Note: I don't have the ten things. I am just scouting for more advice. The PWM lords on WSO have provided some very educating responses on the website. But, I am trying to find answers to a few other broad stroke questions: 1. What were the mistakes you made on your way to building your own book that you wish you hadn't made, in retrospect? 2. What were things that turned out to be tougher than what you had expected while starting out? 3. What was the biggest assumption you had before starting your career in the business that sooner or later turned out to be inaccurate? 4. If you had a chance
28 Jun 2021
Hey guys, In a nutshell, this is my dilemma, I'm on a road to what I've unfortunately grown to see as a golden cage and I'm not sure if it's what I really want out of my career and life. For background, I'm a twenty-something working at a wealth management practice on the west coast. Over the last few decades, my dad has worked very hard to establish a $500M+ AUM practice that generates a few million a year in revenue. For as long as I can remember, he has wanted me to go into business with him and eventually take over the practice. The plan was simple. I finish up school with a high GPA and
17 Jun 2021
Hey, I'm from the UK, final year at a semi-target (Warwick, Durham, St Andrews) on track for 1st/2:1. I didn't get a SA position last year but should be doing some work at a relatively small PE firm this summer and I've done some AM placements previously (also at smaller firms though). Does anyone know my chances at getting an FT position at a BB or MM for AM / WM for next year? Also, have been looking a bit at corporate banking at firms where it's a bit more under the IB umbrella e.g. Citi, would this be an easier goal? Thanks.------------------------------------------------------------------
22 Mar 2021
Hi everyone! :) I am a Spanish graduate student attending an Ivy League university in the US (think Wharton/Columbia/Yale) studying finance and economics. I know I want to work in the Buy Side but I am still unsure if I should do AM or PB. I appreciate work/life balance and I would like to work in EU (UK/ Spain/ Switzerland) after graduation. I have two interesting offers for this summer and both have pros and cons, so I am not sure which one to choose, given that both want me to intern with them on July-August. The positions and characteristics are the following: 1. Dodge & Cox -
26 Jan 2021
I have a full time interview with Alliance Bernstein for Wealth Management. Can anyone on here tell me a bit more about wealth management, specifically at Alliance Bernstein? What do the salary and career progression look like
06 Sep 2020
Curious to know the differences in pay structure, if any at all, and if there is a slightly lower failure rate when joining a team or being mentored and working with an experienced advisor/PM then say going it alone. Becauses of COVID and limits on in person socialization have firms loosened the requirements for gaining AUM in the first three years? Anyone have thoughts on what it may be like starting out, on a team, as a FAA(MS, UBS, JEFF, ROCK) in these COVID times?
08 Oct 2020
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
Hey Guys! Here is a discussion on the J.P.Morgan Summer Analyst program 2020. I'm currently under consideration for 4 emea positions. Do you guys have any update on superdays or interviews?
16 Sep 2019
Anyone have insight on the GFO group, specifically the relationship management team as far as culture, team dynamic, base + bonus numbers (Associate Director, Director and ED levels)? Department description: GFO is a joint venture between UBS WM and IB division -- supports delivery of inst'l and corporate solutions to FO clients, and prospecting, building long-standing, cross divisional relationships and delivering products, services and advice to the largest FO clients.
24 Mar 2021
Hi all, About nine months ago, I was let go from my first post-grad position at a small RIA (a story that I shared here previously). I've since met up with my former boss a few times, and he confirmed that my position was eliminated - they haven't hired anyone in my place. That being said, my job search in the past nine months has been an absolute misery. I have been ghosted more times than I can count, showed up at final rounds only to find out I was totally unqualified to begin with, and had not one, but two separate offers fall through due to internal company reasons. To give you a little
12 Dec 2018
For reasons that remain mysterious to me, I have a final-round interview a FoF this week, and I am looking for advice and resources on preparing for it. I have two interviews, one with a MD and the other with a VP, and a third with someone from HR. I also have an excel case study that is meant to test my thought process in an investment situation, but not of my knowledge on investing. While I am a finance major (dog-shit school), I feel like I don't know a lot about finance. I have my series 7/63 and currently work in customer relations for a BD, but I am generally unsure about what I want
17 Oct 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 appreciated.
24 Aug 2017
Does anyone know when it makes sense to go with each of these categories? And for the bankers out there, can you have a discount brokerage account? I would think there would be serious temptations that may occur arising if you could make independent trades. Regardless, when does it make sense to go with: 1. Discount brokerage: Etrade, Scott trade, etc. 2. Full-service brokerage: MSSB, UBS, etc. 3. PWM: Goldman, MS, etc. 4. Private banking: Northern Trust, JPM, etc.
26 Feb 2011
Hey y'all!! I wanted to ask about breaking out of management consulting in the financial services industry, and transitioning into a private wealth management/private banking role. Generally on my background: *Consulting sales experience *Solid network of HNW individuals *Speaks Mandarin and German *No Series 7 *Great people skills I've really loved working in the financial services industry, but have never provided investment advice, although have worked directly on sales and client campaigning at the MC firm (big 4). Strong personal network of HNW individuals and some UHNW individuals. I'm
13 Oct 2017
Hi guys, So I've been given this opportunity to intern with a boutique IB in LA this summer. I'm a sophomore and I'm aiming at junior IBD internship in BB next year. If it were not for the job function I got to know from my interviewer, I'd definitely go with the boutique - just that he mentioned they would launch a new website and there'd be much writing work for it. Also I'd be writing a lot for industry research / economic outlook. I'm afraid I might not get enough hands-on modeling stuff, so what do you think I should choose, UBS or boutique given that the job functions are both not much banking-emphasized? Or maybe I'm wrong somewhere in my thought?
19 Apr 2011
Hello all, need some advice. I'm wondering what everyone thinks about a UBS wealth management internship. It could be pretty much bullshit work, but it is a name. Please so bashing of the UBS name, its still a BB and people on the forum are in denial. Does not matter than has nothing to do with my question. Back to original question: has anyone actually participated in this type of internship? If you have been through this internship, what is your general opinion/experience ? Do you think the UBS name will be beneficial and considered when apply for SA position recruiting next year, even though it is not an IBD internship....... Please help me out, I am trying to find as much info as possible. Thanks in advance
15 Feb 2010
Hey Guys, I am in a very complex situation. I interned at a wealth management firm in Seattle and they invited me back for full time. They manage $2 Billion and are expanding quickly. They are offering very low salary compared to what my peers at my school (top-tier) are getting. They said they need to hear by next Friday and the longer I wait the less dedicated my boss might think I am and the quick raises they said are in line might be at risk. However, I also have a final round interview at Disney corporate finance in SoCal (sort of an in-house investment banking position) early next week. The Seattle firm is annoyed that I am going to take this. I should hear back about an offer just before Seattle's offer deadline.
04 Nov 2010
3 weeks into my training at one of the top 5 investment banks and I already want to quit. I am already looked down upon as the compliance guy and I am sick of it. AND this is by colleagues who haven't even hit their desk yet. I am very intelligent, an assertive body and I thought after some UN work regulations would be a good gig as I could combine my FO experience with my UN stuff and compliance would be the ultimate dream. HOWEVER! I have never felt so looked down upon, so rubbish and just worthless then as I do now. I am scared that if I don't quit my job now before I hit the desk I will be
13 Aug 2016
I was supposed to have a final round interview today for the sales and relationship management role at BlackRock but I never received aa zoom link or confirmation. I have emailed the recruiter twice to no avail and the web portal just gives me the interview time. Is anyone else experiencing this or am I just dumb?
09 Nov 2020
I have an upcoming interview with Goldman IMD. Is this mostly fit or will there be technical questions too? How in depth do I need to know the market atmosphere? investment management goldman sachs interview process Goldman Sachs Investment Management is an Asset Management internship. The interview are not extremely technical. The focus is more on fit. Staying up to date on financial news will also help you during interviews. Questions for the first round interviews include: What was your favorite course so far? Tell me about your last internship? Greatest strength/ Greatest weakness Why
18 Jan 2015
Hey guys, so I'm going into the summer before my senior year in undergrad at a top 100 school. I have been part-time interning with a UBS Wealth Management group, one of their top 100 groups nationally, and have a full time offer for the summer. It's not a structured program internship, but just an intern with this specific group. It is not much money compared with official internship programs, but they still have great resources to learn from. However, I just recieved an offer for a corporate finance internship with a smaller manufacturing firm. I would be working on specific projects directly with their CFO, who last worked in IB for a BB. This internship is also higher pay than UBS WM.
17 May 2011
First, a little background. I'm a rising junior interning at a major wealth management firm this summer with career goals of investment banking after college. This summer I have primarily been sitting in on calls with advisors and shadowing them. Also, I have done lot of clerical work and any other random projects that are thrown at me. Overall, my experience has been good but a little underwhelming. I'm incredibly thankful for the opportunity and consider myself lucky to have gotten the job. However, I don't particularly find the job exciting or challenging and don't see myself there past
24 Jun 2015
How should you approach the situation where you have a current internship in Wealth Management but get an IB Offer? I am a sophomore and have an internship at MS in Wealth Management, but I am entering my business school this summer as a Junior Transfer (non Target to Target), and we do accelerated recruiting, and I feel like I might be missing out on an opportunity for accelerated IB Summer Internships. Should I apply for them even though I have an internship that ends next Fall? Also what kind of moral hazard should I have (or not have) when it comes to jumping ship prematurely for a better
10 Apr 2018
Hello everyone, longtime lurker recently starting posting. I have an interview coming up in a month or so for the position of a summer wealth management analyst intern with Morgan Stanley. I interned last summer with them at a different office doing private wealth management, which i learned a little bit but really didn't do a whole lot. Im coming from a semi target university with pretty good grades, but i know im going to be competing with kids from ivy leagues and other top schools. I already know some of th epeople through net working and have some great connections into the firm, so i really want to prepare and crush the interview.
24 Oct 2012
Hey buddies, long time no see. I was wondering what salary I could expect as an entry level position in an asset management/pwm firm based in London. I have 2 previous experiences (internships in consulting & IB) and I don't know what could be my first salary expectations. Thank you for your help.
01 Jun 2018
Background info: I am a Finance major in my senior year at a non-target university, with a less than desirable GPA. I've managed to hedge my poor academic decision making with quality experience on my resume, in the form of a stock analyst internship at an RIA firm in the area, and a Lead Analyst position in my Student Investment Club Research Team. I graduate in May 2020. My career end goal is to get to Wall St., and exit into PE., but I'm aware it's going to take a longer and more complicated path than most. I am trying to determine my best path to this goal. I am currently faced with this
07 Nov 2019
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) - Find a job elsewhere doing something I enjoy The pay is great and all, but the it's not the path I want my career trajectory to take. The technical aspect just isn't there, lots of mundane administrative duties, old/bad technology, and I'm afraid continuing in PB/PWM will hinder my future career
15 Jan 2016
Hi! I'm a sophomore finance major at a big public university in the south. 4.0 GPA female. Can you please tell me how I get to a full time wealth management job in the next 10 years? What titles should I apply for for my sophomore into junior year internship? What title do I look for for Junior to Senior summer? What companies should I target? What companies am I most likely to get an internship. What role do I want as my first job out of college? What GPA/stats do these companies look for when selecting interns? Thank you so much!!!!!!
20 Aug 2021
I'm an incoming freshman in college, interested in IB. I already have had 2 internships, one in tax and one in finance. I'm a white male however, so I can't apply to any diversity programs. What are the best banks that I can get a summer internship at after my freshman or sophomore year? If not really possible, what's the next best move? PWM or a tiny local boutique?
14 Jul 2021
I am asking this in regard to preparing for Jr. Summer IB internships - preferably in research. I am a rising junior and have been offered two summer internships so far: one at a bulge-bracket firm doing PWM (the kind where FAs earn commission and other finance professionals may derisively refer to them as "brokers"), and the other is at a start-up consulting/VC firm. I already have a PWM internship with another BB, and frankly, the suit I was wearing was the most impressive part of the job.
16 May 2011
So i have an interview on wednesday for UBS with their corporate cash management group. I understand the general idea of what the group entails however I was wondering if any of you guys had any experience/ knew more in detail of what this group specializes/ specifically does (in particular an investment associate/ client associate)\ furthermore, what skills shouldld i try to emphasize on? (i have had experience at an independent investment counsel (pwm essentially) and will be interning pwm @ Merrill lynch). any advice would be great! this would really help, and I would really appreciate it
01 Jun 2010
Would like to get your thoughts on being a research analyst for a wealth manager. The position would entail doing third party manager research and due diligence. - How are wealth management research analysts viewed, given financial advisers are at the front of the business? - Are the skills learned in this function transferable to asset management? - As a manager research analyst progresses, what are the positions as they move up? (eg fixed income trader could lead to PM; equity analyst leads to sector head, etc) - Would this position pigeon hole the analyst in manager research or could it
28 Apr 2018
I am a recent college grad, and am trying to get into Wall Street. You can see my situation from previous posts: I went to a non-target private school, tho I did well, have a ton of extracurrics, I majored in poli sci, minored in economics and Spanish. I've been applying to places left and right. I did get an interview, and even made it to a second round for retail wealth management. I didn't get an offer.
01 Dec 2012
CFA Institute ("CFAI") brought out the fourth edition of a report titled "Earning Investors' Trust" in April 2020. Complete key highlights can be accessed at https://news.alphastreet.com/wealth-management-wh… Some of the key highlights from the report include: When retail investors were asked which following types of people they considered to be more trustworthy, the highest were Doctors (77%) followed by Accountants (42%), Lawyers (29%), Financial Advisors (23%) and Mechanics (22%). Retail investor trust is highest in India at 87% (up by 16% compared to 2018) followed by China
16 Jun 2020
Investment and Asset Management Many of our users feel that investment management and asset management can be used interchangeably; however, some feel that there are distinctions between the two divisions. One external source describes asset management as any broad entity that oversees things of value to a given group. Investment management on the other hand is defined as the professional asset management of financial securities. Another user shared: The financial industry makes use of the phrase "Asset Management", but it is done inappropriately. Asset Management connotes something more
01 Dec 2009
Hey all, I was wondering if anyone can share some insight on what the starting salary and career progression looks like starting off as a financial advisor at a bulge bracket like MS or JPM. I recently just graduated this summer after having to take one class, and after many interviews I don't have anything substantial. I was wondering if getting hired by a team with close to a billion in AUM, would start off paying a salary, or if it is entirely all commission. And if salary, what exactly could it be Thank you.
11 Sep 2017
Any idea what the difference is between BofA's Global Wealth and Investment Management Summer Analyst Program and the Merrill Lynch Wealth Management Branch Office Internship? Descriptions look pretty much the same, but the GWIM looks a little better. scroll to the bottom of the page: http://careers.bankofamerica.com/campus-Americas-…
12 Feb 2012
Hey all, Trying to determine my next move. Spent the last 2.5 years (right out of undergrad) at a family wealth management office. Not much room for growth so looking at other opps within private wealth management/banking. Any specific programs or companies I should look at or should i Just apply to GS, MS, JPM, etc. private wealth management analyst positions? I want something with some sales orientation and client facing potential, but not the hire you and tell you to bring in $5M in assets the first year or your fired deals. Any thoughts?
15 Dec 2015
Hey all, did a search in the forums and extensive research online, and am trying to decide which option is better for people starting in finance (assuming all things else are equal: employer matches etc). Would be very grateful to any advice or wisdom shared! Apologies if this is posted in the wrong section. Most people have told me the Roth 401k is superior but haven't been able to offer a clear rationale for this.
02 Aug 2013
Hello everyone! I hope everyone is happy and healthy during the covid-era! I am currently a student looking to gain some insight and advice that I would need to break into finance/investment banking/wealth management. Specifically, I am interested in learning about the necessary steps that I should take, the technical skills I would need and the networking approach that I should take. I am currently applying for internships and would also like some advice as to how I should spice up my resume to land an internship. My current goal is to start out as an investment/financial analyst in the near
25 Mar 2021
I have an in-person interview with JP Morgan Private Bank / Private Wealth Management for their 2010 PWM Analyst Class. Background on me: Senior Sociology student at top 3 public university. Marketing Consultant for our University Health Services, Advertising Chair for my freshman year dorm council, Lead Marketing Member of Advertising and Marketing club, and a Volunteer at our Student Scholarship Fund. I have also worked for Citi Smith Barney (2008) and Bank of America/Merrill Lynch (2009) as a Global Wealth Management Summer Analyst. Does anyone have any good advice on interview topics that I should know for PWM? Questions? Teasers? Fit vs. Technical? Any help would be really appreciated since the interview is on Tuesday. Thanks!
23 Mar 2010
Does anyone have any insights into the off-cycle internship role at various Morgan Stanley wealth management locations? I had an initial conversation with an advisor at a California location and was surprised when he told me it is essentially a marketing role with some research responsibilities and other general administrative responsibilities. The internship is paid, but I'm wondering if it's worth it. Is it a good resume item?
19 Oct 2021
Hey Guys, I just rounded out my first semester of Junior Year absolutely terribly, including getting a C in my Corporate Finance class. While I wasn't doing extremely stellar before, I was somewhat coasting along. I'm terribly concerned, and sincerely worried about my future. Am I screwed now? (I'm below the 3.00 kiss of death threshold). It is late in the game Can I round up to a 3.00? What should I do next, if I am to secure an internship before the Junior year Summer? I will do anything necessary, no matter how hard and how many hours, to get back on track. I'm ashamed and scared. I'm
21 Dec 2019
Hello all, Hope this is the right forum or sub-forum to post my question. If it's in the wrong forum, could the mods mods move it to the appropriate one? Thx My friend is thinking of moving to Toronto or NY from Hong Kong and currently his job title is "Customer Relationship Manager" in the Wealth Management department at one of the big banks in Hong Kong. He work's out of one of the retail branches. What type of positions in CA/US would be similar in terms of tasks and responsibilities? He's looking into doing something similar or the same as his current position in HK but in CA or US. Or
26 Jan 2016
Anyone on here have any personal or second-hand experience to pass on regarding working at one of UBS' Wealth Advice Centers? There's one in Weehawken, NJ, and one in Charlotte, NC. Seems like a decent way to get into the industry (I'm transitioning out of the military), but with relatively low pay ($50k base & opportunities for commission), but you're not working with HNW/UHNW like I would ideally like. Any thoughts, experiences, or feedback would be great.
06 Oct 2020
Hi Guys, I am between two offers. The first is for an internal wholesale gig, working for a highly respected investment management firm; the second is for an analyst position at a newly established RIA (AUM of ~200MM), where my functions would include placing trades, building portfolios, preparing performance reports, etc. Does anyone have experience working with a small RIA? If so, and assuming the RIA does grow to a more significant level, could I expect to learn more from working-and growing with-the RIA? My ultimate goal is to become an FA, but I'd like to accumulate a more diverse
26 Apr 2018
I am currently a sophomore at a non-target, main objective is a front office SA/Full Time position. Any of your thoughts or opinions would be great. I am currently considering the following positions for an internship this summer: Merrill Lynch Wealth Management at a main office in Central NJ -Official title is Global Wealth and Investment Management Summer Analyst (not sure if that implies anything for significant) , I initially reached out to the office and they had me submit an application on the BofA website. It seems like a very structured program as it is full time and I would be reporting to the Managing Director. UBS Wealth Management in NYC
04 Apr 2014
Hey wallstreetoasis, My goal is to break into Equity Research but there aren't many alumni from my school in that field. However, there is an alumni who is very successful in Wealth Management at a reputable firm. I have an informal interview with them soon. Should I be forthcoming about my intentions to get into equity research? Is the transition from Wealth Management to equity research even reasonable? If so, how would you recommend going about it? Thanks
30 Sep 2021
Hey y'all, Thanks for taking the time to view this post. I was wondering how a Wealth Management Analyst (at JP Morgan for example) can pivot to Equity Research. What would you need to do? When should you do it? How do you position yourself the best way possible etc.? Thank you
29 Sep 2021