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PWM Internship after Freshman Year
If this post seems redundant, I do apologize. I'm just trying my best to gain as much information as possible to increase my chances of getting into IBD . I am entering college this fall at an (Ivy) target school and I've been using Google/WallStreetOasis to research any possible internship...
From HF in Asia to AM/PWM in EU??
Hi guys, looking for some help here.. a bit of a background first.. I attended uni in Asia studying engineering, and then completed a Masters in Fin from Europe. Came back to my home country (in Asia) post Masters (wrong time to graduate in EU - 2012), and found a job providing valuation services to...
PB shops with PE funds
Hey guys- I am looking at banks with PB functions (so think MS/ GS / Citi /Boutique PB) that also raise Private Equity funds. Would the PE fund be considered an investment manager from an operational standpoint? Investment Advisors in PB typically recommend asset allocation strategies to their...
East Coast vs West Coast PWM- Investment Advisory
Hey everyone, I am from New York, but I am going to be interviewing with an investment advisory firm out in Los Angeles (SEIA Signator). They have 5.1 billion AUM as of December 2015, and growing. I am a 22 year old that graduated from college last May (Syracuse University) with a degree in...
Youngest paid PWM internship you have heard of
What is the youngest you guys have ever heard of someone getting a paid PWM internship? My friend got one at ML as a freshman, and I was if this was a typical result.
Portfolio Construction Analyst Interview Help!!
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....
PWM > top 10 B-School > IBD/VC/Industry
I'm thinking of applying to UBS 3yr PWM program. Is it possible to get a good recommendation for B-School post completion? Will the recommendation hurt me? My goal is enter into VC /Industry/ IBD (in that order of preference). Stats: Non-Target 3.9 1 Startup - no exit 1 Large Midwest Bank NYC 3...
Career advice needed (PWM, Business development, ibank internal wholesaler opp)
Hello all, Any career advice would be appreciated: I have about 7 years in the industry working in prop trading and as an advisor for the world's largest RIA. I've won multiple awards, been a top performer at my firm and have been pulling in about 250k / year for a while. I took a VP job at a small...
Life after BB Private Banking... need advice
I'm a second/third year analyst at a BB Private Bank in the Southeast US, and need advice on where to take my career from here. The way I see it these are my options at the moment: - Climb the ladder at my current bank and try to move internally - Go to business school (would only go to top 15) -...
What's the next move?
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 for the opportunity to take on a banking internship or a PWM internship...
Opinions on Morgan Stanley PWM
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CFA®/CFP roles + PWM question
Hey guys, I've worked ~4 years in equity reserach (have CFA® ) and have recently switched to PWM and am planning on taking the CFP . i enjoyed research but did not like having my comp tied to stock calls longer term. My new role isn't up to par with I thought (more account services) and I am...
Series 7/63 Advice
My job requires me to pass both exams in a little under 60 days or I am fired. I just signed a nice lease for an apartment in a prime area and have committed myself to various things to take this job..so I cannot fail. I am about 4 years removed from finance coursework, so while I am familiar with...
Private Wealth Management work description on Resume
Hi, During my last internship ( PWM ) I did not do much of anything, but cold calling all day long. I'm trying to update my resume now, and I would like to get some feedback on what I have under the description of my last PMW internship. PWM Intern: • Conducted product, market, and client...
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 on vacation until tomorrow. I aim to cover several...
A girl laughed when I said PWM
wtf? We met a bar and talked for a few minutes then she asked why i was in NYC for the summer and I said I'm doing an internship at [bank} for private wealth management. then she f***g laughed for a second like it was a joke. Even though I missed out on an IB summer spot (rising junior) I'm still in...
Telling People at PWM/Other Internship Position You're More Interested in Wall St.
Is it a faux pas to talk about preferring to work in S&T or IB while working as a summer intern in PWM at a bank that doesn't have a lot of business in IB? Or, if you get asked where you see yourself in 5 years in an interview for such a position? It seems to me like these internship programs are...
Goldman Sachs PWM vs. MM IB
I'm currently a junior going through the interview process for banking. What would be considered better: A PWM internship with Goldman Sachs NY office or doing IB with a middle market firm outside NY (Chicago, Philly, exc.)? For the record, Goldman is the only PWM internship I'm interviewing for,...
Fortune 50 or PWM
Have an offer for a finance role at a large fortune 50 company and an offer from a boutique PWM firm that has been growing steadily for a few decades. Looking for advice to aid in my decision, thanks!
Webinar Rewind - Private Wealth Management vs. Investment Banking + Q&A
In case you missed our September 8th webinar entitled Private Wealth Management vs. Investment Banking , have no fear. The full recording of the webinar can be found below (free until Tuesday morning when it goes into our video library ). SIGN UP FOR A 1-HOUR MENTOR SESSION WITH PHIL And, as always,...
Wealth Management but don't want to be an Advisor
Hi, I'm very interested in working in wealth management as an analyst/ associate (working with clients, equity research , analysis) as a job out of a target school, however I do not want to be an Advisor in the long run. Is this a good route to take? What are some other exit ops? Would be very...
More Prestigious- Retail or PWM?
I have an offer from a large IM firm (250B+ AUM) and have the decision to work in either their retail division or in an investment associate/client facing role in PWM (neither involve any sales). The firm is known for their mutual funds/ ETFs so retail would include the packaging of those. Im...
Evaluating my options
Hi WSO , It has recently become my goal to break into the banking industry. I am a 2013 grad from a top ranked (non-target) LAC, with a 3.2 gpa. I currently have been working in pwm for 1 year (elite boutique in SF) and while I have gained some valuable skills ultimately I see myself wanting to...
Equity Research to PWM
Hi all Buy side ER w/ ~4 years of experience + CFA . Looking to possibly switch in to PWM as the client interaction + skills learned in person finance attracts me (vs. digging through company financials). I know this may be a 'step down' in terms of quantitative skills, but im sort of done with...
Career Guidance, Need some Insight
I'm a rising Junior at a target school, and up to this point, I have had no work experience outside of a family owned business. I'm an Economics major, about a 3.7 GPA, and in the Honors Program. My first two summers, I screwed around, had fun, but recently, I've gotten serious about career...
PWM / Boutique IB internship- requesting region
Hi, Rising sophomore in college hoping to get a PWM / boutique IB internship next summer. I've done a software engineering internship as well as a marketing internship, but I want to get a finance internship on my resume next summer to help me with BB IBD recruiting. I'm at a semi-target in SoCal...
Thought Experiment: You're a Freshman in College, What's Your Game Plan?
OK, I've always been impressed with SoftBank and Masayoshi Son because this guy publishes a 30 year plan. Can you imagine? He thinks 30 years ahead. Let's linger not on the impracticalities of this, but the principle... My nephew is thinking about breaking into finance, and he's terribly self-aware...
PWM to CFO?
Hi WSO , Here is my situation: I'm a 2013 grad from a non target, economics major, work in BB PWM , 3.2 gpa, great EC's. Ultimately I want to be a CFO because it allows me to: 1. work with companies 2. Help build something from the start to finish, should I join a startup 3. great mix between sales,...
Is this illegal? Avoiding Gift tax?
Hi everyone, Lets say I want to gift 20k to my son. Obviously I can pass on 14k without inuring any gift tax but can I give $6,040 to my cousin (pay him 40 dollars lets say so cover wiring expenses, etc) and have him gift 6k to my son? where dem pwm folks at? It seems like if I wanted to I could do...
Skills to pick up this summer
I'm interning at a BB PWM branch in NYC this summer and will likely have a lot of free time in the evenings and weekends. I have a S&T interview at a BB this August and am looking to pick up another skill this summer in my free time. Any recommendations on worthy skills for S&T? I am already pretty...
Goldman IMD (PWM) or KPMG EVS or Boutique Consulting Firm
Applying for SA , Target Sch. After this summer, I need go for fall FT recruiting. Assuming I want to go into consulting (preferably the big ones like MBB ) more than banking (but fine with banking), which one is a better choice? I can possibly also obtain SA from IBDs of Baird and Macquarie . I...
PWM Questions!
Hello WSO , I am interested in becoming a PWM analyst, but I have a few questions. Is it possible to break in as an analyst after graduating from college? And serving as an intern for two summers at PWM , is it easy to secure a FT offer? Thanks!
Bonus Season: Dollar, Dollar Bills.
I've seen one other thread concerning bonus info, mostly for associate+. So let's get a thread going for all levels and all divisions. Analyst and up, PWM , IBD , ER , IT, doesn't matter. Personally: Barclays PWM , very bad. I've heard IBD was also highly discounted to Street.
Question for IB Associate
Hi Everyone, I had a question for IB associates on this forum. What is the makeup of your associate class? I work at a PWM company and have a 3.2 gpa (think elite boutique, team based work). I am a recent grad and would like to get into banking at some point. I am guessing my best bet is to get into...
Sophomore Summer: I'm completely lost
Please excuse my naivety, but I'm really having some trouble as to where to begin when it comes to looking for something for the summer. I ultimately want to go into IBD , but I feel like it's impossible to find something my sophomore summer. I have a 3.9 GPA, am slightly involved on campus, and...
Alliance Bernstein: associate program
Can someone tell me about the Associate Program at AB? I don't have a geographic preference but was curious to learning about exit opps, the program in general, your experience, hours, B school opportunities, interview questions/format? How would this look if I wanted to lateral into banking after...
PWM program that offers autonomy
I'm a non-finance senior in college (former finance major). I'm entrepreneurial and wouldn't want a crazy training program or someone breathing over my shoulder constantly.. are there any pwm grad programs that allow you to start building a client book early on? Preferably in London. I know careers...
Bessemer Trust Culture
Not much info on here for Bessemer Trust. Anecdotal stories have suggested that they have a very conservative culture. Anyone else have experience working for them or have an idea of the culture?
Useless PWM Internship?
I think I screwed myself over in the beginning with this internship. When my supervisor asked what I wanted to do, I was too vague and now I'm doing pointless work. I've only been doing it for a week though. I know PWM internships tend to involve bad work, and that someone has to do it. But all I've...
Client Pruning: Is there an algorithm for this?
Hi, all. I was wondering if any of you have ever been in or seen a situation in which one FA's book had just gotten TOO big and he or she needed to decide which accounts to keep and which to pass on to younger financial advisors. How did they decide? Was there some kind of a science to it? How would...
GS PWM vs no name IB
Rising jr @ target, trying to squeeze in one last experience before recruiting (so this would be a fall internship) and lets say I had to choose between GS PWM and a no name IB . What should I choose? My prev. internship experiences would include startup, F500 Business Analyst and PE by this Fall....
Offshore account? Think again.
The primary response to the financial crisis by the U.S. government was to put in place many new regulations that covered everything from setting up a business to centrally clearing all derivative trading. I was recently listening to a video blog posted by Peter Schiff , he was mentioning that he...
Freshman College Summer Internship with Management Firm? Yes or No?
Hello Everyone, I recently met a classmate that is older and is the floor manager at a Management Firm. They manage a bunch of different companies for some "rich old guy," (this is what my classmate told me.) I told him I was looking for a summer internship and he said that he could line me up for...
Differences between BB PWMs - UBS/ML vs JPM/GS
PWM is generally looked down upon, except for the opportunity to add "name" to your resume. Just curious, what is the exact difference between these two categories of PWM gigs/shops? I heard ML / UBS gigs are usually bich work. Would that be different for JPM / GS ? Read a lot of conflicting...
ibd bb pwm bb ibd
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Best time to call for a PWM internship?
Hey guys. I'm a freshman and looking for a PWM internship this spring semester. Should I wait till after the New Years to start cold calling? Or will people be busier that time of year or on vacation?
Sophomore summer... besides IBD?
Sophomore at a non-target (T50) trying to get into banking. 3.9+ GPA & currently doing a school-year-long BB PWM internship a couple days a week. After talking to some of the regional MM firms I am not too optimistic about landing a IBD gig for this coming summer (firms are looking for juniors). Not...
Where to go from here - 19 year old sophmore in college
Hey guys,
Private Banking Relationship Manager Questions
Hey guys, I'm interested in looking into a Sales related career. I think that I would have the qualities to succeed in a sales-type position and I think that talking to people seems a hell of a lot more interesting than looking at charts and numbers and shit. I was hoping that someone could answer a...
Goldman Sachs Market Solutions Group
Hey, Has anyone got any experience on this group? Below is a brief description I found and it looks like a good group sitting within PWM 'The Market Solutions Group is a Capital Markets desk that sits within Private Wealth Management. The desk provides structured solutions and cross-asset trading...
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