private wealth management

Just thought I would start a thread to compile a list of finance-related internships (PWM, IB, PE, HF) for first years in college. I understand that these opportunities are slim and elusive.. hence the thread. Harvey & Co- Newport Beach, CA Merrill Ly ...

43 comments - 7 silver bananas - Dec 25 2017 - 9:51pm - gangstabanka

So it has been clear to me that algorithms will eventually be capable of doing everything that a traditional wealth manager is. Given this trend, I, rising junior, am a bit worried about being able to even have a job in the industry, and am even consideri ...

90 comments - 5 silver bananas - Jul 16 2016 - 2:00pm - Fintechiscomming

I've come to the conclusion NYC is not for me. More power to all of you whose dream is working on the street, it's just not for me. Cost of living is too high. Hours are too long. Taxes are too high. Where in the country is the best balance betw ...

152 comments - 1 silver bananas - Feb 26 2017 - 10:06pm - thomas1282

Why is PWM generally looked down on? Is it because of something palpable like lower salaries or is it just for no reason? What is the genesis of this phenomenon? Thank you. BB PWM asset management private wealth management ...

131 comments - 1 silver bananas - Mar 6 2017 - 12:47pm - WallStMozart

Hey guys, Andy had asked me a while ago to do a blog on PWM, so I figured I'd give it a whirl despite this forum being mostly interested in IB. Most of my partners are out of town so the workload this week is particularly light and I'm not going ...

60 comments - 21 silver bananas - Jul 24 2014 - 10:18am - thebrofessor

Hey guys, got quite a few questions on breaking into PWM, so this blog will focus exclusively on breaking in, being successful, and exit opps. If you haven't read my first post, see the link below: Part 1: Past, Present, Future, and $$$ Next post wil ...

45 comments - 16 silver bananas - Jul 24 2014 - 10:18am - thebrofessor

I am currently a 1st year at a large retail Asset Management company that is a household name and I would like to try to break into a sales career at a BB (or good mid-tier firm) in either the Institutional Sales or PWM (non retail) and I do not know how ...

25 comments - 0 silver bananas - Mar 21 2017 - 8:40pm - datguy345

Greetings, I just accepted a position for a back office front office. I know that making this switch is a seriously daunting task, and many fail at getting it done. Does anyone have any tips or insight as to how I can make this happen? I'm willing to ...

14 comments - 0 silver bananas - Jun 25 2016 - 5:23pm - BIG_SEAN

Read this in the new york times. Show looks good. Really captures the hustle of PWM What "Ballers" Gets About Football and Money HBO's "Ballers" has been compared repeatedly to "Entourage," but amid its (many) scenes of ...

18 comments - 0 silver bananas - Jun 30 2015 - 7:54pm - datguy345

Hello WSO community, long time lurker but first time poster. I am looking to move into equity research from my current role at a large private bank. A little about myself: went to a non-target undergrad, low GPA, and spent a few years hopping round back o ...

18 comments - 1 silver bananas - Oct 18 2014 - 12:06pm - green_tea

Hi everyone. I was wondering if anyone could provide some insight into whether one could get into a top MBA program out of Citi's Private Banking Analyst program. It's a 2-year rotational program after which you're matched with a team (I be ...

15 comments - 0 silver bananas - Feb 24 2016 - 5:09pm - purple_diamonds

On the Goldman Sachs website these two job descriptions seem quite similar. Could anyone provide some insight as to the differences between these two positions i.e. daily duties and responsibilities. Ideally would love to hear from someone who worked at G ...

16 comments - 0 silver bananas - Jan 15 2015 - 7:26pm - ScienceMan

Hi all! I am new to this forum so thank you for listening to my personal career issues. Hopefully someone else has been in my position and can provide some insight. Background: I graduated summa cum laude with a finance degree and a minor in entrepreneurs ...

12 comments - 0 silver bananas - Jun 12 2015 - 11:26am - Dingus_supremo

Hey Everyone, I am new to the site and this is my first post so I apologize if this post should be in another forum. Anyways, I just graduated college and will be starting my job as an analyst in the Investments division of a PWM firm. I interned there la ...

11 comments - 1 silver bananas - Jun 1 2015 - 6:41pm - pcsb23

Hi everyone, I came across these articles (although they are a bit dated) and I wanted to hear what everyone else had to say about them. Is this really the fastest growing sector within finance? I'm not sure what is so unique about these firms, can a ...

10 comments - 0 silver bananas - Sep 15 2014 - 5:05am - ScienceMan

So I have a interview coming up for PWM at a BB and I would like to know how technical the interview questions will get. From what I understand, PWM mostly focuses on fit questions and less on technical, but I am still unsure on what to prepare for. Any i ...

6 comments - 1 silver bananas - Aug 24 2017 - 11:57pm - YoungMonkey55

I have an interview for a BB in their PWM business for a portfolio construction analyst role. It's entry level for a team within the division. Won't be part of an advising team, but an internal team that helps advisers with asset allocation, qua ...

7 comments - 0 silver bananas - Apr 8 2016 - 11:26am - georgebest

Monkeys, I haven't posted much on here, but I've been a lurker for some time and have been helped out by many of your posts. I now hope to return the favor and give some insight into the private bank/wealth management world with this AMA. Some b ...

4 comments - 8 silver bananas - Apr 9 2019 - 5:00pm - MileHighMonkey

Can anybody direct me towards any good threads on here or outside sources on PWM & PB career paths and other general information and discussions? I've read alot of threads on here but the information seems pretty limited since its mostly IB on he ...

7 comments - 0 silver bananas - Aug 23 2014 - 12:58pm - Jacob939

Hey guys, I will be a college freshmen in the fall but I've already networked with some people and have some opportunities to Intern during the fall or spring semesters. It would potentially be with MS or UBS in PWM. I was just wondering if given the ...

5 comments - 1 silver bananas - Feb 22 2018 - 10:37am - Dkdkskdkkdjsjs

Anyone know around how much someone at a top PWM and IM firm make around mid way through their career. investment management private wealth management asset management AM PWM im Salaries compensation ...

4 comments - 1 silver bananas - May 11 2018 - 8:17am - Adriano.baratta1234

I was wondering if anyone knew what jobs outside IB looked like in Canada. Toronto overall has less of a finance scene than NY so I had a few questions. 1- What finance related job do most people go into besides banking in Canada? 2- What's PE, HF, P ...

4 comments - 1 silver bananas - Feb 6 2018 - 12:28pm - bakerbanker

I'm attending a small school in Virginia, Regent University. I am strongly interested in finance (namely investment management) and was wondering if anyone knows of any firms in the area where I could obtain an internship. I will only be a freshman i ...

5 comments - 0 silver bananas - Jul 8 2015 - 12:59pm - Roknrisner

Hi, this is probably a stupid question, but what happens if your broker goes bankrupt? Assume you were rich (I'm not) and you wanted to invest some of your wealth into somthing very save, say, inflation-protected government debt. I know there are mut ...

5 comments - 0 silver bananas - Jun 3 2014 - 5:22am - UK2013plus

Background: Currently an associate at a smaller MM PE firm in the midwest, still have a year or two before I apply for business school. My firm has a track record of bringing back associates post-MBA to move up as VPs/Principals, which is a real possibili ...

4 comments - 0 silver bananas - Aug 11 2016 - 8:55am - bullseye2016

Hello world, I am a junior at a non-target school and am having trouble deciding where to intern this summer. I have an offer from a boutique Fixed Income Sales and Trading firm, and am waiting to hear back from final round interviews at Morgan Stanley an ...

4 comments - 0 silver bananas - Jan 30 2015 - 2:24pm - E.BIT.DA

So next week I will be meeting with the Head Director at a local boutique PWM Firm about possible summer opportunities at the firm. How should I prepare for this meeting? How should I market myself so that he would be willing to create some sort of paid/u ...

4 comments - 0 silver bananas - May 21 2014 - 4:26pm - Byron_Frattington_IV

Hello, some background: I am an incoming freshman (current high school senior) planning to matriculate at a target undergrad next year. In the past two years, I have completed internships at a small credit ratings engineering firm (moody's spin-off) ...

3 comments - 0 silver bananas - Mar 2 2016 - 9:59pm - AnonBrah

I am currently still attending community college, planning on transferring spring next year (2015 spring semester). What is the likelihood of landing an PWM internship over the summer? Should I just hold off until next year? Internship private wealth mana ...

3 comments - 0 silver bananas - Mar 23 2014 - 10:07pm - Jacob939

Hey everyone, I had a phone interview with Baird this week for a Private Wealth Management internship and heard back in less than 24 hours about an on-site interview. Any tips? Questions I should be expecting? Baird private wealth management ...

2 comments - 1 silver bananas - Dec 6 2018 - 3:30pm - TheOfficialMachine

Hi, I'm a junior from a non-target and landed an interview with BX PWS, coming up this Friday. I haven't researched much into this group so would really appreciate if anyone can share what they know about Blackstone 's PWS division and/or k ...

2 comments - 1 silver bananas - Oct 4 2017 - 11:16pm - cyxy

Corporate Development Investment Banking career path advice asset management Global Wealth Management Banking to Private Equity private wealth management ...

2 comments - 0 silver bananas - Jul 27 2015 - 7:50pm - scbig4dollarsign

I applied for a seasonal client associate position with ML and have an interview late this week. I'm more interested in investment banking than wealth management, but I'm curious: what skills are transferable? Is it worth taking the job? What wa ...

2 comments - 0 silver bananas - Jun 15 2015 - 1:18pm - cdunn1017

Good evening monkeys, Currently a senior at a non-target going through the interview process. As of today, I have just received a formal offer to be a FA at top tier wealth management firm (think MS, BAML). However, I truly want to be in sales and trading ...

2 comments - 0 silver bananas - Mar 23 2015 - 6:30pm - The Real Gordon...

Hey guys! I actually posted a few days earlier so ill keep the introduction short. I'm a freshman going to a non/semi target school and residing in NY. I am really interested in finance and am hoping to get into IB one day. A lot of very helpful peop ...

2 comments - 0 silver bananas - Dec 20 2014 - 1:29pm - promising

Hi all, Hope you are having a good weekend. So I got a PWM internship offer last week from Merrill Lynch. However, during the HR process this week, I was told that Merrill Lynch does not hire an intern without an SSN. I'm an international student. I& ...

1 comment - 1 silver bananas - Mar 30 2019 - 11:19am - PipEvangelist

Hello, I have a 2.7 GPA at a non-target school, and am a sophomore. I am heading into a BB PWM internship for this summer, and I am concerned I will be completely blown off by firms when applying for Summer Analyst 2020 positions due to my low GPA and uni ...

1 comment - 2 silver bananas - Mar 21 2019 - 6:43pm - MidlengthAlbum

Trying to move in portfolio management from private wealth management. How realistic is it and what work experience/qualifications are required to break in? About me, I'm a recent grad in a private wealth management rotational program at a major wire ...

1 comment - 1 silver bananas - Sep 5 2018 - 12:00am - finlo5

I've been a PWM Analyst for 3 years (BB, big city). Graduated with a finance degree from a target school. I'm moving to a smaller city in the Midwest for personal reasons (think Milwaukee, Detroit, STL). Ideally, I'd like to use this as an ...

1 comment - 1 silver bananas - Jun 6 2018 - 11:32pm - maggiem789

I'm a Junior at a semi-target school and I was just offered an summer internship position at a (small-ish?) Private Wealth Management firm which I just accepted. Compensation is $15/hour and I will be working with/for several analysts and the CIO wit ...

1 comment - 1 silver bananas - Jan 26 2018 - 3:54pm - Binary_Noise

What about thoughts on American vs Euro banks in wealth management post-Mifid? How the bonus structure will be re adjusted since all the private wealth managers commissions based revenue will most likely be forbidden? Thanks private wealth management asse ...

1 comment - 1 silver bananas - Jan 19 2018 - 7:46pm - Goldenfamily

Hi everyone, I recently went to a Veterans career fair where I was able to talk to some GS employees about an opportunity with the company. Since I have been out of the military for a few years, I didn't qualify for the "Veterans Integration Pro ...

1 comment - 1 silver bananas - Dec 31 2017 - 1:05am - thurg00d420

I interned for a PWM team that handled more than $1 billion in client assets in LA. During my time there, I recognized some names while looking at financial statements. I ran into some "youtube stars" there too (was stuck in a elevator with one) ...

1 comment - 1 silver bananas - Nov 7 2017 - 7:54pm - Matoma

I'm curious to see how everyone has approximately made in terms of PWM compensation this year. Especially interested to hear about people who are recently out of school in Europe possibly. please feel free to share numbers for all roles and levels Th ...

- 0 silver bananas - Apr 25 2017 - 2:46pm - Goldenfamily

Hi everyone, As the title suggests, I have 2 offers pending. One is with an RIA as a Senior Analyst and the other is a Fund Accountant with a MM Private Equity firm. I am trying to get some advice on which role which role will be better in the long run. R ...

- 0 silver bananas - Feb 18 2017 - 5:51pm - Ryantherower

Hey all, Anyone know anything about the Wealth Strategies Group (WSG) at MS? It's within their PWM business and helps advisers and advising teams with investment strategy and performance, I think. Not much information on it online so hoping someone h ...

1 comment - 0 silver bananas - Jun 9 2017 - 4:55pm - georgebest

Looking for some career advice from fellow Monkey's... I've been given two opportunities in rather different directions but wanted to gauge some other inputs on everyone's personal opinions. Background: Undergrad finishing up this May from ...

- 0 silver bananas - Feb 25 2016 - 1:32pm - Greedisgood3

Hi guys, I wanted to ask you for your opinion regarding possible positions for a summer internship. Long term, I see myself within investment and Asset Management either at a proper investment management firm or in one of the arms of the BB banks. For thi ...

- 0 silver bananas - Feb 10 2016 - 7:19am - wlululu

I've recently finished my first semester of my freshmen year at a regional target school. Over this summer I won't be studying abroad as I can't afford it, and I don't want to go back to my job as a lifeguard. I'm really looking f ...

- 0 silver bananas - Dec 21 2015 - 4:16pm - chiclanda

Hi all, New to WSO boards but here looking for some insight. I've spent 7 years on the buy-side at a L/S equity HF and considering a switch to Private Wealth through a family connection who has been in the business a long time. Not sure what to expec ...

- 0 silver bananas - Oct 6 2015 - 3:48pm - mbl120

I'm interested in reaching out to someone who could give some color on the wealth management industry in mainland China, like what existing firms are offering, what clients are looking for, and what major hurdles a new entrant would face. Any idea wh ...

- 0 silver bananas - Jun 27 2015 - 7:48am - juked07

Hello All, I'm in a bit of a predicament at the moment. I am in my penultimate year of university/college and whilst I was initially looking for a summer role in IBD things didn't quite work out that way. Instead I have been offered a variety of ...

- 0 silver bananas - May 8 2015 - 8:01am - ProteinSheikh

Hi guys! I am a freshman at UNC- Chapel Hill and I am currently looking for a summer internship. I really want to land a finance internship, especially in wealth management, but right now I think I would be lucky to get anything. I have tried almost every ...

- 0 silver bananas - Mar 17 2015 - 9:52pm - promising

For my freshman summer, I wanted to get an internship. So I've cold call a few places in my city. Most of the major banks does not have a WM division since they were just satellite offices. Others said told me to just look online and apply from there ...

- 0 silver bananas - Mar 7 2015 - 1:06pm - secrethidden

whats the better addition to my resume for a part time internship commercial real estate at no name firm doing interesting work vs pwm at big name firm doing menial work commercial real estate private wealth management 2015 internship ...

- 0 silver bananas - Jan 6 2015 - 3:14am - Grease monkey632

I was wondering if someone can shed light on the differences between these divisions at GS. Thanks Goldman Sachs private wealth management shareholder services control oversight group ...

- 0 silver bananas - Nov 20 2014 - 1:17am - mike47

Hello all Monkeys, I am sophomore in a non-target school looking for some advice. I would like to work in sales and trading and wanted to get a head start. I was looking for possible internships and I was offered a PWM internship. I plan on taking it to b ...

- 0 silver bananas - Nov 10 2014 - 1:19pm - BigApeBob

I am in my 2nd year of public accounting working for one of the big 4. After realizing public accounting isn't my style, I am looking to get into private wealth management or financial planning. Any tips, help or advice on breaking into the industry ...

- 0 silver bananas - Jul 18 2014 - 8:50pm - jsc1215

Hi Everyone, I have been out of school working in wealth management and honestly have been very disappointed. Think elite boutique (average client 5mm, I have my 7 and 63). I want to change careers for a couple of reasons, 1 I think are clientele are bori ...

1 comment - 0 silver bananas - May 24 2014 - 8:17pm - infinitispossible

hello, i am a freshman and i am searching for a PWM internship. i have a few questions: i passed my resume onto a MS manager and she said that she will pass it on to her recruiter and told me to follow up with her a few days from today. how long are a few ...

1 comment - 0 silver bananas - Mar 10 2014 - 2:10pm - roy989751