Wells Fargo Investment Management specialist
Hi all,
I recently received an offer for the senior investment management specialist withWells Fargo Private Bank. Good pay in low cost of living city after a year in consulting. What is this position about? Good one to move to portfolio manager role? Are those good way to get true investment management experience or I will be pigeonholed? I'm not familiar withWFPrivate Bank at all and have no clue about investment management but would be happy to leave consulting.
Got an offer to interview fromWFrecruiter on linkedin. The interview was 100% fit based. We clicked with my interviewers and they gave me an offer the same day. They all have 7 and 66 series but told me I don't need those since it's a fiduciary role. The description is below.
Assists Senior Investment Managers in handling investment management activities for a group of clients.Manages simple to moderately complex investment portfolios for Investment Management accountsand/or fiduciary (irrevocable and revocable trust) accounts. With limited investment strategy authorityand generally handling smaller accounts, works under the direct supervision of management or moresenior staff. Consults with Relationship Manager, Financial Consultant, Private Banker, AccountAdministrator (if applicable) and client to deliver "full balance sheet" solutions based on managementphilosophy and customer objectives. Utilizes an investment consulting approach to execute investmentstrategies leveraging individual securities (incl. equities, bonds,ETFs, real estate securities, etc.), pooledvehicles (incl. open and closed end Mutual Funds and DIFs), "open architecture" platforms, and"alternative" investments to maximize returns commensurate with an acceptable level of risk for theclient. Performs investment research, keeps informed of developments in investment managementindustry and confers with tax attorneys, accountants, etc., to determine other consequences ofinvestment decisions and resolve account problems. Assists in business development throughsales/marketing while leveraging partnership opportunities throughout the firm.
Comments (3)
Hey jericho_1, I'm here to break the silence...any of these links help you?:
More suggestions...
I hope those threads give you a bit more insight.
Just to add quick update for those who might be interested. I really love this role. A lot to learn and there is a clear path to portfolio strategist role who makes decisions and manages billions of dollars. Pay is very good and people are relaxed. Nobody works more than 50 hours a week based on their schedules from outlook. 3 days out of 5 work from home. People wear khakis and unbuttoned shirts when in the office and suits when meet with clients. I got to meet retired CEOs and present them decks as a part of the portfolio strategist team as well as pension funds for counties, cities and schools. Most of them dont even look at the decks that I just started to learn how to put together. Most of those portfolio strategists and managers came from the role I am in. It seems however that the pay tops around $250k for them based on the lunch conversations. It sounds like a life pulling $250k while working 50 hrs a week max.
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