Case question for RIA
Hi All,
I have a final round interview coming up with a small, but growing RIA for an entry level analyst position. I have been informed that there will be a "case question" in this round of the interview to see how I think through a problem. What kind of question can I expect?
you're way too broad. what kind of analyst, what kind of ria? is this pwm, fam office, etc? you gave absolutely no details.
This is PWM - small shop - currently just 3 people there. ~$250MM AUM.
At the EOD RIA's best interest to act solely as a fiduciary, so keep that in mind
only thing i can think of is going to be as mentioned previously, fiduciary/ethics, profiling/suitability, and accuracy/knowledge of investments/products. can't really be anything too tough as pwm is so basic. hop over to investopedia.com and skim through their series 7 and 66 (or 65 as 63 is redundant 7 info) and you will be absolutely set. other than that, be able to logically apply what you learn and you'll do great. small pwm shops are going to be mostly fit, do you look good/represent their office well (if clients come in and see a snot nosed punk or well groomed young man will matter than any amount of actual knowledge most likely). sb me if you think this is helpful or ask additional questions. i know that world pretty well.
They'll probably give you a situational question involving a hypothetical client. They may give you their Income, Asset Base, Family, Liquidity, Risk Profile, Unique Needs, etc... and ask you devise a recommended portfolio allocation.
They did neither of the above. They threw in a case question straight out of consulting with a finance twist.
Interesting, more of a how you think scenario? Do you feel you'll get the offer?
Yup exactly what it was. I think the case part went well up till the final bit where the interviewer said I was overthinking things - I should have just said calculate NPV then discount it rather than trying to walk him through the formula.
I think the interview went pretty well overall. I got along well with the Senior Analyst that I would be working with pretty well. The owner was a little harder to read - no emotion during the interview. I don't know if that's his general disposition though.
I would say a decent shot at making the next and final round of the interview, though you never know.
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