1. Michigan Business SchoolFinance Club Private Wealth Management

2. Private Client Services • a.k.a. Private Wealth Management, Financial Planning, Individual Advisory Services, Private Banking • Titles: Financial Advisor, Investment Representative, Banker, Wealth Advisor • Develop and manage relationships with individual investors • Market the investment services of the firm • Advise clients on investment opportunities • Analyze client portfolios Michigan Business School Finance Club

3. Things to consider • Nationally known firms, regional firms, boutiques • Highly competitive market • Highly fragmented market (2-3%) • Typical two year grace period to grow your Book • Your own rolodex? Michigan Business School Finance Club

4. Trends in the business • Absolute returns versus relative returns • Best in class asset management • ‘360’ degree client coverage • Team based approach • More knowledgeable clients • Technology • Commission to fee based revenue • Wrap programs • Intermediaries can make it challenging Michigan Business School Finance Club

5. Opportunity • Entrepreneurial: run your own business • Choose your client base-wealth level • Heterogeneous clients • Mix of skills—quantitative and qualitative • Sales oriented • Key differentiator is YOU • Hard work but quite rewarding Michigan Business School Finance Club