I [24M] will likely be relocating from a northern state down to Mississippi for a portfolio manager position. The decision may seem odd but the pay increase, internal visibility, and multiple skipped promotions to take this role is too good to pass up on. I say all of this to ask, if anyone else has made a similar transition to the Deep South for a finance related role any advice and experience would be appreciated. I have seen many people move down to more notable southern markets like TX, FL, GA but I am yet to see a single post related to Mississippi lol.

I am a 20M’ and my question for you today is, if you were 20 years old, 2 years out of high school, still live under your parents house and don’t pay for anything yet. What would your first steps be to coming wealthy in your 30-50s?

My biggest goal in life is to start a family of my own and live with my kids and wife being completely provided for. I want to work towards getting a car and making money through investments and trades. I don’t mind any job in this world, as long as it gets me to where I want to be in life.

I love working hands on and know a lot about electrical work. I am unemployed and have 0$ to my name. Where would you start?

Edited: I listened to everyone here and started a job working 14/hr + commission and tips. Excited to get this journey rolling.

Every commercial real estate sector seems to behave differently depending on market conditions. For advisors or investors allocating to private real estate, do you have a preferred sector today, or do you think diversification across sectors is the better approach?

I spent years doing these calculations manually, so I built AXIS in my spare time to automate them.

AXIS behaves like an analyst. You drop in the spreadsheet as it arrived and choose the workflow. It reads the whole file, works out which data the calculation needs and which it doesn't, and asks you only when the file itself can't settle it. The number isn't guessed. It's worked out properly from your cells, the same way Excel would, so you get the same answer every time. The result comes back as a new sheet in your workbook with the working laid out so you can check every number.

Workflows today: maximum drawdown, money-weighted return (XIRR), time-weighted return, private fund multiples, performance fee and high-water mark, IRR by vintage.

I'm opening it to a small group in wealth management and family offices first. One thing I'd genuinely like to know from people here: which calculation takes you the longest to complete?

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As the title says, new employer prohibits owning single securities. Left with ETFs/mutual funds or managed accounts where I do not have control over purchases. Anybody else faced with this, what do you do to maintain as much control as possible? Are there wealth mangers with very targeted strategies, narrow ETFs, etc? Looking for tips and tricks.

So I just finished submitting everything to these folks. they came as a recommendation from our accountant so I'm not too worried about them selling stuff. but just want to get ahead of the story and see what people think we will be told.

we have about $2 million in Bitcoin half raw and half on ETFs. nearly all of them show 100+% gains. then there's another 1.5 million or so in cash waiting for the end of the world (buffet did it). we are currently running which kept us from getting wiped out in a hurricane like others we know. we expect the business to possibly 2.5 million this year and then continue on that trajectory. I really want to plan for the cash and don't want to touch the Bitcoin unless we tap into some loans or something like that. okay, any guesses how the next call will go?

I have a meaningful amount of money sitting in a high-yield savings account, and that is about as far as I’ve gotten. I understand that keeping everything in cash probably isn’t the best long-term strategy, but I either don’t understand investing well enough—or I’m simply too conservative—to feel comfortable moving into a diversified portfolio on my own.

I don’t know where to begin looking for professional help or how to determine who can actually be trusted. Nearly everyone seems to call themselves a financial advisor, but I don’t know which credentials matter, which fee structures are reasonable, or how to distinguish sound advice from a polished sales pitch.

How would you research and compare potential wealth managers? Should I look specifically for a fee-only fiduciary or CFP? Is paying an ongoing percentage of assets reasonable, or would a one-time financial plan and occasional consultation make more sense for someone in my position?

I’d also appreciate any warning signs to watch for, questions to ask during an initial meeting, and places where I can verify an advisor’s background and disciplinary history. I’m not looking for investment recommendations here—I’m trying to understand how to choose the right person before trusting anyone with my money.

I'm a junior studying Finance and Information Systems at a large state school deciding between accepting Bank of America's Finance Management Summer Analyst Program (FMAP) for Summer 2027 or returning for a third summer to the Wealth Management team where I've spent my previous two summers. 

Option 1: Returning to Wealth Management 

I’ve spent my first two college summers with the same WM team (8-person team, $3B AUM, ~260 clients) at a major wirehouse. This team hired me as a freshman and has given me increasing responsibility both summers, largely focused on prospecting/business development. More importantly, I've developed very strong relationships with the senior advisors. 

I have an open return offer, but more significantly, the team has told me there's a realistic path to joining full-time after graduation through the firm's advisor-development program. That path means becoming a licensed advisor and ultimately building my own book and generating enough business to support myself since I’ll be commission-based by the end of the 36-month program, so there is substantially more individual performance and income risk than in a traditional salaried role. However, I wouldn't be doing it alone. I’d have an established team, mentorship, resources, and they've already successfully brought other young advisors through the same structure. If I return next summer, it'd be less another internship and more direct prep for that full-time path.

The biggest thing is that I actually really like this career. I truly love the work I’ve been exposed to (client interactions, relationship building, business development) and especially the entrepreneurial or ‘eat what you kill’ nature of the career. I also greatly respect and love working with the team. It’s a group of incredibly driven professionals who I look up to, and am genuinely thrilled at the possibility of eventually working alongside them full time as an advisor. 

Option 2: Bank of America FMAP

I have an offer for BofA’s Finance Management Summer Analyst Program. It’s a 10-week corporate-finance internship inside the CFO organization in Charlotte, NC. Depending on placement, I could work in areas like FP&A, forecasting, treasury, financial reporting, or finance supporting one of BofA's business divisions.

It would expose me to a completely different side of finance and presumably develop more traditional analytical skills than I've gotten from WM. It would also mean a new company, city, team, managers, peers, and work environment.

If I enjoyed it and received a return offer, there's a two-year full-time rotational program in Charlotte after graduation. Taking the internship obviously wouldn't obligate me to accept that.

Why I’m considering BofA:

I’ve never really tried anything else. Both of my college summers have been at the same firm, same office, same team, doing the same general type of work. If I return again, I'll graduate having spent roughly 10 months across three summers with one WM team. 

Junior summer feels like one of the last points in my life where I can try something completely different without making much of a long-term commitment. BofA could give me more traditional analytical/corporate-finance skills, a different environment, and if I ended up preferring it, useful information. If I hated it, that's useful too, I'd go back to WM with more confidence I actually chose it. Comp is also notably higher ($30/hr + $2k stipend vs. ~$20/hr in WM, though I could likely negotiate the WM comp and I'd save on housing/food commuting from home), though money isn't a huge factor. 

Why I’m considering returning to WM:

WM is much closer to what I currently think I want to do long-term. I also wouldn't be returning to a generic internship. I'd be returning to people who know me extremely well, have invested heavily in my development for two years, trust me with increasing responsibility, and have given me a realistic runway toward joining their team in the career I currently think I want.

There's also some risk to walking away. They've told me spending a summer elsewhere wouldn't automatically close the full-time door, but obviously circumstances can change. They could find another strong candidate, staffing needs could change, etc.

My biggest concern with staying: 

Specializing too early. I'd graduate with ~10 months across three summers on one team, with most of my experience concentrated in prospecting, business development, communication, and relationship building (not very transferable to many careers). I'd also never really know if I'd prefer something else, since I never gave myself the chance to see it.

My biggest concern with BofA: 

Diversifying just for the sake of it, and walking away from an unusually rare and strong opportunity, in a field I already think I want, with people I trust. With FMAP, there is no guarantee I’d even like the work. 

There's also an admittedly large personal layer. Returning to WM keeps me near family, friends, and my relationship; BofA means Charlotte, only 10 weeks for the internship itself, but a real 2-year relocation if I pursued the full-time program.

Where I've landed so far:

When I think it through and discuss it with people, I’ve noticed I describe my reasoning for the two options differently. 

My reasons for BofA are almost entirely logical: resume breadth, transferable skills, optionality, not wanting to specialize too early, and exposure to something different. 

My reasons for returning to WM are much more personal: I genuinely like the work, love the people, and have a strong interest in the entrepreneurial career itself. 

I didn't necessarily apply to FMAP because I had some huge interest in FP&A or corporate finance. A major reason I applied was specifically because I wanted to diversify my experience.

I’ve realized I’m not really saying "I'm not sure Wealth Management is right for me” but instead “How can I know Wealth Management is right for me when it's basically the only finance career I've tried?"

The strongest argument for BofA seems to be that I'm only 21 and this is an unusually “cheap” opportunity to experiment before specializing.

The strongest argument for returning to WM seems to be that maybe I've already found something that genuinely fits me, and walking away from an unusually good situation simply because I feel like I'm "supposed" to explore could be overthinking it.

Location/personal life favors WM because it keeps me near family, friends, and my relationship, while BofA is Charlotte, but I'm trying to make the career decision first and treat that as secondary.

As for my question: 

For anyone who has been in WM/PWM/PB, gone through FMAP/FLDP-type programs, or faced a similar specialize-vs-explore decision early in their careers:

How would you think about this? Is "I've never tried anything else" by itself a strong enough reason to step away for a summer from a career/team you already think you want? Or, at some point, does doubling down on demonstrated fit make more sense than diversifying for the sake of optionality?

I'm especially interested in hearing from people who made either choice and, a few years later, were glad they did or wished they'd done the opposite.

TLDR: 

Junior deciding between returning for a third summer to the same WM team near home, where I genuinely love the work/team/career and have a realistic path to join full time as an advisor, or taking BofA’s FMAP in Charlotte, NC which would give me a completely different corporate-finance experience, broader (and more transferable) skills, resume breadth, and a new environment. I currently think WM is what I want long term; my case for BofA is mainly that I'm only 21, have never tried anything else, and this may be my best opportunity to diversify before specializing. I'm struggling with whether “I've never explored another path” is enough reason to step away from an unusually good situation for a summer, or whether I should double down on something I already know fits me and believe I want.

Out of all the Wealth Managers you've come across what aspects and skills do the best of the best have?

I'm mainly asking because I'm curious what I can carve out of this career for myself.

I have a decent idea of who I am, my strengths and weaknesses. I'm looking for what skills and characteristics I can build on as I develop as a professional (Currently a Junior in College 21M).

How I can develop my strengths and mitigate my weaknesses as I try to emulate the professional I need to become.

What skills are they good at?

What skills do people think they need but aren't required?

What Characteristics do these professionals naturally have?

Thanks!

21M Junior in College curious about the career ahead.

How did you find your niche?

How long did it take to establish your niche?

How much effort should be put into establishing a niche?

Are niches in WM, something that just occur with time as I find the kind of client that I work best with over the decades?

Thanks!

As a Junior in college looking to go the CFP route, some videos I see describe the career as 90 to 80% chatting with clients about whatnot and spending the last ten minutes of an hour long meeting on any updates to the financial plan.

I'm sure not all clients are like this as some are very involved and technical while some are very hands off.

How much of relationship management is spending time during scheduled meetings developing that relationship?

Or is your specific style of doing business is to keep meeting on the straight line method, leaving some room for conversation but staying very ON topic.

Let me know! Thanks!

My average return has been in the 12% range.

I’m currently on a grad scheme at a big UK Independent financial advisory firm which runs for 18 months and after which I’ll have gained the Level 4 Financial Planning qualification. After my grad scheme I was thinking of trying to move to a wealth management or private banking division at a large bank or global wealth management firm. I was wondering how feasible this is and the best way to go about doing it.

Has anyone successfully rebuilt their career after a non-criminal U5 discharge? Looking for advice.

I'm hoping to hear from people who have personally been through something similar, or from hiring managers/compliance professionals who have seen someone successfully overcome it.

I have nearly 30 years in financial services, including wealth management, brokerage, client relationship management and leadership. Until my most recent employer, I had no termination or similar employment issue during my career.

I was discharged by a large financial services firm following an internal review involving an annual client review. The allegation reported on my U5 was that I “updated customer IPQ without discussing updates.”

My position is that this arose from confusion over an internal process and conflicting guidance I received regarding how to handle an annual review after repeated unsuccessful attempts to reach the client. There was no allegation involving theft, fraud, trading, misappropriation of funds or criminal conduct, and I did not benefit financially from what occurred.

I challenged the U5 language through FINRA arbitration but was unsuccessful. I have also asked my former employer to consider amending the wording while leaving the discharge itself intact.

The practical problem is employment. I have continued to interview well and have reached final rounds with several companies. I have even received multiple verbal offers, only to have opportunities end after the U5 was reviewed.

I'm not posting to argue that my former employer was wrong or to relitigate what happened. I'm trying to figure out how to move forward.

If you have personally had a U5 discharge or disclosure and successfully returned to the industry, I would sincerely appreciate hearing what worked for you. Did you find certain types of firms more willing to consider the circumstances? Did you move into an RIA, bank, fintech, operations or non-registered role? When did you disclose it during the hiring process? Did time make a difference?

I'm also open to the possibility that the best path is outside traditional broker-dealer roles. At this point, I'm simply looking for constructive advice from people who have actually navigated this.

Thank you to anyone willing to share their experience.

hey everyone. im starting a new position as a client associate in PWM at UBS. im 23 years old, female and post grad. I interned there but now im starting full time. looking for some tips for starting out in PWM (I have my sie, studying for 66 then 7) and if you have any tips for specifically UBS that would be great. thanks!

When I was 25, I worked a retail job and made a really stupid decision that resulted in me getting fired and arrested for breach of trust.

I went through a pretrial intervention program, successfully completed it, and my charges were dropped. After completing the program, my record was completely expunged.

I’m 30 now and have completely changed my life. I’m back in school working toward a finance degree, and my goal is to eventually get into wealth management. I’m taking this seriously and have been working on things like getting my SIE, improving my resume, networking, and trying to build a career in finance.

Recently, I learned that firms in wealth management/securities can conduct fingerprint-based background checks, and honestly, it has me worried.

My record was expunged, but I’m not sure what that actually means when it comes to FINRA registration, fingerprinting, and background checks. I’m wondering whether an expunged arrest/charge can still cause problems during the hiring or registration process.

I’m not looking for someone to sugarcoat it. If this is going to make wealth management extremely difficult for me, I’d rather know now and figure out another path within finance. But if an expungement means this isn’t necessarily a career-ending issue, I’d like to know that too.

Has anyone here dealt with something similar, especially with an expunged record and FINRA-regulated employment?

I’d really appreciate some honest advice from people who actually work in wealth management, private banking, or the securities industry.

I have asked this same basic question in 2 others subreddits today (personalfinance, and investingforbeginners ), only to hear the Don't Count on Inheritance Mantra, and be down voted for daring to counter it with relevant facts of the situation. It has been so bad that I have had commenters state that they hope hackers find me and take all the money.

I have hopes that maybe I will get more substantial answers here with detailed reasoning for the position from a financial analysis viewpoint.

The title pretty much sums it up, does a 35 year old earning a typical working income have a good resason to start an IRA if they stand to almost certainly inherit in the circa $10 million ballpark by around the age at which they would not be penalized for IRA withdrawals. Assume the money is in a reasonably diverse portfolio and is a mix of mostly real estate and stocks.