Transcript Corporate Governance - Ross School of Business

Michigan Business School
Finance Club
Private Wealth Management
Private Client Services
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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
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Things to consider
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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?
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Trends in the business
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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
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Opportunity
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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
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