The interviewer wants to see what kind of advice you would give a new investor. This question will take you back to the basics, especially if you are a seasoned wealth manager in high-end wealth management. Give an answer that shows your professional knowledge, company knowledge, and ability to guide and teach people who are not as experienced as you.
For example, anyone can open a Marcus High Yield Online Savings account, a recent offering from Goldman Sachs, and users can start earning interest with just a low minimum of 1 in their account. To maximize the higher APY, they encourage having a much higher account balance. However, opening a private wealth management account generally requires a minimum investment of ten million dollars.
