Q&A: Portfolio Strategist in a PWM Chief Investment Office
About
Started my career at a family office before launching a start up in an emerging markets and becoming an investment analyst for an ultra high net worth team at ) shop and equity strategist at asset manager. Never worked these 90 hour nonsense hours that so many seemingly want to sacrifice your soul to :) Ask me anything!
Thank you for doing this.
Why do clients choose you over your competitors?
What does a typical asset allocation look like?
How often do you close clients in the club?
Thank you.
1- it will come down a lot to the team that is working with the client, but in general I do think that sometimes people look to certain bank-linked wealth managers (JPM, BAML) to be able to leverage banking solutions and the balance sheet of the firm - this is why MS and GS have made moves to open 'retail' banking operations and become more competitive in this space with deposits like MS purchase of ETFC.
Others may want a globally oriented bank and lean into banks with that kind of scope.
2- varies greatly on client type and risk tolerance. A multigenerational family office looks different from an endowment and foundation which looks different from the retirement savings of a grandma.
3- never
Can you describe your startup's philosophy and how you came up with the idea and the execution to build and grow (as well as know people in the country)?
It was actually my former co-workers from trading not my own - I just came for the truffled polenta and wine ;)
Basically we all know that emerging markets have had a massive increase in consumption and growth of the middle class - trends are favorable for goods like wine.
Can you elaborate on your background, i.e. school, internships etc.?
Also wondering how you got the job in the family office, networked to get in or something else?
How does your average day look like, and what would you say a junior's work mostly consists of?
How useful is the CFA to break into the industry coming out of M&A?
Any general tips on breaking in from an M&A background?
Comp, average hours, any weekend work?
Nontarget, nothing fancy but I did a lot of trading competitions and the like to learn markets hands on. My knowledge about markets from my trading comps helped me win my way in.
Juniors don't exist on our team - past few teams I've been on the 'bottom tier' have been vice presidents in general . It ranges anywhere from market research to inquiries about investment strategies to more specific asks on requests for endowments and foundations.
Cfa definitely useful but you need to know how to apply it - tell me how to structure a private equity program, active vs passive, considerations for different kinds of clients etc. Your knowledge of markets and client facing ability > where ever you want to school.
Are you still in an emerging market?
Do you outsource to other managers or is everything in-house?
Day to day responsibilities?
Comp structure and ranges?
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