"The Private Wealth Management (PWM) Group of Goldman Sachs develops and manages relationships with wealthy individuals and families, advising them on ways to build and protect their financial assets through equity, fixed income and alternative investments. Financial Investment Professionals (FIPs) provide support to Private Wealth Advisors (PWAs) in the implementation of new client accounts and ongoing portfolio analysis and servicing of existing clients.
Responsibilities:
- Conduct portfolio level analysis, including asset allocation, valuation analysis, and portfolio performance reviews, as well as prepare other client presentations
- Assist in the management (implementation and rebalancing) of client investment portfolios across global fixed income, equity, and alternative investments, including derivatives strategy and trading.
- Serve as a resource to multiple PWAs in supporting client relationships for the team
- Provide overview of client reporting and web capabilities to potential new clients
- Serve as key liaison to other areas supporting PWM clients including: operations, performance and compliance
- Lead or participate in cross-functional group projects to improve quality and efficiency within the team
- Execute equity, derivative, fixed income and fund trades
- Indicate clients' interest for syndicate deals
- Monitor equity and fixed income markets
- Assist on projects related to new business development, strategic planning, product development and other marketing infrastructure issues
- General client service"
Basically this role is a career path for those more interested in the analytical/quantitative side of PWM than day-to-day client facing responsibilities or building a book of business. This is a relatively new role and specific responsibilities are heavily dependent on which team you're placed with.
Looks like it's been a few since you posted last regarding this topic....
Has there been any recent developments regarding FIPs with regards to longer-term prospects, i.e. more of a career path on it's own vice a way of reaching the advisor role?
I don't work in PWM but know some people there. The FA/FIP are desk analysts supporting private bankers (PWA) on more technical things like financial analysis, trade execution and marketing, and they are NOT involved into admin stuff like account opening/ money transfer. FIPs start prospecting new clients after working a few years in the team, and will be promoted as PWA if things work out.
FIP normally refers to associate level while FA refers to analysts level. Their roles are quite similar, while FIPs are expected to have more communication with clients.
I don't work in PWM but know some people there. The FA/FIP are desk analysts supporting private bankers (PWA) on more technical things like financial analysis, trade execution and marketing, and they are NOT involved into admin stuff like account opening/ money transfer. FIPs start prospecting new clients after working a few years in the team, and will be promoted as PWA if things work out.
FIP normally refers to associate level while FA refers to analysts level. Their roles are quite similar, while FIPs are expected to have more communication with clients.
Minima ut expedita dolore deleniti eos et. Inventore dolor dolor consequatur omnis molestiae ad id dolores. Alias vero quo modi ipsum.
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I also want to know what FIP is. Thanks!
From a recent job posting:
"The Private Wealth Management (PWM) Group of Goldman Sachs develops and manages relationships with wealthy individuals and families, advising them on ways to build and protect their financial assets through equity, fixed income and alternative investments. Financial Investment Professionals (FIPs) provide support to Private Wealth Advisors (PWAs) in the implementation of new client accounts and ongoing portfolio analysis and servicing of existing clients.
Responsibilities: - Conduct portfolio level analysis, including asset allocation, valuation analysis, and portfolio performance reviews, as well as prepare other client presentations - Assist in the management (implementation and rebalancing) of client investment portfolios across global fixed income, equity, and alternative investments, including derivatives strategy and trading. - Serve as a resource to multiple PWAs in supporting client relationships for the team - Provide overview of client reporting and web capabilities to potential new clients - Serve as key liaison to other areas supporting PWM clients including: operations, performance and compliance - Lead or participate in cross-functional group projects to improve quality and efficiency within the team - Execute equity, derivative, fixed income and fund trades - Indicate clients' interest for syndicate deals - Monitor equity and fixed income markets - Assist on projects related to new business development, strategic planning, product development and other marketing infrastructure issues - General client service"
Basically this role is a career path for those more interested in the analytical/quantitative side of PWM than day-to-day client facing responsibilities or building a book of business. This is a relatively new role and specific responsibilities are heavily dependent on which team you're placed with.
Looks like it's been a few since you posted last regarding this topic....
Has there been any recent developments regarding FIPs with regards to longer-term prospects, i.e. more of a career path on it's own vice a way of reaching the advisor role?
Thanks.
I don't work in PWM but know some people there. The FA/FIP are desk analysts supporting private bankers (PWA) on more technical things like financial analysis, trade execution and marketing, and they are NOT involved into admin stuff like account opening/ money transfer. FIPs start prospecting new clients after working a few years in the team, and will be promoted as PWA if things work out.
FIP normally refers to associate level while FA refers to analysts level. Their roles are quite similar, while FIPs are expected to have more communication with clients.
Minima ut expedita dolore deleniti eos et. Inventore dolor dolor consequatur omnis molestiae ad id dolores. Alias vero quo modi ipsum.
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