Goldman Sachs Mock Interview
Master 40 Goldman Sachs interview questions covering technical skills, market knowledge, and cultural fit.
Question 9 of 40
What are the first steps you would take to help someone make their first investment?
How to Answer
Entry Level
General
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Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
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.
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
"If I were to help someone with their first investments, I would first remind them that investing can be very simple. I would speak in terms that anyone could understand and exercise patience when explaining terms and processes. I would ensure that the client's finances were in order, so they knew what they could afford to invest every month. Then, I would set some achievable and basic goals."
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
"Understanding terminology is fundamental, so I would first share some resources to help this new investor understand the industry's language. Then, I would perform a financial health assessment and a risk tolerance assessment. I would ask for their top three most important financial goals and what they believed was a reasonable timeline for the achievement of each goal. From there, I would make investment recommendations."
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