private wealth management

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  2. AMA: 3rd Year Private Bank Analyst

    Asset Management

    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 ...

    +12 24 comments12 Apr 2019 -

  3. Comprehensive List of Internships for Freshmen

    Investment Banking

    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 ...

    +7 43 comments12 Apr 2019 -

  4. Cities with the Best Cost of Living / Work Life Balance in Finance

    Job Search Advice

    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 ...

    +10 152 comments12 Apr 2019 -

  5. Fintech is going to kill Private Wealth Management jobs?

    Asset Management

    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 ...

    +5 90 comments16 Jul 2016 -

  6. Why is PWM looked down on?

    Asset Management

    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 No Yes 190149 165942 140155 1010 ...

    +22 132 comments6 Mar 2017 -

  7. How PWM really works (part 1): past, present, future, and $$$

    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 ...

    +25 60 comments24 Jul 2014 -

  8. How PWM really works (part 2): Breaking In, Staying In, and Getting Out

    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 ...

    +19 45 comments24 Jul 2014 -

  9. How to break into Institutional Sales/PWM at a BB firm after UG

    Job Search Advice

    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 comments21 Mar 2017 -

  10. Portfolios in Private Wealth Management

    Asset Management

    For those working in PWM: How are client's risk tolerance and goals translated into a portfolio? Is market risk a consideration in the portfolio construction process? portfolio construction private wealth management No Yes 190149 374003 393931 121637 ...

    +2 8 comments13 Aug 2019 -

  11. Accepted back office position with Goldman PWM- Possible to make switch to front office?

    Asset Management

    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 comments25 Jun 2016 -

  12. What "Ballers" gets about football and money

    Off Topic

    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 comments30 Jun 2015 -

  13. PWM to Equity Research

    Job Search Advice

    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 ...

    +1 18 comments18 Oct 2014 -

  14. Chances for a top MBA from Private Bank/PWM

    Business School and GMAT

    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 comments24 Feb 2016 -

  15. Goldman Sachs PWM: Wealth Management Professional vs. Private Wealth Advisor

    Asset Management

    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 comments15 Jan 2015 -

  16. Transition into VC from Private Wealth Management/CFP. Advice?

    Private Equity

    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 comments12 Jun 2015 -

  17. Starting Career in PWM

    Asset Management

    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 ...

    +1 11 comments1 Jun 2015 -

  18. The Rise of the Hybrid Advisor??

    Asset Management

    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 ...

    +1 10 comments15 Sep 2014 -

  19. Portfolio Construction Analyst Interview Help!!

    Asset Management

    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 comments8 Apr 2016 -

  20. Technical Questions for PWM Internship at BB

    Investment Banking

    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 ...

    +1 6 comments24 Aug 2017 -

  21. Recommended PWM & PB Information

    Other Industries

    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 comments23 Aug 2014 -

  22. Fall and Spring Internships

    Investment Banking

    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 ...

    +1 5 comments22 Feb 2018 -

  23. Investment Management Internships in Virginia Beach

    Asset Management

    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 comments8 Jul 2015 -

  24. PWM and IM Salaries?

    Asset Management

    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 ...

    +1 4 comments11 May 2018 -

  25. Finance/Accounting Jobs Outside of IB in Canada

    Job Search Advice

    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 ...

    +1 4 comments6 Feb 2018 -

  26. What if your broker goes bankrupt?

    Sales and Trading

    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 comments3 Jun 2014 -

  27. PE to PWM

    Private Equity

    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 comments11 Aug 2016 -

  28. Fixed Income S&T versus WM Analyst in New York

    Sales and Trading

    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 comments30 Jan 2015 -

  29. Help! Meeting with PWM Director next week

    Asset Management

    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 comments21 May 2014 -

  30. Need help choosing an internship

    Job Search Advice

    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 comments2 Mar 2016 -

  31. PWM Internship while in community college?

    Investment Banking

    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 comments23 Mar 2014 -

  32. Baird On-Site Interview Tips

    Asset Management

    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 ...

    +1 2 comments6 Dec 2018 -

  33. Blackstone Private Wealth Solutions (PWS) Interview

    Asset Management

    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 ...

    +1 2 comments4 Oct 2017 -

  34. Guidance on Career Help IB, PE, Asset MGT., Wealth Managment

    Job Search Advice

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

    2 comments27 Jul 2015 -

  35. Merrill Lynch Seasonal Client Associate

    Asset Management

    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 comments15 Jun 2015 -

  36. Wealth Management to S&T...likely to happen?

    Job Search Advice

    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 comments23 Mar 2015 -

  37. More advice on landing internships?

    Investment Banking

    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 comments20 Dec 2014 -

  38. Got an offer from Merrill Lynch but HR rejected it

    Other Industries

    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 1 comment30 Mar 2019 -

  39. Concerned about 2020 Summer Analyst Recruiting- 2.7 GPA, Non-Target

    Sales and Trading

    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 ...

    +2 1 comment21 Mar 2019 -

  40. Moving from Private Wealth Management to Portfolio Management

    Asset Management

    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 1 comment5 Sep 2018 -

  41. BB PWM Analyst exit opps?

    Job Search Advice

    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 1 comment6 Jun 2018 -

  42. How difficult will it be for me to move from a PWM internship into M&A or Equity Research?

    Other Industries

    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 1 comment26 Jan 2018 -

  43. Regulation and Wealth & Asset Management

    Asset Management

    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 1 comment19 Jan 2018 -

  44. Student New Associate Program at Goldman Sachs

    Investment Banking

    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 1 comment31 Dec 2017 -

  45. Anyone in Private Wealth Management deal with well-known/famous clients?

    Asset Management

    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 1 comment7 Nov 2017 -

  46. PWM compensations

    Investment Banking

    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 ...

    25 Apr 2017 -

  47. Help choosing offer between PE and RIA

    Job Search Advice

    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 ...

    18 Feb 2017 -

  48. Morgan Stanley Wealth Strategies Group?

    Asset Management

    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 comment9 Jun 2017 -

  49. Morgan Stanley PWM vs Duff & Phelps Valuation

    Job Search Advice

    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 ...

    25 Feb 2016 -

  50. Want to be in AM/PWM long term, which internship to choose for this summer?

    Job Search Advice

    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 ...

    10 Feb 2016 -

  51. What's the next move?

    Job Search Advice

    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 ...

    21 Dec 2015 -

  52. Buy-side to Private Wealth

    Asset Management

    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 ...

    6 Oct 2015 -

  53. Wealth management in mainland China

    Asset Management

    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 ...

    27 Jun 2015 -

  54. Which Role Should I Take?

    Job Search Advice

    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 ...

    8 May 2015 -

  55. Advice for Internships

    Investment Banking

    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 ...

    17 Mar 2015 -

  56. Not Having any Luck With PWM

    Job Search Advice

    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 ...

    7 Mar 2015 -

  57. Dont know which internship to take

    Job Search Advice

    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 No ...

    6 Jan 2015 -

  58. Shareholder Services, Control Oversight Group, Private Wealth Management

    Other Industries

    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 Dominion Bond Rating Services Capital Automotive Real Estate Services A ...

    20 Nov 2014 -

  59. From PWM to Sales/Trading

    Job Search Advice

    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 ...

    10 Nov 2014 -

  60. Public Accountant to Wealth Management

    New User Introductions

    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 ...

    18 Jul 2014 -

  61. Want to get out of Wealth Management

    Job Search Advice

    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 comment24 May 2014 -

  62. Private Wealth Management Internship Questions

    Job Search Advice

    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 comment10 Mar 2014 -