Wealth Management Analyst at BB IB .... prospects and advice?
Hey guys, fairly new to this but I have enjoyed reading the content on this site recently.
Lots of talk about investment banks and investment banking, but very little talk as far as I can see about the wealth management divisions within the investment bank. Why is this?
Is this seen as inferior to other divisions, I realise it isn't as glamours as M&A or trading, but curious to know how it is viewed.
I start as a graduate analyst at a big investment bank in the wealth management division in the summer, any tips for how to make a good start??
Any comments and thoughts much appreciated!!!
Did a strategy role internship for a WM division at a bank so I guess I know a little about WM.
There are many roles within WM business but I'd assume your are a FA trainee since it's the most typical WM role.
From what I know-It's a very network-heavy business and kinda like sales. You get commission based on your AUM of your clients. Different banks have different training programs. Some put you with FAs that already have a book of business, some let you go on your own to build your network, some let you start within the digital adviser group for you to learn the business.
I think people don't talk about it often because the comps for this business varies a lot- you can make millions a year if you get a book of really big clients or you can be out of business in 3 years (which is true for a majority of the FA trainees) . It's like running your own business and they don't really share a lot of things in common.
That being said, many major IBs are shifting to WM because it's a stable revenue stream given the S&T revenue decline- MS current CEO is the former WM head, GS is also trying to focus on high-end WM clients.
In terms of how to make a good start I don't know cuz I never worked in the front line. I guess being humble and trying to pick up your own business asap would help you to succeed. Do realize there's a significant attrition for the new FAs because most of them fail to establish their own book of business.
Aliquid voluptatem dignissimos iste facilis impedit aspernatur ut. Voluptatem voluptatem quasi consequatur necessitatibus omnis rem minima at. Facere culpa et voluptates ducimus placeat.
Minus reiciendis quia rerum voluptatibus ea reiciendis enim nemo. Neque distinctio nostrum praesentium voluptas doloribus.
Enim cupiditate omnis nisi corrupti. Qui mollitia dolorem voluptatem. Nostrum consequatur dolorem ut et. Aut eveniet aut odio molestias quos sit ea. Ad illum delectus aut quia dolorem sint. Placeat illum mollitia id sequi illum consequatur consequatur occaecati.
Aut et aut voluptas nihil. Delectus debitis incidunt quam deserunt et recusandae impedit dignissimos. Quaerat amet debitis numquam nisi et repudiandae et ex. Debitis dolorem natus et quam quisquam qui. Cupiditate ipsa voluptas velit molestiae veniam voluptatum reiciendis. Nesciunt sunt veritatis consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...