What is Product Specialist?

I just saw a local AM firm is hiring interns in my school for their Product Specialists team. I wonder what product specialists do in an AM? It seems to me that the role is more about client-facing/ sales work, while BlackRock puts their specialists team under PMG, not GCG:

"Product Specialists — provides essential services to both the portfolio management Group (PMG) and the Global Client Group (GCG), serving as the link between investment teams and account managers."

What exactly is this? What specialists do on daily basis?

Thanks

Asset Management: Product Specialist Job Description

Is this a technical role or purely sales?
from @RealSlim"

Product Specialist can mean many different things all across different asset management companies/mutual funds/ETFs/etc, but for 70% of the job postings, and especially for the original referenced BlackRock post, it isn't just sales-related, it's PURE sales, 100%. I would know; I meet a new one every other week or so.

The role of a product specialist and their relationship to broker as described by one of our certified users.
from certified user @UFOinsider"

One of things my group does is "product specialist" type work: I walked in knowing nothing and they trained me. Some places want an experience hire, others will teach you everything. If it's entry level

One of the things you'll be doing is selling the brokers on investment products: they will promote what you show them. Your group sets up relationships with funds and you sell the brokers on the idea of selling them to their clients. These can be F/A's selling to individuals, or can be institutions: there's a LOT of variation from group to group and company to company. At smaller comanies, this is a function of brokers' ignorance, at large companies it's a function of how sophisticated they are: I'm at a MM and it's a mixed bag.

If you're good at what you do, you can spot an emerging trend and hopefully end up running your own group....it's good money for not that much work [I work 9-5 most days], but it's very beaurocratic in the sense that whatever you do your bosses will ultimately try to take over (my experience at least) and there is a lot of disclosure (see: CYA) involved: if a fund looses money, you don't want to be on the hook for it.

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in my company, the product team helps develop the funds that are used by the PMs...they help set the guidelines that the fund is allowed to have, as well as the types of products inside it...its definitely worth taking a look at..youll be dealing with portfolio managers and compliance a lot, definitely a different view of how an AM works

I eat success for breakfast...with skim milk
 

Thanks for the input.

But what kind of skill sets are required for specialists? Do they need to know the market very well as PMs do?

I also heard that specialists are responsible for "products marketing?" Isn't it the job of client manager/ account manager?

 
FDDMonkey:
But what kind of skill sets are required for specialists? Do they need to know the market very well as PMs do?
One of things my group does is "product specialist" type work: I walked in knowing nothing and they trained me. Some places want an experience hire, others will teach you everything. If it's entry level, there's a good chance that you just have to not be retarded...if you're senior level, then yeah, you need to know your shit.
FDDMonkey:
I also heard that specialists are responsible for "products marketing?" Isn't it the job of client manager/ account manager?
Sort of...one of the things you'll be doing is selling the brokers on investment products: they will promote what you show them. Your group sets up relationships with funds and you sell the brokers on the idea of selling them to their clients. These can be F/A's selling to individuals, or can be institutions: there's a LOT of variation from group to group and company to company. At smaller comanies, this is a function of brokers' ignorance, at large companies it's a function of how sophisticated they are: I'm at a MM and it's a mixed bag. (you'd be shocked at how totally ignorant some F/A's are...or not?) Sometimes a product sells itself (mutual funds for example) and you're really just taking orders. You're indroducing brokers to new products, and sometimes the conversation goes like this, "I've got this guy and he's got $x to invest, what's the best fund for x% of his portfolio". Your group gets a piece of the action. Keep in mind that some firms will have your group competing against other groups (this sucks) and some firms have one group do all of the internal sales for a particular space (like my place).

If you're good at what you do, you can spot an emerging trend and hopefully end up running your own group....it's good money for not that much work [I work 9-5 most days], but it's very beaurocratic in the sense that whatever you do your bosses will ultimately try to take over (my experience at least) and there is a lot of disclosure (see: CYA) involved: if a fund looses money, you don't want to be on the hook for it. Trust me, brokers are not your friend, they will fuck you, do NOT trust them if it's not in writing Otherwise, these are pretty routine jobs. Some have you travel, others don't, and still other companies let you choose.

Exit options...I'm still working on that. I have yet to meet anyone else that does this type of work, but you will see A LOT of different funds / investment vehicles, and meet the reps that they send out to promote their shit, so who knows, maybe that's an exit op? I don't know, I'm staying put until grad school / promotion / termination.

Product specialist can mean A LOT of things...make sure you understand what you're getting into. DO NOT DO PRODUCT CONTROL, IT'S A DEAD END.

Get busy living
 

Sales people don't know that much about the product, just enough to sell it. These kinds of positions are called product specialists, client portfolio managers, or product managers variously at different shops. They generally want you to be as knowledgeable as the PM with better people skills and time to dedicate to speaking with clients. You can also do other things like work on product development and other related tasks. There are usually no two identical roles at different shops. In the case of BlackRock, I think they are mostly client service.

 
buybuybuy:
Sales people don't know that much about the product, just enough to sell it. These kinds of positions are called product specialists, client portfolio managers, or product managers variously at different shops. They generally want you to be as knowledgeable as the PM with better people skills and time to dedicate to speaking with clients. You can also do other things like work on product development and other related tasks. There are usually no two identical roles at different shops. In the case of BlackRock, I think they are mostly client service.
Yeah, client services can be a gateway into a better role (in my case it was) but can also be a trap. There's plenty of people answering moronic questions for 14 hours a day, especially at insurance companies like Pru/Met. Lateral out to another company if you get stuck in such a role...brokerages love the guys coming over from the providers b/c they know a shit ton about the products.

Any idea on exit ops? My goal is MBA, so I'm not too hung up on it, but I'm curious what you know. I'm being told investor relations, but I don't even know what that is...

Get busy living
 

You don't know what investor relations is? Go to any company's website.

I'm not really sure what the answer is to exit op. If you like what you're doing, I think product management is a perfectly fine end goal. Maybe doing a similar thing for a different shop or a different product. Maybe you don't like whatever insurance product and you prefer mutual funds or hedge funds or PE. The only other route to go is marketing (yuck) or sales.

 
buybuybuy:
You don't know what investor relations is? Go to any company's website.

I'm not really sure what the answer is to exit op. If you like what you're doing, I think product management is a perfectly fine end goal. Maybe doing a similar thing for a different shop or a different product. Maybe you don't like whatever insurance product and you prefer mutual funds or hedge funds or PE. The only other route to go is marketing (yuck) or sales.

Do you know how MBA programs look at this? I have some mobility for the next year or so and it's more important for me to position for grad school than cash in during the short term. If taking on more marketing / sales responsibility will look better I will do that, and if getting more in depth knowledge or ingraining myself further into the operational part of things looks better I will backtrack.

your thoughts?

Get busy living
 

just landed an internship as product specialist at a private AM boutique and have been wondering what possible exit routes there could be? I want to become a PM some day, and people tell me that doing Product Specialist is not the direct path. Your thoughts? Product specialist can lead to PM some day? any comments/thoughts are appreciated.

 

Bumpity bump bump. Product specialist role, the hybrid role that works with sales and fund managers.

Anyone have experience with this? Is it common to become an investment analyst later down the road? (maybe up to 5 years later if need be)

I'm on the pursuit of happiness and I know everything that shine ain't always gonna be gold. I'll be fine once I get it
 
Aje:

What are the typical skills required by an associate level product manager / specialist ( 3 - 5 years ) for a fixed Income fund ?

Proficient in speaking to the markets. This is a quasi research/sales & marketing role. Pretty solid gig. CFA should help you get looks

I'm on the pursuit of happiness and I know everything that shine ain't always gonna be gold. I'll be fine once I get it
 
bearcats:
be prepared for many rounds of onsite....
Thanks. This is expected, unless it's like more than 6~7 round. Does that mean after finishing all the interviews it will take a long long time for them to make a decision? Also, any other particular things I need to prepare for (like dress or talk), coz i saw ppl here say they quite conservative and anti-banking? Thanks!
 

Hi Sean, are you based in HK? How did the interview go? I am going to meet them too on the same role. Just wonder if they really are looking to fill in the vacancy or just keep seeing candidates until one day they are happy to get one in.

Mind if leave your contact to me to have a quick chat?

Thanks.

 

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