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Michigan Business School Finance Club. Private Wealth Management. Private Client Services. a.k.a. Private Wealth Management, Financial Planning, Individual Advisory Services, Private Banking Titles: Financial Advisor, Investment Representative, Banker, Wealth Advisor
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Michigan Business School Finance Club
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Presentation Transcript
Michigan Business SchoolFinance Club
Private Wealth Management
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
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
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
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
