Personal Financial Advisors and Private Wealth Managers

The position I hold as Director of Advanced Markets requires extensive experience as it relates to complex uses of life insurance, deep technical knowledge of financial planning, tax, and legal aspect of planning for the affluent and high net worth, and excellent interpersonal and presentation sk...

As an intern, you can raise your hand and say what kind of job you prefer, or you are good at. They will consider that and then assign different work to you. Until then, you are totally responsible for the work provided from your side.

A typical day for an intern with Deloitte Consulting: 8:00-9:00 transit to target company and get familiar with the interview materials; 9:00-11:30 interviews with the management team to know the actual needs behind their intends to reform the HR structure; 13:30-15:00 interviews or questionnaire...

The passion about consulting services and access to knowledge about different industries drove me to work as an intern at Deloitte Consulting. Being an intern in Human Capital Team allowed people to work with the highest management team in the target company for they determine the HR structure of...

The entire internship is training for the next internship. There is a one week long intern summit at Deloitte University and then a few weeks of on the job training.

It's a cross between a leadership program and a summer internship. You spend 4 weeks in tax and 4 weeks in advisory getting to know the practice and getting hands on experience. When it comes time to select what to do the following summer internship in which would lead to the full time job, you h...

You would be assisting an established financial advisor. This can take many forms and really depends on what your financial advisor needs/ wants you to do. It could be helping organizing, servicing, or prospecting current and potential clients. It could just taking care of his agenda all day. It ...

I did this internship in my freshman year so I liked the exposure to a professional environment and clients. It was also an introduction to financial products in the insurance industry. I will say that apart from that, the learning is minimal and it would be good to consider roles that promise mo...

The training for this role was pretty informal. The role involved quite a bit of client outreach and cold call, so the financial advisors would train me on how and what to communicate to clients. When there was time, they would give me a brief overview of different financial products. A lot of th...

A day in the life of an advisor is starting by reading up on the overnight markets and getting handle on what’s happening with the day ahead. That way if I need to talk to clients before the market opens I can start that process. It also helps me to stay on top of any conversations from clients w...

The training program at EJ was very informative at the beginning of the summer. The company offered roughly two weeks of onboarding videos and walkthroughs that allowed interns to catch up to speed with how the firm operated across the country. Obviously, there are many rules and regulations that...

Being my first finance internship, I learned a lot of the basics of the finance industry. I learned a bit about how to manage money, how to allocate money towards different investment goals, and how liabilities play a role in people's personal investments. I very much enjoyed everything that I le...

This department advises banks, insurance companies and other financial institutions (e.g. REITs) regarding its risk management activities and compliance/legal requirements. As a result as intern you either work in the quant section (verifying the internal risk management measures, helping to deve...

Usually they give you an offer after yur internship, then you work as analyst -> consultant -> senior consultant -> manager -> senior manager -> director -> partner. If you are extremely good you can make it to manager after your fourth year.

Every task provided is reviewed by the FA since most of the work is dealing with highly sensitive information. During my internship I was given a task in which I would complete it and then sit and review with the FA which was a great learning opportunity. Be a self starter and try to get as far a...

The internship program is centered around supporting the FAs on the team you are working for. This included meeting and report preparation as well as some general asset reallocation work. I was able to sit in most FA meeting which was interesting as well give my opinion to customers to FAs only. ...

First and foremost getting this internship at JP Morgan was complicated , but interesting. I have an average network through working with community organizations. I leveraged the network and sponsors to find this role. Key points Research the firm - there are so many areas CIB , PB, Wealth Manage...

As an advisory intern at Novantas, I entered the office between 8:30AM and 9AM, and began by reading the morning news for approximately 10 minutes. I would then respond to any emails in my inbox from the previous evening, and prepare for my meeting with my manager that occurred daily at 9:30AM. I...

The short answer is that a SFAS intern does about 50% EY due diligence system work, 40% Excel work, and maybe another 10% miscellaneous offering document work. The breakdown varies between groups in SFAS, but this is rough estimate. More generally, an intern, with the help of the whole SFAS team,...

EY does an excellent job of upholding their company values. As an intern, I was never put in a situation where I felt uncomfortable or could not seek help from someone else. My team was always supportive and willing to answer questions in great detail in a way that showed they genuinely wanted to...

At EY a Risk Advisory Intern is treated just like a Staff One new hire. Interns are expected to participate and work on client audits, including working on audit work papers, as well as walk through meetings. In addition, EY had a national Risk Advisory group project competition to work with othe...

There is a lot more “life” as an intern than anywhere else. The firm will take you one cruises, to Disney world, and for miscellaneous social events. Most days you can expect a workday to be 9:30-7:30 or so. Some days are longer, but the firm will pay for your dinner and cab ride home. They’re ve...

I really liked how much I was able to take ownership of certain documents related to my project. I was given a lot of responsibility and really looked at as an equal on the team. I also really loved the other interns I worked with and the members of my project team for the summer. I liked it so m...

There are two options for new hires. There is a commission only contract and a salary plus commission package. The salary plus commission package pays $2k per month but your commission is cut in half. The company has minimum sales requirements that can be considered minimum compensation to surviv...

Need a branch with good client flow, 7 and 66 licenses, annuity license, understand banking and enjoy talking with people.

The work-life balance is very reasonable, depending on how dedicated you are. As a Personal Banker, there are goals with very handsome rewards attached to them. However, these goals are not easily attainable and require much effort to reach them. However, Bank of America is great with accommodati...

Due to the strict divide between banking and investments, the merger between Bank of America and Merrill Lynch allowed the customer to keep their banking and investments in one convenient location but still serviced by each respective organization. A personal bankers role is to recognize an inves...

As a first year consultant, most days were pretty busy at Deloitte but also very rewarding. While there was no mandatory arrival and departture times, consultants are accountable for their tasks and teamwork is very important in completing projects and serving clients. Busy season can require lon...

I was actually hired by Deloitte straight out of college as part of a co-op program. I went to Drexel University for my undegrad, and my program allowed me to complete 3 full time 6 month co-ops during my time there. In my third year I applied to Deloitte for my last co-op, and upon completion of...

When I started it was around $13.50 including my foreign language abilities, but now you might be more likely to see between $14-$15/hr. with additional incentives. U.S. Bank uses a points system that has a threshold of, say, 3500 points. When you sell a product, you accrue points. When you pass ...

I don't think there is one thing that will set you apart; there are many important factors in having a successful interview. With US Bank I would say you should research their company, their mission statement what in their mission statement matches with your personal objectives. How can you add t...

The introductory position at any bank would be a Teller, the personal liability this position entails is moderate as long as you can maintain effective cash management skills. The banker position is much more strategic and anyone in the position should understand the high level of liability you a...

Work life balance as a Personal Banker at US Bank was very good. While you will probably work forty hours like at most jobs, there isn't a lot of extra work to do unless it is a busy season.

A typical day at US Bank as a Personal Banker could be very exciting. The number one priority is of course assisting customer with any questions or issues they may be having with their accounts. Another big part of the day as a Personal Banker at US Bank including trying to sell customers on new ...

The work life balance early on isn’t great. It takes a lot of hours and days to get a business up and running, and even though I was with a company it’s very entrepreneurial. I typically worked 13 days in a row before giving myself a full day to recharge. most weekend days were half days, though ...

A day in the life of an advisor is starting by reading up on the overnight markets and getting handle on what’s happening with the day ahead. That way if I need to talk to clients before the market opens I can start that process. It also helps me to stay on top of any conversations from clients w...

A regular day as an Assistant to a Financial Advisor at AXA would be to wake up early in the morning and start cold-calling clientele and informing them about our services we can offer them. The day starts off with quite a bit of rejection and cranky clients, however people are understanding and ...

First thing is you have to take industry exams in order to get the licenses necessary to do business in your state. This would be the life insurance exam, series 7 exam, and highly recommended to take the series 66 exam, but the series 63 will get you started. In order to sit for the series exams...

The training program is constant because it’s in an industry that’s also evolving on a regular basis. AXA does a decent job of getting you over the initial hurdle of entering financial services but after that, the training becomes more dependent on the individual. If you go out looking for inform...

The most important quality in a BDA candidate would be that this individual has to be driven (a keyword that the financial service industry appreciates is be “self-starter”). It’s not a position where someone could get by doing the bare minimum. Past job experiences aren’t as important as the ind...

A PEP Prospective Advisor is actually the preliminary training phase to becoming a full-time Financial Advisor at AXA. PEP stands for Pre-Employment Period. The process includes obtaining a Series 7 and Ohio Life & Health License before training full-time with a manager.

As a Relationship Manager at Bank of America, your result will depend on you about 75%. It is up to you to build a great team with your tellers, merchants, mortgage specialists to ensure that your phone calls are answered and client processed as fast as possible. This will result in client satisf...

Bank of America ( where I worked) is a great place to kickstart your career as a Relationship Manager. They encourage learning and growing and promote a lot from within. You can go as fast or as slow as you want

Excellent merit driven environment for salary, promotions and all of the like but as the title says RELATIONSHIPS MATTER. This is not for independent self promoters or people who do not like to collaborate.

Outbound calling to the existing portfolio, great handle on details, love paperwork and follow through, knowledge of capital markets, external information about the credit rates and money movement environment. If you have never watched CNBC this job is not for you.

A relationship manager would have individualized duties managing a customer relationship in the department they work in whether Commercial, Business Banking, Wealth Management, etc. This is typically a sales and not an ANALYST role so an accounting mindset is only helpful when putting together d...

Excellent problem solving skills, quick learner, excellent communication skills, able to multitask, ability to analyze an issue and make a split decision, reliable and dependable. Experiences I would say, someone who previously worked at a bank because it is a hard role to take on if there is no ...

You have a ipad or tablet with appointments to start the day. You assign appointments first thing in the morning, you walk around the lobby once the branch opens and assist clients with any questions. Tellers call on you to add clients to the que to be seen by a banker if the clients need anythin...

You work solely for Bank of America, some branches have partners that work for Merrill Lynch that you work with for referrals of clients for investment assistance. A Relationship Banker is a lobby host, banker, and assistant to the branch management. You are responsible for assigning appointments...

We help people navigate their accounts via phone, computer, etc and give advice about investing and taxes, and basic things an entry level analyst does, they then pass on the client to the financial advisor and works closely with the adviser.

I know that the role of banker at JP Morgan/Chase has changed since I worked there but I would say the most important skills to possess would be attention to detail, the ability to assess account information and needs of clients and in general being part of the support team (they have an excellen...

As a banker I had no prior experience in the field, however I had been in sales for many years. The main criteria during the interview that was established was that I was eager to learn and I do have a passion for working with people.

The entry-level barriers aren't hard to overcome in the slightest. The company will help you reach promotions, and they offer you the opportunity to listen to successful bankers from around the country. Before I started at J.P. Morgan Chase, I was terrified of speaking to people I didn't know abo...

Sales skills, broad general business acumen, ability to quickly learn about industries and products, ability to work with a team, risk management, and financial statement analysis.

I have seen my colleagues who I started with rise up to 3 positions within a year. Most of our team (from back in 2014) have spread out to bigger and better positions. Two of them even have their own branches.

When you start, $25000 is where you should be starting from. In addition to this, you get performance appraisals, team bonuses, great health benefits and employee perks, and one of the best employer provided retirement plans I have ever seen. Any finance certificate exams you need, the company wi...

From this role, you can either move up into sales, which eventually leads to a career in financial planning or you can become a financial services support member, which works with specific areas in retail investment accounts. This position is a good introduction into getting a better understandin...

In general, the starting salary for this role is between 38k-44k + monthly or quarterly bonuses and a sign on bonus of between 1000-3000. They will also pay for your licensing and registration with FINRA. This is a very common across the industry.

The Financial Client Advocate, also known as a financial representative, is an intensive service role. You will be working with clients with as little as a dollar in their account, to someone with millions. Having customer service experiences and qualities are very important to highlight. Some ex...

​Financial Advising has almost nothing to do with Finance, and everything to do with Sales. Go to the interview with a business plan that includes how many clients you want to obtain in your first year, what an average household should have in assets to be your client, how you plan to get in fro...

As an intern, you can raise your hand and say what kind of job you prefer, or you are good at. They will consider that and then assign different work to you. Until then, you are totally responsible for the work provided from your side.

A typical day for an intern with Deloitte Consulting: 8:00-9:00 transit to target company and get familiar with the interview materials; 9:00-11:30 interviews with the management team to know the actual needs behind their intends to reform the HR structure; 13:30-15:00 interviews or questionnaire...

The passion about consulting services and access to knowledge about different industries drove me to work as an intern at Deloitte Consulting. Being an intern in Human Capital Team allowed people to work with the highest management team in the target company for they determine the HR structure of...

I liked that the AXA Advisors externship consisted of only 3 sessions and each one was very informative and useful. The information given out was helpful towards any job in the industry, not just geared towards being successful at AXA. I felt like the knowledge I learned was applicable almost any...

This department advises banks, insurance companies and other financial institutions (e.g. REITs) regarding its risk management activities and compliance/legal requirements. As a result as intern you either work in the quant section (verifying the internal risk management measures, helping to deve...

Usually they give you an offer after yur internship, then you work as analyst -> consultant -> senior consultant -> manager -> senior manager -> director -> partner. If you are extremely good you can make it to manager after your fourth year.

You have to be adaptable and persistent first and foremost as you might be switching from legal to quant frequently, which can be challenging. If you want to do the quant part fulltime programming skills in R, matlab, or VBA are a huge advantage.

First and foremost getting this internship at JP Morgan was complicated , but interesting. I have an average network through working with community organizations. I leveraged the network and sponsors to find this role. Key points Research the firm - there are so many areas CIB , PB, Wealth Manage...

You should expect to have a lot of ownership over your work. You will work on many projects that help the company. Your advisors will check and manage your work but other than that it is all up to you to show your skills.

I've been working at U.S. Bank for about 4 years now. I would say the work-life balance is very good. We have the ability to work from home if something happens and we need to be home. We have a summer work policy that allows people to work from home on Fridays if they choose, and it is also e...

One can expect to be entirely responsible for their own success. Being an agent at Foresters is a huge commitment to personal and business development. It is starting a Financial practice from the ground up. One must be excellent with talking to people, and not afraid to make endless cold-calls t...

The expected comp for an APM at BMO is LOW, especially compared to other institutions with the same positions. I'd say close to 20% below market value. BMO has wildly ranges within each pay grade, but an APM is a grade 5, and a new graduate can expect to make around $48-50k coming in. Bonuses ...

For an interview for an APM role, you would really want to highlight things such as attention to detail, interest in the markets, and at least a basic knowledge of the markets. APM's are responsible for making trades and sometimes moving large amounts of money, and there really isn't much wiggle...

there is literally no formal training. This is a small company learning to be a big one and they lack in this area. It’s all on the job.

I would highlight any academic accomplishments (degrees and certifications), overall intellect, understanding of the general business area overall (dependent upon your strategy), and be down-to-earth. People who work at Blackstone excel as much socially as they do in other aspects of their lives.

My tip would be to maintain strong connections with mentors/managers/etc. and continuously show interest in the firm’s missions and objectives.

I became a Wealth Management intern because I had a connection in the field and acted on it. No matter what major you are involved in it is important to understand the best strategies in handling your own finances.

As far as the ownership of your work question goes, to be honest, there was nothing I had done that i thought was worth me taking ownership for...if you're speaking in regards to maybe a manager using your idea or something. Whatever work I did, i took full ownership in my thought process and ana...

Probably not a good question for me. I was interning during school, so I worked 2 days a week for a total of about 10 hrs per week. But the full-time FAs had control over their own time once they built a book of clients (usually 2-3 years after joining)

I was put with a smaller wealth management group (about 15 people). I would go to their office 4 days a week, then spend Fridays at the main office...few blocks north. Day to Day I would either help with some budgeting, do some internal operational type of tasks, or work on my end of internship p...

The expected comp for an APM at BMO is LOW, especially compared to other institutions with the same positions. I'd say close to 20% below market value. BMO has wildly ranges within each pay grade, but an APM is a grade 5, and a new graduate can expect to make around $48-50k coming in. Bonuses ...

For an interview for an APM role, you would really want to highlight things such as attention to detail, interest in the markets, and at least a basic knowledge of the markets. APM's are responsible for making trades and sometimes moving large amounts of money, and there really isn't much wiggle...

Talk about your sales skills, wealth management is all about getting clients. If you have any experience on the phone that is perfect. Being able to talk to clients and get them to trust you to manage their money is the most crucial aspect of the job. When you work with younger advisors, the most...

It ultimately depends on how assertive you are about what you want to get out of the internship; it also depends on who you are working for. Wealth management is a very entrepreneurial field. For me, there was no set program, and I did what my boss needed help with, it included prospecting and pr...

Understanding of how markets work and a basic idea of institutional and retail investing. Communication skill and eager to learn from other professionals across different groups.

The firm’s mission was mainly to create manage accounts and create financial plans that are best tailored to a client’s needs and geared towards their goals. My role contributed to this mission as I was able to help advisors on the back end of their business and be a resource to them as they cond...

Probably your interest in the financial services industry and your people skills- ability to build relationships with clients. Your salary in the wealth management industry is dependent on commissions from clients- so the more clients you have and the larger the portfolio that you are managing f...

This varies depending on the needs of the team you join. In my experience, much of my day to day was spent on marketing and administrative workflow. Lots of work in the client relationship management software, various marketing and compliance oriented tasks. At the end of the day, you are there n...

Wealth management has a great work/life balance. You definitely will not have late nights often, if at all. Also, a lot of this can even be done at home when you’re full-time; hence, why my manager forgot I’d be coming in for work. He worked at home most days unless a client was coming in.

I didn't like the days that I didn't have much to do or was asked to clean file cabinets (yes they still exist today haha). Of course, that's the way the market rolls....summers are generally pretty slow, so I couldn't expect much more. The one thing I liked was the conversationalists in my group...

Don't expect a full-time offer, but make it known that making your place on the team permanent is something you want. Show an interest, and ask questions about peoples' jobs above you. Learn about their roles and figure out if it's even something you want, because you may not actually want that f...

Confidence in yourself and your work product. A strong work ethic is required to make it even as an intern, as the expectations within wealth management are very high. Your team will expect you to manage your workload and be independent, taking initiative and escalating where required. Of course,...

Research the wealth management field, understand portfolios and risk tolerance, and know that financial planning is much more than just picking stocks and bonds (i.e. trust and estates, social security planning, college planning, taxes, etc.)

This really depends on the team you’re with at MS Wealth Management. If you are in a structured internship program I cannot really speak to that. I was hired directly by a team to be their intern. I was used mainly to cold call middle market business owners for succession planning and M&A opportu...

You should have some way of keeping in touch with the markets on a daily basis, whether it's an email every morning that has the major headlines of the day or a website you check showing the levels of the major indices. You also should ask for help or advice from as many people as possible. This ...

You should expect to have total ownership over your work as an Asset Management Intern; even though PNC greatly respects and believes in the team approach, personal responsibility must be an innate trait working with your colleagues and working for your clients. Also, it is important as an intern...