| Topic Name: |
UBS Financial Advisor Opps. |
| Message Name: |
re |
| Date Posted: |
10/05/2003 |
| In Reply To: |
Anyone have any comment on the UBS Financial Advisor trainee program?
It seems like they're structured more like a private bank, but work under "financial services". Reading their description and their target client, it appears comparible to Goldman's PCS, Bernstein's PCS, Deutsche Bank's Private Bank, etc. Am I wrong?
What types of exit opportunties (if any) are available with this type of position? I realize the goal of PCS is to continue to gain AUM, and make this a long-term career, but what are other options?
Thanks in Advance. |
| Message: |
I assume you are talking about UBS's financial advisor program, formerly known as PaineWebber...
If so, the majority of their FA's you are simply retail brokers, albeit ones whom attempt to work with a higher net worth clientele. Having said that, they are definitely not in the same league as the IB's PCS groups...If you are interested in PCS, also check out JPM, Bear and MS among others...
Exit opps: If it's retail, your best bet is to become a CFP and hang your own shingle after you gain some experience and have built a nice book. Other's have opened "hedge funds" but as you can imagine, managing a fund is much more complex than "managing" AUM. Most FA's have their client's accounts managed by a professional money manager, they are simply responsible for bringing in the clients.
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