35 UBS Wealth Management Interview Questions & Answers
Below is a list of our UBS Wealth Management interview questions. Click on any interview question to view our answer advice and answer examples. You may view 5 answer examples before our paywall loads. Afterwards, you'll be asked to upgrade to view the rest of our answers.
Behavioral
1. What questions do you have for me?
What You Need to Know
You are interviewing the company as much as they are interviewing you. This exit question helps your interviewer assess your genuine interest in working with them. The more questions you ask the more likely you'll come accross as an efective communicator and that you're self-guided in your work.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I have several questions. For starters, is this a new opening due to growth in the company, or am I filling a vacancy? If so, how long has this position been vacant?"
Written by Kevin Downey on July 6th, 2022
2nd Answer Example
"Thank you. I've prepared several questions before the interview and jotted a few down throughout the interview. One question I have about one of the other questions in this set; regarding getting behind products that a rep might not believe in. Are their offerings UBS Wealth management stands behind that you've had trouble getting your reps to embrace?"
Written by Kevin Downey on July 6th, 2022
Behavioral
2. How do you strike a balance between your professional life and your personal life?
What You Need to Know
Engaging in a formal recruiting process takes time and money. Not only does being short staffed wear down and burn out existing staff, but planning, recruitment, and employee selection is rigorous, takes time, and requires diligence and prudence. So your interviewer wants to make absolutely sure you are the right person for the job, ensuring the person they choose can handle stress, and won't bring their personal issues into work further burdening and wearing down the team. Your answer should reveal your emotional intelligence, if you are governed by your stress, and how your stress from work, home, or both impacts your performance and has the potential to impact others on your team. So they want to make sure you have solid skills to proactively manage balancing both your work life and personal life. It's okay if you occasionally take your work home with you, or if you need to take time off from work for personal matters. The interviewer wants to know how you strike a balance, and aren't governed by chaos.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I know how important it is to avoid burnout. For that reason, I create a solid work/life balance for myself by keeping my day organized and sticking to my schedule as much as possible. I spend my weekends and evenings with my family and friends, doing things I love, and that energizes me, such as going for a run, hiking in the mountains, or taking a bike ride. Then there are my methods for ensuring my time management is habitual. No matter what alarm clock you use, the snooze button is there. I never hit mine. I keep a jar of chocolate-covered espresso beans in a jar next to my bed. When my alarm goes off, I grab a few of those and pop them in my mouth. Then I'm ready. If I have a lot on my plate at work or at home, I evaluate every piece of the puzzle. I make it all fit into my week. Where there's a will, there's a way. Just spending that bit of time at the forefront to strategize my week allows things to feel more sustainable. I'm proactive, I guess. Reaction is rarely sustainable, in my humble opinion."
Written by Kevin Downey on July 6th, 2022
2nd Answer Example
"That's an interesting question. I live in the moment almost all the time, and find emotional balance around the clock. If a person isn't consistently balanced, I don't think they can find balance whether they are under extreme pressure at work or trying to relax at home. Like that old metaphor, when you are on the rim of the wheel you'll go up and then you'll go down, but when you are centered in the hub of the wheel, you are in the immovable spot."
Written by Kevin Downey on July 6th, 2022
Behavioral
3. What do you do for fun?
What You Need to Know
This wrap-up question seeks to gain a more casual insight into your personality. Make yourself more interesting. Make yourself relatable. This could generate connective conversation, which could leave the interviewer with a memorable experience. Find relatable points of common interest and hobbies. The less guarded you are about your personal life, the more it reveals how you'll foster interpersonal work relationships. Your interviewer will take this to evaluate your fit into the team.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I enjoy reading and watching documentaries a lot. I also love getting on my bike and riding through the park. Mountain biking too. When I can, I go to the mountains and go snowboarding. But more than anything I enjoy spending the evening snuggling on the couch with my significant other and streaming something on the TV."
Written by Kevin Downey on July 6th, 2022
2nd Answer Example
"I pretty much have the most fun when I'm learning something new. I'm not one for watching that much television unless it is a documentary movie or series. I'm mostly about having new experiences and learning something new."
Written by Kevin Downey on July 6th, 2022
Behavioral
4. How would you approach selling an investment product you did not believe in?
What You Need to Know
It may seem obvious to some that you should never sell an investment product in which you did not believe. However, this tests your view and understanding of the products of your industry. Perhaps the product in question is one which your employers have seen great value in, but which you have trouble selling or poorly grasp the benefits of. So, the interviewer wants to know that you will uphold the integrity of UBS Wealth Management while supporting the offerings they stand behind. They also want to again assess your integrity, and your ability to step outside of your comfort zone.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"Good question. Obviously if the product lacked integrity or was an outdated or poor offering I wouldn't push it. However, if it was a product I didn't personally favor and my employer offered it and wanted to highlight it, I suppose I'd try to better understand its benefits, how it would apply to my clients, and work towards learning from others who have successfully sworn by it's benefits. I'll always do my best to share and support my employers vision."
Written by Kevin Downey on July 6th, 2022
2nd Answer Example
"Integrity is my number one core value, and I take a lot of pride in that. I'd never push a product that serves no benefit to my clients. They are trusting me, and I value their trust. I wouldn't ever do anything other than preserve that trust and build upon it."
Written by Kevin Downey on July 6th, 2022
Behavioral
5. Do you have any questions about this job, or working for UBS Wealth Management?
What You Need to Know
Remember, it is not a badge of honor to say that you have no questions. You are interviewing them as much as they are interviewing you. Many candidates feel that by saying they have no questions it will reflect having fully researched the job. But this sends the opposite message. Asking insightful questions reflects engagement and interest. Always keep asking questions. If you aren't sure what questions to ask, start by asking yourself what questions you should ask and build from there.
Here are a few questions examples; "How has UBS Wealth Management embraced FinTech advancements this year?" "What is your favorite part about working for UBS Wealth Management?" "What is UBS Wealth Management's biggest goal in the next 12 months?" "What do you see as the most significant change in the wealth management industry over the next two years?" "Is there anything from my resume, or our conversation, that I can clarify for you?" "Is there any reason why you would not hire me?"
By asking questions that you wouldn't otherwise have asked unless you visited their website reflects the continual lengths you go to ensure you are putting your all in and going the extra mile. It also indicates you are self-guided in your work. Typically, those who are inquisitive by nature are resourceful and think outside of the box.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I would like to ask if there is anything in my background on which you need clarification? Also, after discussing everything today, is there any particular reason why I would not be the best fit for this role with UBS Wealth Management?"
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Thank you for asking! A couple of questions come to mind. What do you see as the biggest challenge UBS Wealth Management will be facing in the next 12 months? Also, what is your employee turnover rate for this exact role? Lastly, could you tell me about the retention plan you currently have in place?"
Written by Rachelle Enns on July 6th, 2022
Behavioral
6. Do you have a personal or professional mission statement?
What You Need to Know
The more career minded a professional is, the more they'll build their career as they would build a business. Most successful businesses build their company and brands by focusing on their core values and missions statements. This helps them build a loyal following among their stakeholders (clients and future partnerships). Developing your own core values and missions statements will help you align yourself with the company you are interested in partnering with. Think of this question as addressing your credibility statement, ensuring you come across as trustworthy and honest with your clients, peers, and management.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I work to better the lives of each client. That is my mission. I want my clients to feel that I care about their financial wellness and their long-term financial plan. They should always know and be able to see that I will do what it takes to ensure they are comfortable in the long-term."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"My mission statement is to remain humble as I grow my career, and always look for opportunities to grow and learn. The more I know, the better position my clients will be in; however, it takes humility to admit there is always more to learn."
Written by Rachelle Enns on July 6th, 2022
Anonymous Interview Answers with Professional Feedback
Anonymous Answer
Marcie's Feedback
Behavioral
7. Have you ever violated a non-disclosure, privacy, or confidentiality agreement?
What You Need to Know
As a professional at UBS Wealth Management, you will be privy to a lot of sensitive or confidential information on your clients. Therefore, it's highly likely UBS Wealth Management requires confidentiality agreements for each client you onboard. Discuss your thoughts on confidentiality agreements, assuring your interviewer you are honest and full of integrity.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I have signed NDA's and confidentiality agreements with my former employers as well as every client. As a professional in the wealth management industry, I also understand the importance of asking my clients to sign the same, so that everyone is protected. I hold myself accountable to confidentiality agreements and take pride in my honest character."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Before starting my internship, I was asked to sign a confidentiality agreement, which made complete sense to me considering the information I was privy to throughout that time. Discretion has never been an issue for me, and I am happy to comply with any matters of confidence on behalf of UBS Wealth Management."
Written by Rachelle Enns on July 6th, 2022
Behavioral
8. Would you cold call for a year if it guaranteed you a steady client list?
What You Need to Know
Show the interviewer that you understand a lucrative career comes from hard work. This includes investing time in cold calling, prospecting, and working on developing new business opportunities, while maintaining your focus on your existing portfolio and tending to your current client list. UBS Wealth Management wants assurance that you are willing to put in the hard work required to later reap the rewards of a stable pipeline of business.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I am more than willing to put in time and sweat equity into building my book of business via cold calling; My years of experience in client development within wealth management gives me a good amount of latitude; however, I will never stop trying. I am fully prepared to roll up my sleeves and make many cold calls as needed to maximize my success."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"I thoroughly enjoy meeting and connecting with people, and I love the idea of getting them to say yes, even when they weren't initially inclined to say no! I cannot expect success to be handed to me overnight. So, yes, I'd be willing to cold call for a year to catapult my career. Upfront investment in the long-term health of my job is an approach that I can get behind."
Written by Rachelle Enns on July 6th, 2022
Behavioral
9. Do you prefer to work independently, or with partners?
What You Need to Know
They're asking where you fall on the scale of being an introvert versus an extrovert. Taking an analytical approach to one's work is frequently classified as more of a singular task, whereas interpersonal work is deemed more collaborative and team-oriented. Most strike a balance between both. Either way, be honest with the interviewer about your preferences without leaning too far in either direction.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I understand that this role requires me to work both independently and with the partners and team at UBS Wealth Management. In my current role, I work independently around 75% of the time, and I do appreciate the autonomy. With that said, around 25% of the time when I am collaborating with the team, I feel encouraged, challenged, and refreshed. It's great to have a balance of independence and teamwork."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Being newer to my career, the more I can learn from partners and teammates, the better I will become in my career. So, although I can certainly work on independent tasks, I do prefer at this time to have more interaction with others, giving me opportunities to learn."
Written by Rachelle Enns on July 6th, 2022
Anonymous Interview Answers with Professional Feedback
Anonymous Answer
Rachelle's Feedback
Behavioral
10. As a Financial Advisor, would you describe yourself as analytical minded?
What You Need to Know
Someone who has a strong attention to detail and is singularly focussed is typically regarded as analytically minded. In what ways do you fit this mold? Describe your methodical approach to your work.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"As a Financial Advisor, I use my analytical skills when detecting patterns in finance trends, observing and interpreting data, theorizing on where the market is going, or brainstorming ideas for my clients when their decisions lean on multiple factors and options available in the market. I take pride in my analytical abilities because they help me to do my job exceptionally well while also benefitting my clients greatly."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"My analytical skills are getting stronger every day, and I had the opportunity to hone in on them during my time in university. In school, I would collect and analyze information, problem-solve, and make decisions based on data. I will bring my analytical strengths to UBS Wealth Management to help you solve problems and ensure your clients see the most financial success possible."
Written by Rachelle Enns on July 6th, 2022
Behavioral
11. Many UBS Wealth Management employees take full ownership of their career. How would you describe your entrepreneurial nature?
What You Need to Know
They want to ensure you're capable of running your portfolio as though it's your own business, being responsible for building your own client list, maintaining relationships, and adjusting your business to the ever-changing economic environments and trends that we face today. Define what an entrepreneurial mindset means to you, and how you go about exercising that mentality in your day to day work. Offer the system, processes and overall approach you take, which you proudly attribute to your success. Show them that you can walk the walk and talk the talk.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"For me, it's important that I continue to manage my portfolio of clients as though it's my own business. To do this, I pay for and attend industry conferences regularly. Rather than running straight to management, I reverse engineer problems and conduct research when an issue arises. Also, I take the opportunity to read as much as I can. I absorb myself wholly in topics related to finance, investments, and wealth management."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"An entrepreneurial mindset, to me, means to continually seek out new challenges and think about my career vision every day. Also, I am an exceptional problem solver. I think quickly and can get myself out of most situations by looking at the issue from various angles. I willingly accept feedback and criticism, then take that feedback to find new ways of working. These are just some of the entrepreneurial qualities I will bring to UBS Wealth Management and my clients."
Written by Rachelle Enns on July 6th, 2022
Career Goals
12. Why wealth management? Where would you like to steer your career from here?
What You Need to Know
The interviewer is assessing your passion for your wealth management career. Discuss your professional history, what started you down Financial Advisor career path, how your post-secondary education propelled you forward, to where you hope to grow within UBS Wealth Management's organization. Align your ambitions with UBS Wealth Management, and map up what you theoretically would hope to take your career with them. Exhibit enthusiasm for the growth opportunities within.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I obtained my masters' degree in finance thinking that I would be joining a corporate banking environment. That is until I met a seasoned financial investment advisor who shared with me her career path and successes. I loved the flexibility that she had in her career and that her income potential was never capped like mine would be in a corporate environment. It was history from there! Today, I would like to grow my career to include branch management or a regional position for UBS Wealth Management. "
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Growing up, my parents were always teaching me about planning for my financial future, so I believe the seed of interest was planted with me very early. I have a keen interest in making investment suggestions to help people create a sound financial plan. During university, I was the go-to person for other students who wanted to become involved in penny stocks, and from there, my interest flourished. As a recent finance graduate, I am ready to start my career as a junior advisor and work my way into a senior advisory role with UBS Wealth Management when the time is right."
Written by Rachelle Enns on July 6th, 2022
Communication
13. How would you explain the all-encompassing term of wealth management to someone unfamiliar with UBS Wealth Management?
What You Need to Know
There are many interpretive definitions for wealth and financial investment services and products, depending on where you go. The interviewer wants to ensure you can differentiate how UBS Wealth Management would define what they do. More so, they're interested in how you would explain this to your potential clients as intuitively as possible in a manner that reflects well upon their brand. Briefly discuss your understanding of UBS Wealth Management, and the vision they embrace, in a way that anyone outside of the industry could follow.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"For someone who is not familiar with UBS Wealth Management or even the term wealth management, I would describe the services as services for the affluent that include financial planning, portfolio management, and investment guidance. From research, I understand that the top products offered at UBS Wealth Management include (A), (B), and (C) which fall into these categories."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"The easiest way to understand wealth management, and what you do at UBS Wealth Management is the structured management of money, for those who are affluent, conscious about making their money work for them and conscious of planning for life's milestones such as retirement."
Written by Rachelle Enns on July 6th, 2022
Communication
14. How do you approach a client's rejection or objections?
What You Need to Know
This is an opportunity to advertise your merits by giving a sample of your client facing sales approach. A big part of that is how you close with clients who are more resistant or timid. Talk to the interviewer about any formal training you have in objection/rejection handling. Discuss how you handle, and bounce back from, rejection.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I love the quote by Tom Hopkins that says, 'Begin always expecting good things to happen.' This quote encompasses my approach to sales and even client rejection. I know that my offering is better than the rest, and I stand behind my work and maintain integrity in everything that I do. The 'right' client for me is one that will see these qualities right away and be willing to hear me out, at the very least. When I hear the word 'no,' I understand 'not right now.' No is not forever, and I will continue to massage even the 'no' relationships until they turn into a yes!"
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"To be a successful professional in the wealth management industry, I must rely on my reputation, referrals from others, and professional follow up. For these reasons, no matter how a customer rejection might make me feel, I vow to remain professional. I am a positive person by nature, so I when rejection comes my way, I will ask more questions to see if I can find the true source of the objection."
Written by Rachelle Enns on July 6th, 2022
Communication
15. What is your experience and comfort level with preparing and delivering presentations?
What You Need to Know
Part of what you may be expected to do at UBS Wealth Management could be planning, preparing, and delivering presentations to clients or other stakeholders. Public speaking can be intimidating, and anxiety inducing. It's okay to be nervous; however, the interviewer wants to see that these nerves do not get in the way of your preparation and ability to communicate well. If applicable, discuss any relevant courses or training. Assure the interviewer that you are capable in this regard by detailing your experience level, and that you have the leadership acumen for public speaking.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"In my current role, I regularly present to my clients, and my team of 20 advisors. To help me gain confidence as a speaker and presenter, I became a Toastmasters member two years ago. Since joining, I have taken courses such as 'The Better Speaker' series, 'Beginning Your Speech,' and 'Concluding Your Speech.' I also have training in PowerPoint, ensuring that my presentations are visually engaging."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"The bulk of my presentation experience comes from my time in university, where I prepared a variety of speeches and decks. I am a confident public speaker and was able to present to a group of my peers without any issues. I look forward to gaining even more experience in preparing and delivering professional presentations for clients and internal stakeholders."
Written by Rachelle Enns on July 6th, 2022
Communication
16. How would you build a relationship with a client who has an intimidating personality?
What You Need to Know
In the wealth management industry, you will come across many personalities; some of which are strong willed or intimidating by nature. The interviewer wants to see that you have the temperament and maturity to deal with and cater to those with large egos or more abrasive demeanors no differently than your more amicable clients. This is a test of your self-control and professionalism. If you have come across a situation like this, discuss the difficulties you faced and your approach.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"Many of my clients are wealthy business professionals who are busy and do not have a lot of time to fuss around conversations. Sometimes they can come across as intimidating; however, I remind myself that they have a lot on the go, and I need to make every conversation count. I am proud of the work that I deliver, and I stand behind it, no matter how intimidating or brief a client can be."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Because of the vulnerable nature of wealth planning and management, I can understand how some people may feel intimidated by the whole thing; thus, coming across a bit harsh or intimidating themselves. If this situation occurs, I will focus less on how I am feeling and more about how they are feeling."
Written by Rachelle Enns on July 6th, 2022
Communication
17. How do you establish yourself as a trusted source for wealth management and finance information for your potential clients?
What You Need to Know
Discuss how you show potential clients you're their go-to source when it comes to their financial future. Securing your client's confidence and trust in your experience and expertise, that you're invested in providing them with the most up-to-date information, while protecting their assets while helping them to grow their financial situation is the aim. Delve into your experience and approach, your communication style, and any other key factors you'd attribute to your success in this regard.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"For me, as a wealth management professional, it's most important that I show my clients the value they would receive from working with me, long before they officially hire me. Every quarter, I provide my clients, and prospects alike, with an in-depth market report. I research and write the report myself, ensuring that I am a thought leader and someone they can trust. If big news comes out, I aim to be the first person in the inbox, offering them tips and tricks on how to max out their investments."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Showing that I am with them every step of the way is crucial. I will give reading recommendations to my prospective clients and do everything I can to empower them. When a potential client sees that I am looking out for them, even when they haven't committed to working with me yet, I bring trust and value to the equation."
Written by Rachelle Enns on July 6th, 2022
Communication
18. How would you explain mutual funds to someone unfamiliar with the concept?
What You Need to Know
As a wealth management professional, mutual funds may be seem basic in concept. Yet, how well you are you able to explain financial products to your clients? This is a test of your communication skills. UBS Wealth Management has a reputation for intuitively educating their clients on their products and services. In helping them to understand common concepts in wealth management, they are able to better serve their clients. Show the interviewer that you would be able to represent their brand simply by describing what mutual funds are, while highlighting their benefits.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I understand that the world of wealth management can be overwhelming and complicated, which is why it's imperative that I can explain concepts and products very simply. All a client wants to know is if the product is right for them, why it's right, and what kind of results they can expect. For that reason, I would explain mutual funds as a professionally managed money pool. The money pool is used to purchase securities, ideally resulting in a financial return for every investor."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Mutual funds are a basic financial concept, so it's important that every one of my clients has a solid idea on how they work. I would tell a client that when they buy a mutual fund, they are pooling their money with many other investors. This pooled money lets them invest more widely for a lower cost. A professional manager decides where to invest this money pool. Mutual funds are flexible, allowing a client to buy or sell their funds at any time."
Written by Rachelle Enns on July 6th, 2022
Customer Service
19. UBS Wealth Management is client-focussed. How do you foster lasting relations with your clients?
What You Need to Know
Many employees in the wealth management industry are commission-based and rely on excellent client-relationships. For these reasons, it's in your best interest to have a solid strategy when it comes to building strong relationships with new clients, while building upon your existing client base at the same time. Discuss some steps that you take to ensure you're constantly fostering positive and profitable client relationships.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"It's important to me that I take time out of every day to strengthen relationships with my prospective customers as well as my existing client base. For me, it's all about adding value to my offering. This value could be in the form of my monthly newsletters, or the market reports that I publish quarterly. I spend the time to craft interesting downloads, whitepapers, and other PDFs focused on educating my contacts. This way, they become more comfortable with me and being to see me as a thought leader in wealth management. In turn, because of these frequent touchpoints, I am often the first name they think of when they are ready to build a stronger financial future."
2nd Answer Example
"I think that one of the keys to client connection, as a Financial Advisor, is to have an approachable, professional brand. I learned in business school that humanizing your brand was essential for client engagement. Everyone wants to feel a connection with their advisor, and one built on trust and loyalty. I plan to approach client engagement in a hands-on manner that includes as many phone calls, follow-ups, and in-person meetings as possible."
Anonymous Interview Answers with Professional Feedback
Anonymous Answer
Rachelle's Feedback
Education
20. In your opinion, what factors most impact the growth of the wealth management industry?
What You Need to Know
The interviewer would like assurance that you understand how the wealth management industry works, and the factors that could impact your success at UBS Wealth Management. Be prepared to discuss any items you have recently read up on in the news, or talk about the sources that you turn to when you are looking for reliable and up-to-date information on what the wealth management industry is doing.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I follow many blogs and publications from companies such as your own, JP Morgan, and Wells Fargo. The factors and topics touched on the most often include previous financial crisis, adapting to quickly changing market environments, shareholder expectations, strict regulations that change often, and milestones in tech. I believe that together, all of these topics shape the wealth management industry in a sometimes unpredictable way."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"According to a very intriguing report released recently by Deloitte, there are ten primary factors that impact the wealth management industry. These include a higher intensity of competition, increased regulatory burdens, a new generation of investors who think entirely differently, and the introduction of artificial intelligence and machine learning into the wealth management industry. These are to name a few. It's important to me that I keep up with these rising trends as they directly impact my career."
Written by Rachelle Enns on July 6th, 2022
Education
21. Walk me through your education and how it guided your wealth management career.
What You Need to Know
Your interviewer wants you to go deeper into your experience, beyond what is spelled out on your resume. Bring your education to life by sharing how your education prepared you for this job with UBS Wealth Management. Expand upon your degree by describing which coursework had the most impact on you, sharing powerful or engaging experiences with your professors, or any other mentors you worked with. Share any unconventional experiences that taught you some life lessons you've since applied and put to practice for your career.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I earned my masters' degree in finance from ABC University. My degree exposed me to the financial world and specific topics such as bonds, econometrics, economics, corporate finance, governmental finance, individual investment, statistics, and portfolio management. I am grateful for my education and how well it has supported me in my career."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"I will never be finished when it comes to my education and learning. Although my degree is in business administration, and not specifically finance, my school did prepare me very well for a career in wealth management. I took courses in economics, finance, management, and marketing; all important facets of wealth management."
Written by Rachelle Enns on July 6th, 2022
Education
22. If you have earned it already, are you interested in pursuing a Certified Financial Planner (CFP) designation?
What You Need to Know
Being a Certified Financial Planner (this may be called something else in your region) is a prestigious designation that exhibits to your clients you're fully equipped to meet their needs. Discuss what you learned, emphasizing the importance and value which you place on continued education. If you already possess industry certification(s) that is great! If you are not yet certified, assure them pursuing further industry designations is in your short-term career goals.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I believe it's imperative to be part of a national or federal body that educates and designated professionals in the wealth management industry. I am a certified financial planner and do enjoy the benefits of having the CFP letters behind my name. They signify trust and knowledge, which are two things for which an investor should always look. I will continue to educate myself, past the CFP designation as my career goes on."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"I have registered for my first information session and plan to earn my CFP designation in the next 2.5 years; once my application is approved by the board. I look forward to offering additional knowledge to my clients, and this designation is an important first step."
Written by Rachelle Enns on July 6th, 2022
EQ
23. How does it emotionally impact you when you suffer a setback in your portfolio?
What You Need to Know
UBS Wealth Management is looking for candidates that can handle the ups-and-downs of the industry. Be prepared to discuss how you approach professional setbacks. Touch on the emotional impact, how you typically cope, and your philosophy and attitude when your wealth management portfolio takes a hit.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"As a commission-driven Financial Advisor, I am competitive with myself, my past performance, and hyper-targeted when it comes to achieving my goals. I become internally frustrated when I do not meet my goals or a 'done deal' with a client falls through. When this happens, I do a rundown of what I could have done differently, trying to pinpoint where things could have gone wrong. I aim to learn from the situation so that it doesn't hold me back again."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"I allow myself a moment to be frustrated when a setback occurs, but never in front of a client or colleague. I am very good at keeping my cool and maintaining positive energy. I've lost clients before, from what I perceived to be closed business, and it sometimes hurts, especially financially; however, I never let a situation like that hold me back. In fact, setbacks fuel me to work even harder the second time around."
Written by Rachelle Enns on July 6th, 2022
Experience
24. How have you professionally grown in the last five years?
What You Need to Know
Your interviewer wants to know your ambitions and goals, your progression towards actualizing them, and how you've grown professionally over the last five years. Attitude is everything. One's self-development should be as never-ending as one's determination. Discuss what you learned along the way on your career journey, and how those experiences paved your career path in ways you hadn't expected.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I have learned a great deal from my current organization, and have gained many valuable new skills. I noticed in the UBS Wealth Management job posting that you are seeking someone with solid results in cold calling, gaining referrals and networking. These are skills that I have worked very hard to master over the past few years. I make around 100 cold calls per week, and my referral rate is well above 40%; nearly double that of my co-workers. These are just some of the skills that will help me to succeed with UBS Wealth Management."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"During my internship, I learned a lot about the art of conversation and getting to know clients by asking the right questions and being unafraid to dig deeper. In your job posting, you mention looking for a junior advisor who is curious by nature, knows how to ask the best discovery questions, and is great with research. These are just some of the skills I have recently developed, and I am eager to apply them in this role with UBS Wealth Management."
Written by Rachelle Enns on July 6th, 2022
Experience
25. What’s the biggest challenge facing the wealth management industry today?
What You Need to Know
Your interviewer at UBS Wealth Management is gauging your experience level and industry knowledge. Whether you're a seasoned financial planning professional, fresh-faced in your first role outside of university, or even transitioning to a new industry, they need assurances that you'll be self-guided in your work and won't need basic-training and to devote valuable time and resources getting you up to speed on your new role. Share your expertise and the breadth of your relevant industry knowledge.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I believe that one of the biggest challenges that the finance and wealth management industries face today is cybercrime in the form of data breaches and fraud. I recently read that financial cybercrime has increased by almost 500% over the last two years, causing a lot of distrust between customers and their financial service firms. To combat this, I always send a copy of our data security action plan and agreement to my customers, ensuring they have a full understanding of what my firm and I do, to keep their information safe and secure."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"From what I have read, and researched, FinTech companies are going to become even bigger and fiercer competitors to traditional financial and wealth management firms. I believe it's important that we begin to look at partnering with these tech-savvy startups rather than completely opposing them."
Written by Rachelle Enns on July 6th, 2022
Anonymous Interview Answers with Professional Feedback
Anonymous Answer
The second big challenge I am thinking of is ESG criteria. Environmental, Social, and Governance. This is very important as I think the world's different industries are changing towards more ESG awareness. For example, I recently read an article, which was explaining that Intermarché (a French supermarket brand) was changing its recipes because consumers were buying products looking at the app Yuka. Yuka is an app created to help people know if a product is good, healthy, and not a lot of additives. The financial sector will soon have to take that into account for example for investment purposes, for credit rating purposes."
Marcie's Feedback
Experience
26. What systems and tools do you turn to when performing your job.
What You Need to Know
Your interviewer wants to assess what kind of contributions you'd bring to their team and environment. At the same time, exude you'd be adaptable to their way of doing things as well. Familiarize yourself with the basic expectations of UBS Wealth Management's job posting. If you are new to your career, you can talk about any programs that you used in university or during your internship. Highlight your strengths, your flexibility, and that you are easy to work with. If there are aspects of your work-style which have greatly benefited your work in the past and which your coworkers have borrowed and adapted into their style, be sure to highlight this as well.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"First and foremost, I use my CRM all day long, and rely heavily on it when it comes to my pipeline of business and existing client portfolio. I use Capsule because it's a CRM that allows me to share progress with my team, should we be working on larger investment accounts together. Aside from my CRM, I also use email marketing automation software, allowing me to keep my leads warm with an email funnel that I have automated. A new tool that I love is NestEgg Estimator, which is a Google app that takes my client's finances and breaks them down into income, taxes, assets, and debt, better helping me to calculate their needs for retirement. The app allows me to play out various scenarios, such as changes in job, expenses, and spending."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"I have been teaching myself a few new tools, in anticipation for my first job in wealth management. These tools include Salesforce CRM, where I have been taking their free webinars and tutorials. I have used YouTube channels to learn additional tech such as Black Diamond, which is a cloud-based portfolio management platform. I understand that Black Diamond will help me with information aggregation, customizing reports, and other tasks required of me as a junior advisor."
Written by Rachelle Enns on July 6th, 2022
Experience
27. Do you have experience prospecting for new clients in a self guided position similar to this role at UBS Wealth Management?
What You Need to Know
The interviewer would like you to take them through your prospecting process. The primary purpose is to show the interviewer that you keep yourself organized and have a well thought out approach to building your business. Because this question is open-ended, it can be easy to go on and on about every small step that you take. Keep your answer on track while bringing your process to life!
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I have a few very effective techniques when it comes to prospecting for new customers. First, I make sure that all of my prospects are in my CRM so that I never skip a beat. I ask for referrals from all of my clients and make warm calls from that list. More passively, I write a lot of wealth management content and publish it on LinkedIn, positioning me as a thought leader and getting my name out there. I gain a lot of leads from this approach. Another highly effective prospecting technique has been attending networking events and joining my city's commerce board."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"As I build my business as a new financial advisor, it's important that I get my name out there through networking and getting to know people in my community. I volunteer a lot and attend many commerce meetings, which gives me exposure to new people and potential clients. I do a lot of social media marketing in the form of educational posts, which starts conversations online with prospective customers that I may not otherwise meet in person. I also spend time warm calling from my LinkedIn connections."
Written by Rachelle Enns on July 6th, 2022
Experience
28. How will your skills complement our teams at UBS Wealth Management?
What You Need to Know
To answer this question successfully, it's a great idea to first examine the job description and take note of the skills that UBS Wealth Management seems to request the most. It should be relatively self evident to see which keywords and skills they touch on in the posting for the position. Next, examine your work experience and highlight those less obvious transferable skills that you'll bring with you. Describe how they'll benefit you and your future teams on this next stage of your career.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I understand, after reading through your company website, that your mission is to help your clients achieve financial independence and freedom in retirement. My skills in retirement planning are strong, and my portfolio of work attests to this fact. I care about my clients in a way that they notice, which is why I gain such a high referral rate year after year. Lastly, because I have twelve years' experience in the wealth management industry, the time to train me will be significantly reduced, ensuring that I begin making a positive financial impact on UBS Wealth Management right away."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"I am highly technical and analytical and pick up on numbers and systems very quickly. I have already crafted a 30, 60, and 90-day plan to exceed my training expectations and targets. The plan includes doubling up on my cold calls and booking more in-person client meetings. These activities, along with my speed and eagerness, will ensure that I make an impact on the UBS Wealth Management bottom-line as soon as possible."
Written by Rachelle Enns on July 6th, 2022
Experience
29. How, as a Financial Advisor, do you feel about working in a highly commissioned role?
What You Need to Know
Depending on the structure at UBS Wealth Management and the role you are taking on, you may have a base pay, work on a guarantee, or be completely reliant only on the commissions you earn as a Financial Advisor. Working in a commission-based position is not for everyone! This question tests your comfort level with working on a commission basis. When delivering your answer, exude confidence in your abilities backed up by the strength of your portfolio.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I have worked in a commission-driven environment inside and outside of the wealth management industry. I have made a fantastic living doing so because I believe in my capabilities, I reach my goals, and I keep the promises that I make to myself and my clients."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Commission-driven environments are new to me; however, I like the idea that I earn money based on how hard I work. I am not afraid of hard work, so, for that reason, I believe I can flourish in a highly commissioned role."
Written by Rachelle Enns on July 6th, 2022
Experience
30. What are your pay expectations for this role?
What You Need to Know
Since UBS Wealth Management is involved in the finance and wealth management industry, it would be no surprise if they were very upfront when it comes to discussing your pay expectations compared to their offering. You want to be helpful to the interviewer while also sticking up for what you need, without pigeon-holing yourself too much. Answering this question well is a delicate balance. Also take into consideration any bonuses or incentives, your commute, retirement packages, what kind of job market it is, and this presents an opportunity to inquire what kind of benefits they may be offering as well. Avoid giving a wishy-washy answer. If you are newer to your career, the area, or this particular industry, and are unsure of what a fair ask may be, there are many reliable salary calculators available online.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I currently earn around $90,000 per year including commission. I am looking for compensation aligned with the greater responsibilities of this particular role while leaving room for more commission-based opportunities and career growth. Could you share with me what UBS Wealth Management is offering, for this position?"
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"As I am new to my career and the wealth management industry, I am happy to negotiate my earnings based on your typical salary for this role. From my research, I see that the average junior financial advisor in the San Francisco area earns in the $55K range. Is this correct to say?"
Written by Rachelle Enns on July 6th, 2022
Experience
31. What resources do you turn to for recent developments and trends in wealth management?
What You Need to Know
There are many resources in the wealth management industry, but the interviewer needs to know that you follow and take advice from only the best. In an online world where you can find any information you need, how do you ensure that your industry knowledge is up to date and informed by solid resources? Mention the reputable information sources that you depend on, share any recent developments you've learned about to stoke conversation, and feel free to ask the interviewer to share what sources they tap into. Asking for recommendations could break the ice and open up a memorable conversation.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I rely on a variety of resources to ensure that I get a broad scope of opinion and information. The sources that I rely on most include opinion pieces published on LinkedIn by my professional network, as well as online publications such as The Economist and Financial Advisor Magazine. If you have some resources to recommend, I would love to hear!"
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"The resources that I am most familiar with include Kiplinger, Forbes, and The Financial Advisor Magazine. It's important to me, as I grow my career in wealth management that I remain in-the-know but only through highly reputable resources. I am all ears if you have any reading and resource recommendations."
Written by Rachelle Enns on July 6th, 2022
Anonymous Interview Answers with Professional Feedback
Anonymous Answer
Rachelle's Feedback
Experience
32. How do you assess a client’s financial position in your initial meeting with them?
What You Need to Know
When it comes to a clients' financial position, and their financial risk tolerance, it's imperative that you, as a wealth management professional, know how to accurately and carefully assess their actual financial status. Show the interviewer at UBS Wealth Management that you can take the appropriate steps when first meeting or onboarding a new client.
Written by Rachelle Enns on July 6th, 2022
1st Answer Example
"As a responsible wealth management professional it is essential to me that my clients know their bandwidth when it comes to the risk they are willing to take, and where they want to be in the near, and far future. I saw a lot of pain during the economic downturn as so many investors over-estimated their ability to stomach the risk and the downside of investing. When first assessing a clients' actual financial position, I ask a lot of discovery questions. I also perform time horizon tests such as NestEgg Estimates and other stress tests to ensure they understand where they are as far as their financial future and the risk they are willing to take."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"There are many ways to assess my client's financial position. I am analytically minded and know that the truth is always in the numbers, so I rely on a lot of data that comes from stress and tolerance tests. I ask a lot of questions regarding future planning and their level of comfortability when it comes to risk. Everyone is different, and it's critical that I treat each client as a unique case."
Written by Rachelle Enns on July 6th, 2022
Experience
33. When is it appropriate to withhold information?
What You Need to Know
This is a tricky question which heavily relies on your interpretation of any given situation where this could apply. In fact, your interpretation is the primary of the question. It serves to reveal more about you, your integrity, and your regard for the chain of command, your clients, and your sense of transparency.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"When I'm ordered to. I look to our senior management to make the big decisions. I'm working for them, after all. They're running the business and hold the positions they're in for a reason. If they say to keep it quiet, that's what I'll do. If I come upon sensitive information, I'll withhold it from everyone aside from my superiors. It should be their call on how that information should be handled, not mine."
Written by Kevin Downey on July 6th, 2022
2nd Answer Example
"I'd say when the information is incomplete, depending on its gravity. I'm pretty good at anticipating the needs of my employers and managing up. So, unless I have the complete picture, and take the course of action I know I should take, I'm not going to bring it to my superior's attention until I have something worthy to present. Otherwise they'll ask me questions I should already have the answers to. If I'm going to distract them from the pressing concerns they face, I'm gonna make sure I've lightened the load as much as I can first."
Written by Kevin Downey on July 6th, 2022
Experience
34. Tell me about an organization or group outside of work with which you've been involved.
What You Need to Know
UBS places a lot of emphasis on their global sustainability impact, from climate change to inclusion to social impact; 'a fairer society, a more prosperous economy and a healthier environment.' Therefore, your interviewer would like to know how aligned your values are with theirs. This will help them determine how you might contribute to their teams. Volunteer work and community involvement showcase strong character and humanitarianism, which are all traits that make for a good advisor. A lot of the success of a financial advisor results from networking and getting their name out into the community.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"I recently began sitting on the business commerce board for our city. Part of what we do it raise funds for local schools and other needs for the community, while also providing helpful resources to local business owners. I have thoroughly enjoyed my experience so far and plan to dedicate myself more often to giving back to others."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"Aside from being a Financial Advisor, I am also the parent of three young children. Their schools and sports groups are often running community fundraising events. This year I volunteered to be a school committee treasurer. It doesn't take up much of my time, but it does feel great to be an active parent helper."
Written by Rachelle Enns on July 6th, 2022
Trust
35. As a wealth management professional, how would you react if you were asked to act unethically?
What You Need to Know
It's no secret unethical behavior in the finance industry isn't uncommon. Therefore, UBS Wealth Management takes pride in the reputation of their brand and their representatives. Preserving their reputation equates to ensuring every employee holds themselves to their standard. If anyone has ever asked you to unethically act out of accordance with such shared values, describe the nuanced situation without speaking poorly of your fellow finance professionals, past employers, or past clients. If this situation has never happened to you, all the better! Take a minute to share your views and opinions with the interviewer while exhibiting your integrity and ethical core values.
Written by Kevin Downey on July 6th, 2022
1st Answer Example
"In my career, I have been offered gifts from clients, and although this is not a direct crime, it never feels right to accept anything lavish from a client. I do everything that I can to keep my relationships strictly professional. You can rest assured that I would act with utmost honesty and integrity, representing UBS Wealth Management with pride every day."
Written by Rachelle Enns on July 6th, 2022
2nd Answer Example
"I am newer to my career and have never encountered a situation that rode a grey line. I would never do anything to jeopardize my company, career, or professional reputation. Should a situation be serious, I would report it to my employer or governing board immediately."
Written by Rachelle Enns on July 6th, 2022
Anonymous Interview Answers with Professional Feedback
Anonymous Answer
Rachelle's Feedback