Goldman Sachs PWM

Question

Just got an email out of the blue asking if I wanted to interview for a PWM position on Dallas (not quite equities, but...) Couple of questions:
1. How has Goldman's PWM business grown lately? A lot of the "rank these firms!" threads I've dug up via search tell me conflicting things. 2007-era threads tell me GS/MS are tops. Later on I hear UBS/CS are becoming elite, and then I hear JPM is the only place to be. Help? Not concerned about "prestige" as much as the level of company support and AUM.
1b. For that matter, what is the PWM equivalent term of "AUM"? Wealth under management / WUM?
2.

shorttheworld · Accepted Answer

Goldman Private Wealth Structure (Originally Posted: 09/26/2012)

So I obviously know that there are the Private Wealth Advisors who handle the UHNW/HNW money but also included in the groups are the wealth management professionals and the financial investment professionals.

From people I've talked to I've heard the WMPs are more so the people who deal with the client facing roles and client onboarding (grooming for PWA eventually) while the FIPs work on the investment strategy/allocation/port optimization/trade execution type roles for the groups while also doing some more 'middle officey' ty

Trad3r · Answer

Wish I saw this earlier since a lot of your posts have been very helpful to my career decisions.

I worked as an intern in a regional GS PWM office in 2012.

I couldn't see those specific links you asked about but your description of the roles is spot on. The thing about FIPs is that they tend to interact with clients as well and stay on top of the markets more than the PWAs to answer client questions on the fly. They try to avoid the analyst related work such as putting together pitch books and booking a conference room for a client meeting.

SirTradesaLot · Answer

ct bankerSirTradesaLotI have seen it done before from PWM analysts.  I couldn't give you an exact percentage though.  When you say PWM, would you be on a sales team or one of the groups surrounding it (like trust and estate or portfolio strategy)?

It would be for a regional office sales team. Im guessing trying to lateral after a few years into another Goldman Sachs AM group might make more sense before trying to get into an top B-school?
I don't know exactly how these people did it, I just know they did it.

SirTradesaLot · Answer

ct bankerSirTradesaLotct bankerSirTradesaLotI have seen it done before from PWM analysts.  I couldn't give you an exact percentage though.  When you say PWM, would you be on a sales team or one of the groups surrounding it (like trust and estate or portfolio strategy)?

It would be for a regional office sales team. Im guessing trying to lateral after a few years into another Goldman Sachs AM group might make more sense before trying to get into an top B-school?
I don't know exactly how these people did it, I just know they did it.

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Goldman Sachs PWM

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