds are not that long-term focused, with many not abiding strictly by value-investing and the like. Mutual funds, on the other hand, are relatively low...
Goodmorning, I'm hoping I can get some advice about my career path. I'm currently 20 years old, graduating from Colorado State University - Fort Collins with a Bachelor of Science in Business Administration Dual Concentration in Finance - Investment Analysis and Real Estate....
Haven't seen anyone start this discussion. Does anyone know about this? What's the thread? I applied a while ago but haven't even heard about first rounds yet. Has anyone heard back?
I'm wondering what a Mutual Funds Administrator does and what the dynamic with who they work with entails. Thank you in advance!
What's up everyone? I haven't really posted on this site, but have utilized it significantly over the years as I tried to decide which career path to follow. I have wanted to go into Investment Banking since I was a Sophomore, but came from a Non-Target school which limited me greatly....
Asset Management Guru
First time doing an AMA - Looking to add value to any more junior level peers who are looking for a mentor! Don't be shy, ask away! I am live!
Got blindsided by a surprise superday in 2 days with a fixed income fund...feel like this is a very important question thats bound to be asked, was hoping you guys could critique my initial thoughts and/or offer potential insight...really just want to make sure im even on the right path with...
Hi guys! Just thought I’d ask your honest opinion on being able to transition roles within asset management. I’m a HNW broker with four securities licenses(FINRA 6,7,63, & 65) and four+ years in the industry servicing retail and RIA clients of a respected and successful midwestern...
Waiting to hear back, wondering if they send out rejections too. Hoping to get some insight on process
hey guys, I'm finding myself too busy in the day job to really manage investments. What are you guys investing in as a means of preserving but growing cash? I tend to buy distressed real estate when I can find it. But most of the time I'm sitting in cash, and don't know...
I have two offers for an internship opportunity and I am having a little trouble deciding which route to pursue. I have an offer from a highly acquisitive media company in <abbr title="New York City">NYC</abbr> where I would be working as a corporate development role. I...
I have a Wealth Managment Super-Day scheduled for this Friday after only doing HireVue, It's going to consist of a lunch and 5-30 minute interviews. What should I be focused on for preparation/does anyone have any personal insight they can share as to what I should expect? I'll be...
Does anyone have any recent insight into Brandes compared to similar firms? I've searched the forums but most of the discussion is rather old. How do they treat their research associates/analysts, etc? Any tips on what they like to see in candidates? Thanks.
Was hoping I can get some insight. Does anyone have an experience or know of anyone who worked for an insurance firm and did equity research/credit research for them? Are exit ops to a credit hedge fund/equity fund realistic after some time? Have an interview for a credit research role at an...
I am an accounting major and will graduate next year. I am planning on getting a Masters of Finance. I was wondering what is the best way to get into Asset Management?
Does anybody have any familiarity with Rockefeller Capital Management/summer internships in their <abbr title="asset management">AM</abbr> division? I know they are run by Greg Fleming from MS/<abbr title="Bank of America Merrill Lynch">BAML</abbr>,...
Good Evening All, I’m looking for research papers that combine multi factor portfolios of individual asset classes and combines them into a single portfolio. (Equities, government bonds, high yield, commodities, currencies) For context, I’m personally doing research on the topic and...
Hi All, I am on a rotational analyst programme at a <abbr title="bulge bracket">BB</abbr>, and I need to choose my next rotation. Would market risk or distressed debt restructuring help me more if the goal is breaking into AM? Thanks!
Sat for level 2 yesterday first time taker. Didn’t realize how stressed out the whole experience made me until last night after it was over. Told myself if I don’t pass I probably won’t retake. Let’s be real the way they ask questions on that exam is 100% retarded. I can just picture...
Recently received an invite to got to Boston and interview for an investment reporting analyst role. Seems like a good entry into the asset management/fixed income world and would be a great opportunity. Do a yea/two and move into a better role or leave for a better role. Anyways, I live in...
Hi gang, Im curious if you guys can give me color on BX's fairly new Blackstone Insurance Solutions group. I can't find anything online as to real, useful info on the group as to what they do exactly(other than creating investments for insurers through the <abbr...
I have an opportunity to interview for the aforementioned position, the job sounds to be more on the operational side than I would prefer and is technically a Trade Support role, nevertheless one gets to work alongside some of the best portfolio managers in fixed income and likely can learn a...
I'm looking for some help thinking through a career move. I'm a quant strategist at a hedge fund in <abbr title="New York City">NYC</abbr> and I have an offer to move to a similar but somewhat more senior role at a top tier asset manager in Boston. I have 8...
Hi everyone, Did anyone who was at the Blackrock superday on 11/2 last Friday hear back yet? If so, what division were you applying for? Still waiting but it has already been a week so was wondering what other people have heard.
Fairly specific question. What comp package should be expected for a Research Analyst at a large, well regarded, asset manager in Boston? I’ve spent a few hours reading through all the posts and salary reports on this topic and I am seeing a very wide range, and most of the info is at...
I'm still a bit new to the industry so I'm trying to understand which places are the ones with the most cache, which allow you to have most options when you leave. Let's take funds with some of the biggest AUMs like Vanguard, Wellington, Fidelity, or sovereign wealth funds like...
"This is my final out-of-office message. I will withdraw from [major asset manager] on June 28. No longer will I rise before dawn to read overnight tweets, five newspapers and 600 emails on the European dysfunction du jour in order to be ready for the daily 30 minutes of actual stock...
Hey guys, what's the biggest difference in working at a sell-side <abbr title="equity research">ER</abbr> (working at global investment banks) vs. buy-side <abbr title="equity research">ER</abbr> (research associate at large <abbr...
Guys, I am trying to understand how people on the buy side (and especially long only) justify any new positions when multiples are all-time highs. 1) Do you just look at multiples relative to the S&P500 Index and the overall space? or do the absolute multiples scare you? 2) In my space...
For those working in PWM: How are client's risk tolerance and goals translated into a portfolio? Is market risk a consideration in the portfolio construction process?
Bloomberg has some insane capabilities, not all of which are widely known. Maybe that's just because I'm new into my buy-side role (Fixed Income). My favorite function: "SPLC" ...shows you a company's entire supply chain (vendors / customers / recommended comps),...
So I am a few months from graduating college for a bachelor in accounting. I am planning on opening my own unaffiliated investment advisory practice, I have about $70,000 all ready to go to help start the business that I raised through my family and my own savings, already passed the series 65...
I’ve been lurking on this forum for awhile and noticed that there’s been a lack of major superdays for wealth management discussed, while most other positions like audit or financial analyst are already done thier recruiting seasons. I’ve applied for wealth management basically at every...
Hi all, I'm interested in working at WCM Investment Management (Laguna Beach) as an intern or full-time. Can anyone provide any information about the following: Work culture Hours Pay rate Typical day as an analyst at this firm Thank you all in advance.
Hey guys, I'm currently a college sophomore (going into sophomore year) and i'm finishing up my internship at a <abbr title="real estate investment trust">REIT</abbr>. My end goal is to end up in <abbr title="asset management">AM</abbr> and...
I had a superday for BlackRock FMA New York on October 18th and have not heard yet. The recruiter said they'll let us know within 2 weeks but I'm assuming thats just so they have time to give more offers if someone declines. I talked to a first year analyst and they said they received...
I'm at a bit of a crossroads in my career. I'm still at Fidelity as an FA, I turned down a job at State Street that was irrelevant to my higher aspirations, but now I'm not sure on what to do. I want to work in Asset Management and be more hands on with the funds of these...
I'm about a year out from the end of my military contract. I went in to become a pilot, ended up coming out as a supply officer and am now ready to get out so I can have at least a bit more of a stable life with my wife. She's doing her post doc at UNC, and outside of me getting...
Wondering about 1st year Research associate comp at asset managers - this forum isn't very active, and all the estimates I've seen seem to be around 70k salary +10k bonus from like 2-3+ years ago. Are there any updated data points? Just to throw my hat in the ring, I have an offer...
I currently work in the research side of a leading investment consultant (have been there for a little over 3 years) for endowments, foundations, private clients, and pensions, essentially helping formulate investment strategies for clients. Very top down, macro level stuff. I just passed L3 of...
I had a <abbr title="private wealth management">PWM</abbr> internship at a top bank and it seems as if there is little to no finance involved. The advisor really only research which investment managers to use. Is this how it is in all <abbr title="private...
I'm a guy who's just graduated from the Uni of Nottingham with a 2:1. Missed a 1st by 0.06% because I was busy doing over 100 graduate and internship applications and ending up with sh*t all. It's almost the middle of summer and the internships for summer or starting in September...
Asset Management Guru
Good day everyone! Thank you for taking the time to read this. I am looking to get better at Argus. I think taking repetitions on step by step case studies building out Argus models would really help me. Do you guys know of any youtube videos, or links that could walk me through building an...
Hi guys, First of all thank you for all the topics, detailed and interesting answers you provide. Today I was asking myself a question and rather consider my possibilities for my future. To be direct: I want to continue my career in <abbr title="asset...
I'm currently a rising sophomore in a semi-target school and I'm applying for my sophomore internship next year. I'm still confused about what career path to take- WM, <abbr title="investment banking">IB</abbr> or ST? Someone recommended that a WM internship...
Has anyone heard back/applied for this position? The original deadline was Oct 20 and campus recruiting sent out an email saying I'd heard back no more than 4 weeks after the deadline. I just looked at the app again and it now says "early process deadline Oct 20" and...
Does anyone know what a typical compensation structure is for a new financial advisor who is not bringing a book with them? Typical grid rates for rookies, typical base salaries, whether a more seasoned FA at the firm sponsors you and takes a cut from your production (if so, how much, for how...
Hi everyone, I'm a sophomore studying at a West Coast target, and I'm in the interview process for Dallas IMD. After finishing my hirevue around 2 weeks ago, I got an invitation for an IMD superday for this upcoming Tuesday. However, the recruiter told me that the superday will be...
I’m stuck in a dilemma where I recently joined this new small asset management group that is toxic from all sides. My boss came from a hedge fund and likes to go after me for things I did at my old job. He’s constantly asking what I’m doing and gets angry when I do something after he told...
I was wondering what general thoughts are about differences in <abbr title="asset management">AM</abbr> firm size and what this means for a junior employee. Specifically, what are some of the pros/cons of starting a career at a large <abbr title="asset...
Hey everyone, Quick question. In your <abbr title="asset management">AM</abbr> internships, did you guys get to learn the Bloomberg terminal, or not really? Thanks in advance.
What would you rather chose as a summer internship? <abbr title="JP Morgan">JPM</abbr> <abbr title="asset management">AM</abbr> Portfolio Management vs. Blackrock Finacial Market Advisory (FMA)?
I just passed the SIE, Series 7 top off, Series 66 and my group one insurance for TX. I'm not sure if anyone else on here is taking or will have to take these, but if you have any questions on what they are like or how to prepare then ask away. Anyone who has taken them feel free to chime...
Hey folks, I have a fixed income <abbr title="summer analyst intern">SA</abbr> phone interview with a top-5 <abbr title="asset management">AM</abbr> (think Fidelity, PIMCO, BlackRock, etc.) coming up soon. My question is how would I go about...
Looking at a couple of internships with one of them being at Morgan Stanley; another at a local firm. Should I prep and take the Series 65 or SIE exam first? Also, I will begin preparation for the <abbr title="Chartered Financial Analyst">CFA</abbr> once I am qualified to...
Going to do a summer internship @ E&Y in 2019. Looking for short term place to live. Any tips? Sub lease .Would like to be as close to downtown as possible.
I know there is a lot of material regarding this on <abbr title="Wall Street Oasis">WSO</abbr> but wanted to ask a question that is specific to my situation. I am currently a risk analyst on a commodity trading desk and I recently left a boutique <abbr...
For the last two years, I've been working at an Asset Management firm in a highly general, "cross asset" analyst position on the EM investment team. My prior background was working as a researcher at the federal reserve on macro/banking/asset pricing research, and then doing a...
Hey monkeys, so my dream is typical- I want to be a global macro growth portfolio manager. I NEED SOME INSIGHT IN HOW I CAN BREAK INTO ASSET MANAGEMENT/EQUITY RESEARCH FROM A NONTARGET. so I used to go to a semi target BYU. I got good grades there, but not good enough to get into BYU's...
Hi guys I am finishing my MSc in Finance this year, with an internship in <abbr title="mergers and acquisitions">M&A</abbr> at a top bank. I am looking for an experience in <abbr title="private wealth management">PWM</abbr>, but being honest I...
Hi guys, I recently interviewed for <abbr title="Goldman Sachs">GS</abbr> IMD <abbr title="summer analyst intern">SA</abbr> 2019 through hirevue 2 weeks ago and I havent received any responses. I applied for the LA office. Does anyone know...
Hi everyone, I'm currently preparing for asset management interviews and I stumbled upon this question. Does any of you have an idea of how time could have a negative impact on value investors? Also, do you think value investing is about going against the crowd and buying what nobody...
Hi everyone, i recently done hirevue interview with JPMORGAN for their investment2020 traineeship asset management division. im thru to telephone interviews, what kind of questions should i expect? cheers!!
I'm trying to interview for credit analyst positions on either the sell side or buy side, and I'd like to bolster my knowledge of the credit markets. Any and all credit books are appreciated; I'm just unsure of where to start.
So I received a pre-MBA offer to intern at a <abbr title="high yield">HY</abbr> muni fund. Most of the fund's holdings are in hospitals, highways, charter schools, etc. My understanding is that some of their holdings are issued by private enterprises, which would...
Can someone give me some color on comp, hours, culture? I am interviewing with them and want some more background info. Thanks.
Hi Monkeys, I can't tell you guys how much I've learned from everyone. I wanted to reach out to see if anyone could prove some suggestion on my career path choice. My background is a postgraduate in <abbr title="Hong Kong">HK</abbr> and now receives one offer...
Is it risky for a college undergrad to go into <abbr title="private wealth management">PWM</abbr> or <abbr title="private banking">PB</abbr> with robots and passive investing taking center stage? If someone is interested in <abbr...
I'm currently at a buyside shop (bank) focused on broadly syndicated loans and looking to make a move to either a bigger shop with more career upside (a scalable CLO platform) or a more opportunistic credit platform (MM/BDC, junior debt, stressed/distressed) . I have had reasonable...
I'm starting soon and wanted to know what I could do to sharpen my skills besides working on Excel and whatnot.
Hi all, I currently have an offer from <abbr title="Goldman Sachs">GS</abbr> <abbr title="private wealth management">PWM</abbr>, and an interview coming up for <abbr title="Bank of America Merrill Lynch">BAML</abbr> Global...
I am young and unexperienced, so I want to learn from you guys. I am starting at a big Asset Management firm (Equities) and I am eager and want to continue to develop. I am planning to do my <abbr title="Chartered Financial Analysts">CFAs</abbr>, but what then? What is my...
Should sophomores in asset management look for an internship in a hedge fund? Should sophomores just try to get an internship through family or friends to set them up for their junior year? Anyone have advice?
Bit of context: I'm in fixed income manager research and I've got a decent-ish grasp of the markets but where I want to build knowledge is within individual security analysis (plan is to eventually go buy-side as an analyst) I'm curious as to what models are used to value a...
Hi guys, I might need to move to Boston due to a disease that my 6 month old has (still no confirmed diagnosis). I am from Latam, and was wondering if anyone had been in the same situation, looking for a job near the Boston area as a non-english native. I have +7 years in WM (product...
Hey guys, What's your opinion on the role below for someone trying to break into AM? It's an entry level position but sounds more like a pure <abbr title="private wealth management">PWM</abbr> role. Can this be useful for future career prospects combined with a...
Hi looking for some advice on an interview ill be having tomorrow. I have modelled an answer as below points if anyone can add/comment please
I'll have a test for a PM role at a local retail bank next week. It's mostly about managing the pension funds + some mutual funds and individual portfolios, also the position is related to equities only. I assume the questions would be similar to <abbr title="Chartered...
This is for anyone that comes from a mixed background like myself and is looking to break into AM. This is also me asking for any insight from anyone who was in my shoes that has been successful in their transition into AM. Up until this year, I've been a Nat Gas FP&A Analyst, a R...
I am deciding between two internship offers with upcoming expirations. My career goal is to eventually move into Buy-Side Asset Management. 1st Offer: Investment Research Intern for Wealth Management The company outsources most of its investment research and investment decisions to...