Kaja Whitehouse’s Post

The next decade will bring change in wealth management that's coinciding with (and no less significant than) the "great wealth transfer" from baby boomers to succeeding generations. More than a third of financial advisors will retire — leaving a profession in which nearly three out of every four rookies fail to break into the field — with more than two-fifths of the industry's client assets up for grabs upon the older generation's exit. For our annual Top 40 Brokers Under 40 feature, here's a look at why the industry must hire more young people and career changers and what firms and organizations are doing to help solve the problem, with insights from Nayan Ranchhod, CFP, CRPC, APMA, AAMS of Silver Lining Wealth Advisors and Ameriprise Financial Services, LLC, Andrew Blake of Cerulli Associates, Gigs Taylor-Stephenson, MBA of Wall Street Bound, Inc, Luis Rosa of the BLX Internship Program and Manish Dave of Ameriprise. #professionaldevelopment #financialadvisors #wealthmanagement https://lnkd.in/gZheYrwq

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These are the top 10 investment banks to work for👇 (According to GlassDoor employee satisfaction) 1. Goldman Sachs 2. Bank of America 3. JP Morgan 4. Barclays 5. Nomura Holdings 6. TD 7. Jefferies 8. Evercore 9. Guggenheim Partners 10. Centerview Partners As an ex-employee of Goldman Sachs, I can confirm, first hand that the ratings above seem accurate. These banks are highly competitive. Most receive more than 50k students applications a year. So make sure you have: → AAB (or better) at A levels → Internships from 1st year → Good commercial awareness → Standout cover letters and CVs → Strong valuation and financial modelling skills Remember, success is the sum of small efforts executed efficiently.

Our summer interns learn a lot from us, but we too have gained insights from them —particularly regarding young peoples’ views on financial literacy. Wealth Strategist Ben Rizzuto shares a few noteworthy takeaways. Swipe below for the highlights, then get the full story here 👉 https://bit.ly/3Lt3HMb #JHI #JanusHenderson #BrighterFutureTogether #ProfessionalDevelopment #FinancialLiteracy 

Yesterday, I had the opportunity of delivering an overview of investment banking careers and M&A at UCL. Every year, I see students tripping over the same hurdles in their quest to break into banking. It's time to quit tripping and start sprinting! 🕵️ Here are some insider tips from someone who has placed more than 250 students in banking over the past 7 years at top companies including Goldman Sachs, UBS, JP Morgan and MS among many others. ✅ The early bird catches the worm. Make your move now! Secure spring weeks and summer internships to give yourself a head start when it comes to graduate jobs. ✅ If leading investment banks like Goldman Sachs or J.P. Morgan shut their doors, don't lose heart. There's a whole world of boutique investment banks awaiting your application. ✅ Did you know there are over 2,000 financial services companies in the UK? Set a high target; aim to apply for 50 to 100 jobs each month. That's how you secure 2 to 5 interviews per month. Ready to break into banking like a pro?

From Degas Wright, CFA: I want to thank Wall Street Bound, Inc for inviting me to Wall Street Wrap Up on April 23rd! We discussed recent earnings announcements and the Federal Reserve’s impact on markets! It was an excellent way for me to connect with the students and remind me of the importance of financial literacy! Wall Street Bound is a non-profit organization that strives to empower young people of color to become agents of change and advance diversity within the financial services industry. This organization accomplishes this mission with two strategies. The first strategy is providing college students a comprehensive virtual or on-campus program led by experienced industry professionals. At the completion of these programs, the students are prepared for internships or hiring opportunities in the finance industry. The second strategy is their partnerships with corporations. If you are a college student interested in applying for this opportunity, please go to: https://lnkd.in/ggVEBfN If you are a corporate leader and considering expanding your hiring networks, please contact Troy Prince, CAIA. Thank you to Nena Ugwuomo for serving as facilitator for the session. The students had great questions and I enjoyed our discussion!  #financialliteracy #decaturcapital

📣📣 Learn the secrets that helped more than 200 students get a job in banking, including at marquee names such as Goldman Sachs, JP Morgan, UBS and Morgan Stanley. Are you a university student or a recent graduate looking for a job/internships in investment banking❓ City Investment Training is offering a Live Online 2-day course (worth £1,000) for Free to all students who Like, Share, Comment and Follow us on LinkedIn. The course is free for students who want to attend the course and get a participation certificate. Spend two days with an ex-Goldman Sachs and Barclays investment banker. Once you have... ✅ Liked, ✅ Shared this post and ✅ Comment on this post. 👉 Please DM me for link only after taking care of the 3 tasks above. 🗓 Date: 4th and 5th of May 2024 Look forward to seeing you all online! PS: The course is meant for students or recent graduates from Europe or North America only. #finance #investmentbanking #careers #students

A couple of weeks ago I gave a talk to one of Bloomberg's Summer Intern classes of 2023. I told them about the time a decade ago when I was an intern on the Sales & Trading Floor of UBS Investment Bank. I had taken finance and economics classes at school but there was nothing like the real life experience of the complexity (and ingenuity) of finance in the real world. Sitting with traders, salespeople and product structurers was the first time that I learned in-depth about structured derivative products and financial engineering. Combinations of bond investments and creative derivative overlays to create complex payoffs engineered for investors desires and views on capital protection, leverage, yield enhancement and correlation. To prepare for the talk and bring real life examples, I read Lawrence Galitz's book: "The Financial Times Handbook of Financial Engineering: Using Derivatives to Manage Risk". From futures, forwards, swaps, options and credit default swaps to basis trades, capped notes, path-dependent range accruals and digital payoffs - this book is extremely well written with solid examples of why and when investors might put on different trades. If you're interested in derivative markets, you won't find a better apprenticeship than this book. If you were one of the interns in that talk, this book is an excellent compliment to your academic studies. Good luck and all the best Intern Class of 2023! #bloomberg #financialtimes #intern2023 #financialengineering #structuredproducts #derivatives #banking #finance https://lnkd.in/ebbRBkeP

Every Wharton student's dream job was to work at Goldman Sachs… Once I set my sights on this, I was relentless. I went to every info session even as a sophomore. (Sophomore Wall Street jobs were unheard of... juniors only.) Session after session I would run to the keynote speaker, introduce myself and win them over. They all said the same thing: "Here's my card: call me when you’re a junior." Then, at a Credit Suisse info session, I ran up to this managing director, who was one of the youngest in firm history. I did my generic intro. But then, he stopped me: "Hey, I'm from St. Louis too!" So we talked about the Cardinals, Imos pizza and what high-school he went to.. This was my chance: "I’ll work for free, anything you need, just want to learn." He responded: "What's your SAT score? What's your GPA? What did you get in Calculus last semester?" He liked my answers: so he said “call me next week at 10am Thursday morning.” I did. He picked up and said I'm busy, call me in two weeks. He did that 14 MORE TIMES over 5 months. But I kept calling. I thought he was busy, but it was a test. He was testing my resolve. Finally, I got the internship. It was not glamorous… They paid me $10 an hour to do: - Coffee runs - Make copies BUT, every once in a while, they let me watch them trade government bonds. So, I put in 60 hour weeks. I worked hard, I was humble and I made a good impression. The next summer, a different leader who I had become close with moved over to Goldman Sachs. And HE called ME to come be an intern.... Without being that determined college sophomore, I wouldn’t have: - Worked at McKinsey - Worked at Goldman Sachs - Met my co-founders - Started Ampush - Built GatewayX Don’t discount determination or those who have it. #entrepreneurship #internships #bootstrapping

Winter intern/graduate season is upon us! If you or someone you know is keen to break into the buy-side, we've compiled a snapshot of entry-level roles to help guide you towards what you want to do. Note: most of these require around 1-2 years' industry experience, as fundies seldom have capacity to take interns/grads. What to do in those 1-2 years? There's no hard and fast rule - unless you want to be in private equity (spend them in investment banking) or private credit (spend them in corporate/institutional banking). My advice would be to search for people in each role and see how they got their start in the industry. Maybe even (politely) ask them for a call or a coffee. You'll start to see some common themes emerge, which should help you with what to aim for. Of course, it's much easier if you have existing connections. But for those who don't - put in the work at uni, do your research, reach out to people, ask thoughtful questions and keep grinding!