private wealth management

I am a recent M7 MBA graduate who accepted an offer to be a Private Wealth Advisor (Starting as a PWM Associate) at Goldman Sachs Private Wealth Management (GS PWM). I worked in finance before business school and went to MBA to stay in finance to multiply my earning potential. I was attracted to GS...

31 Jan 2022

Hey all, I am trying to decide between two offers for Summer 2022, Deloitte Tax Consulting and GS Ayco PFM. I have some initial thoughts but I'd like to hear what you think: For Deloitte; Pros: In NYC (apart from being in the city, more networking ops, especially if I get a return offer) Better pay...

26 Nov 2021

Currently approaching my 1 year mark at a strategic VC firm focused on emerging deep tech. The learning curve was steep and i'd like to give back. **Background: ** Short version: I attended a southeast non-target, moved to northeast and have 1 1/2 years at multi-family office / hedge fund, 1 year in...

03 May 2020

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 Q&A. Some background: I went to a target university and have been...

09 Apr 2019

Before I start, I know that most everyone looks down on PWM and sees it as a dead end in the finance world (that may be true). But what if that dead end isn't so bad? Currently I intern at a very small independent RIA (a little less than 100 AUM) in the midwest. They've been in business for less...

27 Jun 2021

What kind of roles can someone get in PWM as a fresh grad? I'm really interested in AM but I am not interested in financial advising and being a CFP.

29 Jul 2021

I am a non diversity and just finished my freshman year at a target and BB recruiting is coming up on the horizon for me. I am currently interning at a top BB (GS/MS) this summer as a PWM intern in NYC. My work desk got moved into my MD's office, so we chat quite a bit when there are lulls in the...

28 Jun 2022

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 on vacation until tomorrow. I aim to cover several...

03 Jul 2014

Hi all, I just signed a '23 offer with as a wealth management summer analyst at a BB. I was wondering if you can let me know if I have any chance to move to IB at that firm for FT?

20 Jul 2022

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 Lynch PWM - almost any major city Please feel free...

21 Dec 2017

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 will focus on misconceptions, differences between PWM...

13 Jul 2014

A lot of discussion on this forum about lack of exit options from PWM. I thought it would be helpful to share an alternative opinion. From my experience and that of many of my peers, I felt that people who worked at BBs with a lot of brand power (predominantly MS/JPM/GS) pivoted to a pretty wide...

09 May 2021

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 info you may have would be greatly...

24 Aug 2017

Hey everyone! I've read tons of the "is the CFA worth it" type posts but figured I'd ask since this is a bit more specific. I work for a wealth management practice with $1bn under management. We are semi independent and clear through one of the larger broker dealers in a franchise type arrangement....

20 Jan 2022

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 considering starting a robo-advisory as a method of...

16 Jul 2016

I've been reading these forums for a while and finally decided to make the push into IB. Currently looking to lateral internally (or externally if it doesn't work out) from a PWM rotational program into Investment Banking. I've been doing my homework and following the guides posted on here and M&I....

28 May 2021

I have summer internship offers at both JPM and BlackRock, the roles are: JPM: Investment Solutions at J.P. Morgan Private Bank "Work with our teams to understand client needs and examine market activities to develop and execute strategies that help clients meet their financial goals Partner with...

20 Dec 2021

Hi everyone! I am an incoming intern to the PWM industry and was recently offered by these two firms Goldman and JP Morgan for a position in their summer programme. I wanted to ask for some advice to help to decide which firm is a better fit for me. Some of my considerations are long term career...

27 Nov 2020

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?

13 Aug 2019

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 to go about it. I would prefer Institutional...

11 Jul 2015

Hey everyone, So long story short, I'm a current freshman in college that wants to get into IB post-grad. I'd like to acquire a PWM internship for the summer between freshman year and sophomore year but I'm not sure how to do this as employers probably wouldn't give most freshmen a chance. Just...

01 Oct 2020

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 dudes partying, the show focuses on something a bit more nerdy: money...

30 Jun 2015

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 between high salary and low cost of living in finance? I'm...

09 Aug 2014

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 unimpressive university. I have an explanation...

21 Mar 2019

A little background: Im 22 personal banker been in consumer for a little over 2 years. Dropped out of college before joining the bank. My market director tell me if i climb through the ranks all the way to financial advisor, get my licenses, I can make the transition. But i was wondering if its...

23 Dec 2020

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 opportunity should I try and intern during the...

22 Feb 2018

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 know what I should prepare for the interview. Thanks!

04 Oct 2017

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, PWM, Financial Analysis, Corporate Finance,...

04 Feb 2018

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 last summer for one of the portfolio management...

01 Jun 2015

I had a superday yesterday for the FT analyst program in the private bank at JP Morgan. Think it went fairly well. When can I expect to hear back? Have others heard back? I'm also curious what percentage of people who make it to the superday round end up getting hired, if anybody knows this.

04 Mar 2021

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 office jobs before I landed my current...

04 Oct 2014

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'm pretty sure I can work there with CPT...

30 Mar 2019

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 entrepreneurship. I love the startup scene and am a due...

12 Jun 2015

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 wirehouse; only 50 of us across the country. After a...

05 Sep 2018

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 anyone shed a light on these? They are all related...

15 Sep 2014

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 here. Thanks EDIT: I'm mostly interested in information...

23 Aug 2014

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 within both Research and Portfolio Management. The...

26 Jan 2018

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 mutual funds that specifically invest in this asset...

03 Jun 2014

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 go to as many networking events as needed and to...

25 Jun 2016

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, quant analyses, manager selection, creating reports, etc....

01 Apr 2016

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 believe this could be on the client side, investment side,...

14 Oct 2015

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 possibility for me. A close family member recently...

10 Aug 2016

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 GS PWM or knows someone that did!! Thanks in...

15 Jan 2015

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 in the fall, but I recognize that because my school...

08 Jul 2015

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) and a small california based VC firm. I really do...

02 Mar 2016

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 and J.P. Morgan in their wealth management SA...

29 Jan 2015

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 Program," but since I just finished up my Masters Degree,...

29 Dec 2017

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). Being young and naive back then, I was pretty amazed....

07 Nov 2017

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/unpaid PWM Internship for me. To give you some...

21 May 2014

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 and not on the wealth management side of the...

23 Mar 2015