Another cold call job for me?
Gurus,
I have been getting internship for doing cold call recently. Am I only good for cold calling? I have been randomly shooting emails to everywhere asking for an internship. Today, a MD in the Private Wealth Group called me and he asked if I were interested in this internship. Through the phone, he said that I would be cold calling wealthy people and then pass along the contacts to him afterward. This firm is called Laidlaw Investment. I did some search on this forum, and some people said that the firm is bad, etc. I'm a career switcher (and in business school now) and I want to break into trading. But, having nothing on my resume related to finance and haven't found a full time internship this summer, do you think I should this internship? He said I can work part-time every Friday for now until end of May. By then, I can decide (or maybe he decides) whether I want (or can) stay for the entire summer.
Please let me know what you think about this.
So, cold calling part of a job in PWM? Don't they need to manage the portfolio for the clients?
if it walks like a duck...
(don't do it--and yes, cold calling is a huge part of PWM at the lower levels)
Laidlaw is a shady place, good for experience but not for FT. I would go elsewhere if you could
Thanks for the heads up. I just need experience on my resume. Basically, I will be just working for this MD, but I don't know what I can learn from this internship besides cold calling. I have never done cold call before. I'm still thinking about if I should take it or not (That MD said he will pay me.) I turned down a cold-calling unpaid internship a week ago at a shady brokerage firm in New York.
Don't mean to steel the thread but I am in a similar situation. I have had a good deal of phone screens and phone/ interviews for mostly boutiques and one BB and I have not gotten any offers siting a lack of accounting skills at basically every one. With no prior finance experience, would it be smarter to accept an offer with a no name PWM and only cold call for the summer or catch up on an accounting course or two and study for CFA level one? Also, any other suggestions would be welcome.
A crappy PWM internship is still better than nothing. If you can suck it up and get a good reference that will be much more beneficial than taking an extra class over the summer. That being said, you should try and find something better if possible. I'm guessing your B School doesn't have the best name if you are cold calling for PWM internships so you have to take what you can get. If you have a summer of cold calling under your belt recruiters won't be able to doubt your drive or tolerance for grunt work at the very least.
Yea I guess your right. I am not very familiar with the PWM business, is it really cold calling every minute of the day for an intern? This is a very small place located in the suburbs I cannot imagine they could even locate that many people worth calling. I would be interested in knowing what the PWM internship might be like if anyone has any experience.
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