Investment Advisory Firm
I may be able to intern at a boutique investment advisory firm. What goes on at these firms? Are they similar to private wealth management? Or investment management? I am not exactly sure what this is. I tried googling and searching WSO but not much shows up.
To my knowledge, investment advisory firms just help people manage/invest their money.
What are the more well known / top tier investment advisory firms, if there are any?
From my understanding, it's PWM for (ultra) high net individuals. Check out registeredrep.com for more information.
Barron's also puts rankings on the independent advisors.
Thank you sir, banana for you. I don't think it has to be for ultra high net individuals though. Depends on the firm right?
Does anyone else have anything to add? Or any ideas on how the experience at a very small boutique investment advisory firm would compare with that of a PWM internship at UBS/MSSB?
In my view, a top-quality investment adviser complements client portfolios by providing asset allocation services, currency hedging, manager performance/style monitoring and research.They may manage client accounts on either a discretionary or a non-discretionary basis. Some even have their own funds and fund of funds.
In some cases, they specialize in certain areas such as quantitative strategies, alternative investments or foundations/endowments funds (that have a different investment policy due to lack of taxes and yearly cash disbursement to fund scholarships/museums or whatever).
Having said that, the term is very broad and it may refer to the typical PWM people managing retail money.
Has Anyone Bought an Investment Advisory Practice (or know someone who has)? (Originally Posted: 08/26/2013)
WSO:
As I make my return to our esteemed forums of finance, I unexpectedly stumbled up situation which my fellow chimps may be able to help me out with.
So here is the situation: my dad called me out of the blue today to say that he was on his way to a meeting which may ultimately lead to the acquisition of an independent investment advisor. He is currently a CFP who has over 20 years of industry experience both as a trader and an investment advisor.
I am currently a freshly minted 2nd year investment banking analyst who works in a full execution team; however, I don't have any experience working with FIG type deals. Basically, I'm looking to get in contact with a few people who have gone through an acquisition of this type.
If we decide to pursue this acquisition and are successful, the combination of my father's existing practice and the new practice could serve as a platform company which we use to roll up other regional players. If this were to occur, I would likely leave investment banking to focus on growing the family business. However, as this would be a significant decision, I would like to talk to as many people as possible beforehand who have had a remotely similar experience.
If any of you know of an individual who has made an acquisition of this type and are willing to put me in contact with him/her, I would very much appreciate it. General advice is also welcomed. Either way, thanks in advance.
Best, -Greg
PS: If any of you wish to respond via PM I will attempt to be diligent in checking them.
Sorry man, I don't have any experience with this specifically. I can talk to the guy who used to manage the 401k of our company. He recently just sold his practice. What I can say before you look into this you need to look at the company charter. Many people work for a company that get a percentage of assets under management by their advisers. This needs to be taken into advice when a valuation is researched.
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