I have an interview this Friday with Bank of America Global Wealth and Investment Managment division. Position title is Portfolio Manger–Private Portfolio Service. Anybody has any comments about Bank of America’s wealth managment capabalities (overall asset, name recognition, ect…) and any ideas about this kind of position? This position is to service wealth client of the Private bank. Thank you!
anyone?
I don’t know much about this offering. However, I wonder if it’s not unlike a lot of bigger shops insofar as -> Lower MERs + Higher minimums magically equals “Private Client”. Willy
WillyR Wrote: ------------------------------------------------------- > I don’t know much about this offering. However, I > wonder if it’s not unlike a lot of bigger shops > insofar as -> Lower MERs + Higher minimums > magically equals “Private Client”. > > Willy LOL
Their Global Wealth and Investment Management Group is the fastest growing in the country. I hear they’re trying to beef up their alternative investments groups since their acquisition of US Trust. No wonder their stock has been on a move.
this isa more complex FA that does no marketing… you can make a nice base and decent bonus while working 40 hours a week… it is a large place and they will never get the huge clients but in the space you will be working in should be fine
do you have any experience in wealth management?
I’ve spent my own wealth… 
I do but in a very fixed market. Ultra high net worth… 250MM to 4B
goldenboy09 Wrote: ------------------------------------------------------- > this isa more complex FA that does no > marketing… you can make a nice base and decent > bonus while working 40 hours a week… it is a > large place and they will never get the huge > clients but in the space you will be working in > should be fine Thank you for the input. FA does no marketing pretty much sums it for me. Do you know if I would have an opportunity do actually manage client’s portfilio? Is this sales or service related position? Thanks
they are set up more like a priavte bank…
WS let us know how it turns out…
Lower MER, Higher minimum investment = “Private Client”. Willy
MER?
Podunk Wrote: ------------------------------------------------------- > WS let us know how it turns out… Had my interview. They asked me a lot of questions related to how to handle certain client situation. Wasn’t really technical based. This positon is mainly a support role for the front-office relationship manager, so relationship manager can focus on gather asset, while the PM focus on managing the asset. This is the position&career path I would like. Waiting now…!!
this is a model being used by many private banks… it is a good model but you will have to fight to get PC’s and get paid
goldenboy09 Wrote: ------------------------------------------------------- > this is a model being used by many private > banks… it is a good model but you will have > to fight to get PC’s and get paid Any pointers?
not really just know that if you are all things to a client you will be paid for it… kind of like a FA at Merrill Lynch…He/She only has to pass a little down for his Asst. while in a private bank you have a team of people all grabbing from the same pot… so you have to make sure no one snakes you on all deals you should be inculded on…
goldenboy09 Wrote: ------------------------------------------------------- > not really just know that if you are all things to > a client you will be paid for it… kind of like a > FA at Merrill Lynch…He/She only has to pass a > little down for his Asst. while in a private bank > you have a team of people all grabbing from the > same pot… so you have to make sure no one > snakes you on all deals you should be inculded > on… Thanks, I guess the only thing left to do is waiting for the call-back. Thank you Goldenboy09.
good luck.