What is the typical name for the job that basically involves making the investment decisions on trust accounts (>500,000 in investable assets) for a bank. The position does not conduct cold calls, but is required to meet with interested clients to close the deal. I’m having trouble finding information on this type of position based on the name used by the bank, so I assume it’s not the normal name.
Any help is appreciated
This isn’t my expertise, but this sounds like the work of a Private Banker.
Probably a Vice President of some variety.
Yea, I think it’s in that same world. Except I think private bankers typically deal at one level higher, with all the services. They would refer the client if they needed a portfolio manager, or they would underwrite a loan if they needed it, etc.
I’ve had this job at a very large bank. At the time, the title was Investment Manager. I believe they’ve now changed it to Investment Strategist. I’ve also seen it called Portfolio Manager. Private Banker typically deals with deposit accounts and loans.
It’s not a bad gig really. You do have sales goals, but are not really expected to generate leads, just be part of the overall team. The team will include a Private Banker, Trust Officer, Investment Manager, etc.
Did you enjoy the experience? I’m always looking for something that pairs my love for learning with people skills, and it seems like it may be a candidate. The employer seems like they’re really interested in me even after I told them my first available time being somewhat in the future, so I’m going to keep it on the backburner as I progress with a few other opportunities. Appreciate the names!
Did you enjoy the experience? I’m always looking for something that pairs my love for learning with people skills, and it seems like it may be a candidate. The employer seems like they’re really interested in me even after I told them my first available time being somewhat in the future, so I’m going to keep it on the backburner as I progress with a few other opportunities. Appreciate the names!
I can 2nd these titles. I just left a position supporting this function and for the most part, the person making the investment decisions had the title of Portoflio Manager. Depending on the size of the account, the PM would work with an Investment Management Associate and would generally have a client services team that supported their region as well as a performance analyst that supported a specific region. Some IMA’s did the bulk of the heavy lifting while the PM was generating business. Other IMA’s were glorified secretaries. The bigger the account, the more ridiculous the job titles became. Throw “senior” or “global” somewhere in the title and the money starts rolling in, apparently. My new role is 100% supporting institutional clients and I sort of miss the phone ringing with easy questions because some guys wife couldn’t decipher an investment statement.
Investment specialist, Investment Advisor & PM are the most common that I’ve come across. Def. not a Private Banker. Private Wealth Advisor that is usually reservied for high net worth or family office clientele.
I enjoyed it. It used to be that these roles were very investment research intensive and each investment manager was making a lot of the investment decisions. At most of the big banks, this role has shifted to more a client facing and sales focused role. They’ve really centralized the investment decisions so that the investment manager’s role is to apply the firm’s best thinking and model portfolios to each client. You still have to know your stuff from an investment standpoint, but it’s certainly less research intensive than it used to be.
Thanks for the very useful input guys! It definetly sounds like that Moto. My impression is there is a lot of software now which helps make the decisions. The guy told me the CFA used to be a requirement or you were fired and now it’s just encouraged.
I’ve also had experience at this. Job title would be PM or investment officer. Good gig. CFA is a must have.