Comments (8)

Aug 6, 2009

I would think JPMorgan PWM is in the private bank- with ultra ultra high net worth clients, like the seriously rich... might be more analytical work than joining the army of brokers & trainees at MS SB and Merrill.

Merrill has historically had a strong FA focus with many senior execs rising through the FA ranks- like past CEOs Don Regan, Bill Shreyer and Dave Komansky

Aug 6, 2009

Avoid ML PWM internship at all cost. Stick to JP Morgan P-banking

Aug 6, 2009

JPM has an actual Analyst program, whereas Merrill just kinda throws you into the world with a brokerage model. They're very different businesses.

Aug 7, 2009

Does anyone know what the hiring outlook for PWM analysts (at JPM, GS, MS, UBS, Citi, etc.) is going to be like come this fall? Are the majority of these positions filled from SA?

Aug 7, 2009

at JPM/MS (not sure about BoA/ML), PWM caters to not high net worth, but ULTRA high net worth (i heard the minimum net worth is 20~30 million range...).

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Aug 9, 2009

Definitely the JPM program, like someone said above, they have an actual analyst program which makes your training much better. Also they are organized so that you aren't neccesarily working on an Investment Advisors team you may do more analytical work. I would imagine a lot more flexibility in terms of what you might want to do.

Does anyone have any idea what a BB PWM first year analyst would see in bonus. On these boards everyone refers to whatever your team brings in, but from my interviews across PWM it seems that most analysts are not in these teams and are actually doing more investment research, or strategy type work for the Wealth Division as a whole. Any insight would be great

Aug 10, 2009

At JPM, they are not looking for someone for their analyst position...but for someone to help build the business. The analyst positions are usually for someone out right out of school or a MBA grad. This position is to help build the biz(in the PWM group), which in Houston they aren't a major player but are trying to become one.

Merrill, I would be entering their training program(PMD, Practice Management Development Financial Advisor/Trainee). After interviewing, I can tell it is more of an FA role and not team based.

Aug 17, 2009