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High-End Wealth Management Interview
Questions

30 Questions and Answers by Rachelle Enns

Rachelle is a job search expert, career coach, and headhunter
who helps everyone from students to fortune executives find success in their career.
Question 1 of 30
Company ABC provides fundamental insights and analysis for clients in the equity, fixed income, currency, and commodities markets. Which areas of research are most important to you?
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How to Answer
The interviewer would like to know which areas of research you find to be the most important and applicable to your role in wealth management. The truth is, all of these topics are important, yet you may lean towards understanding one a bit better over others. Discuss what you believe to be an essential area of research without overlooking the others at the same time.
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Top 30 High-End Wealth Management Industry Interview Questions with Full Content
1.
Company ABC provides fundamental insights and analysis for clients in the equity, fixed income, currency, and commodities markets. Which areas of research are most important to you?
The interviewer would like to know which areas of research you find to be the most important and applicable to your role in wealth management. The truth is, all of these topics are important, yet you may lean towards understanding one a bit better over others. Discuss what you believe to be an essential area of research without overlooking the others at the same time.

Rachelle's Answer #1
"I have read many articles by Company ABC on all of these topics. I would say they are equally important; however, I find research on commodities markets to be the most intriguing. I like to learn about the hard commodities we offer in our region and how to leverage them to benefit my clients."
Rachelle's Answer #2
"Currency is fundamental to research and understand, especially as my portfolio of clients is global. With that said, I also believe its essential that I am well rounded by spending my time reading articles and gaining insight on other topics such as equity, fixed income, commodities, and more."
2.
How does Company ABC keep its clients informed on critical finance-related topics?
It is critical to Company ABC that they continually meet the unique needs of their diverse client base. The interviewer wants to see that you have researched the efforts they go to, ensuring that their clients feel informed on important finance-related topics. Be prepared to discuss some of the ways that Company ABC serves their clients.

Rachelle's Answer #1
"Your company is well-researched on hot topics in global finance news, ensuring that you remain focused on the short and long term needs of your clients. You remain closely aligned with your clients and shareholders through regular polls, e-newsletters, and market reports. Efforts to reinforce your firms' culture ensure that your clients are always receiving the latest information. I believe that Company ABC starts by investing in employee knowledge so that your team members are more likely to offer a broader depth of knowledge to each client."
Rachelle's Answer #2
"Hiring people who are interested in solving complex problems is a great start, and one of the ways that Company ABC ensures its clients are always well informed. I understand that you publish many important market reports, lead critical research on global finance topics, and are continually in contact with your clients offering value-adds such as whitepapers, ebooks, newsletter updates, and more."
3.
What can you do for Company ABC that other candidates cannot?
This question is another way of asking, 'Why should we hire you?' The best way to answer this inquiry is to comb through the Company ABC job description and narrow down the most persuasive skills matches.

You will also want to think about one of your most significant work accomplishments, which other candidates may not have. For instance, this could include awards and accolades, your GPA, additional certifications, or designations. Be prepared to deliver a remarkable credibility statement.

Rachelle's Answer #1
"In addition to meeting your requirements for education, experience, and career accomplishments, I will also compliment Company ABC efforts when it comes to diversity and inclusion. I understand that Company ABC believes gender equality is an economic imperative. I will complement Company ABC by supporting women's economic empowerment and leadership opportunities. These efforts will help drive growth for your clients and shareholders."
Rachelle's Answer #2
"On your Company ABC careers page you speak about how your biggest assets are your people, capital, and your reputation. In addition to the experience I bring in wealth management, as well as the 3.94 GPA I bring from my post-secondary degree, I also promise to help you uphold these business principles every day. I am dedicated to fully complying with the laws, regulations, and the overall spirit of your organization."
4.
Talk to me about one piece of financial news you are currently following.
This question allows the interviewer to get to know you a bit better; helping them to understand the issues that draw you in. Many topics in financial news could pique your interest. Discuss one piece of economic news that has caught your attention as of late. You can give your opinion on the topic; however, it's essential that you avoid going on a tangent regarding politics and other hot button topics.

Rachelle's Answer #1
"One topic I have been immersed in, primarily because so many of my clients have an interest, is China's GDP growth. China's growth has seen a 6.2% slump in Q2 of this year and the lowest percent in about 27 years. This topic is significant to me since China is the world's second-largest economy. We are starting to see the impact of the trade war between China and the US."
Rachelle's Answer #2
"I have been reading more in the news about water scarcity as a global phenomenon and how this could soon make water a good investment. Shortages in upcoming years could make water a precious commodity, making it a potential opportunity for investors. From the research I have conducted, I see that a small amount of traditional mutual funds and exchange-traded funds already invest in water. These investments are mainly around its delivery, testing, and cleaning. I believe there could be phenomenal growth as governments strive to battle expected water shortages."
5.
Where do you see the economy going this year?
Aside from your opinion, the interviewer also wants to see that you spend time getting to know the ever-changing market conditions. Talk about where you think the markets may be going in the next 12 months. Be prepared to discuss where you get your information, or how you have gone about forming your prediction.

Most important here is that you sound well-read and informed, up to date, and engaged. You can talk about stocks and bonds, commodities, and even the global market.

Rachelle's Answer #1
"I have read many opinion pieces on The New York Times, The Economist, Investopedia, and more. One common theme that I have found is how the dollar will continue to stabilize throughout the year. The flow of foreign capital into United States assets may slow due to softer monetary policy and a lack of need for new capital for business expansion. This opinion is that of Byron R. Wien, Vice Chairman in the Private Wealth Solutions group at Blackstone, and I happen to agree wholeheartedly."
Rachelle's Answer #2
"Geopolitical tensions will continue to rise as we see tougher laws on trade. I have read plenty of market predictions from sources such as he Wall Street Journal, Fortune Magazine, and Bloomberg Markets. I believe China's influence will become stronger as the United States continues to isolate itself further."
6.
What are the three most important traits for a high-end wealth management professional to possess?
The traits that you mention should be traits that you possess! Think back to the job posting by Company ABC and if they list any specific soft skills, ideal characteristics, or preferred personality traits. Perhaps on their careers page, or 'about us' section of their website, they make mention of their core philosophies or business values. Be sure to align your response as closely as possible with Company ABC views.

Rachelle's Answer #1
"I have read a lot on Company ABC and what it takes to succeed, not only in wealth management but also within your organization. I believe the most critical traits here are flexibility, open-mindedness, and a thirst for education. You invest in the careers of your employees and go to great measures to ensure their interests remain focused on those of your clients and shareholders. I appreciate your goal to maximize individual potential. I also value continued education and learning opportunities."
Rachelle's Answer #2
"In my opinion, the three most important traits for a high-end wealth management professional include adaptability, an eagerness to learn, and maximum integrity. These are all traits mentioned in the Company ABC website and job posting, showing me that there is strong alignment with our morals and values."
7.
If you advised a client to hedge against risk in their portfolio, but they wanted to take an alternate action that could hurt their long-term goals, what would you do?
The interviewer wants to see that you take things such as a difference of opinion as an opportunity to dive back into your clients' needs. If you disagree on approach, this could be a sign that you need to revisit long-term goals with your client. Discuss how you carefully go over the pros and cons of these competing approaches.

Show Company ABC that you are not afraid to be bold when necessary. This boldness may include telling your client that their approach is not a good idea. Maybe you bring in a second opinion, which will show the interviewer that you are not ego-driven; doing what is best for your client.

Rachelle's Answer #1
"A difference in opinion may cost me a client; however, I would rather lose a client than be a 'yes person' as the financial ship sinks. If a client wants to take a risk that I know will end up hurting them, I will flat out tell them that it's a bad idea. I will present a case using pros and cons, and if needed, will bring in a specialist on the issue to help the client see the bigger picture."
Rachelle's Answer #2
"If a client wanted to take a bad risk against their portfolio, I would present as much compelling data as possible, to convince them otherwise. If the situation were extreme, I am aware that I could lose the client. It's more important to me; however, that I help my client refrain from action that could hinder them, no matter how much we disagree."
8.
What is your professional mission statement?
Company ABC is a highly esteemed wealth management resource, who has to be sure that every professional they hire is the 'cream of the crop.' Also, they need assurance that your professional manta aligns well with their own. In a sensitive industry such as finance and wealth management, your professional motto is an essential factor to ponder. Think of this question as addressing your credibility statement, ensuring you come across as trustworthy and honest, to your clients, peers, and management.

Rachelle's Answer #1
"My professional mantra is to better the lives of every client I come across. My clients need to know that I am 100% concerned with their financial health and completely on board with their long-term vision. It's care over profits."
Rachelle's Answer #2
"Service, knowledge, and vision. My professional mantra surrounds these three factors. 1. To service my clients before my own needs. 2. To keep my knowledge current and sharp. 3. To be ever-prepared with a short-term and long-term vision for my clients, firm, and career."
9.
If you helped someone make their first investment, what are the first steps you would take?
The interviewer wants to see what kind of advice you would give to a new investor. This question, especially if you are a seasoned wealth manager in high-end wealth management, will take you back to the very basics. Give an answer that shows your knowledge but also your ability to guide and teach people who are not as experienced as you may be.

Rachelle's Answer #1
"If I were to help someone with their very first investments, I would first remind them that investing can be very simple. I would speak in terms that someone could understand and exercise patience when explaining terms and processes. I would ensure that these persons' 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's Answer #2
"To understand terminology is fundamental, so I would first share some resources so that this new investor understood the industry's language. Then, I would perform a financial health assessment and a risk tolerance assessment. I would ask for their top 3 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."
10.
Company ABC wants to ensure that you are a strategic fit. Tell me more about your investing strategy.
There are a variety of investment strategies, and when you and your client are on the same page, that is when you can see a lot of success. Some investment styles include:

- Value Investing
- Income Investing
- Growth Investing
- Small-Cap Investing
- Socially Responsible Investing

There is a chance that you have utilized all types of investment strategies! With that said, the interviewer would like to know if there is one in particular that you lean to the most often. Your answer should align well with the core strategies and values of Company ABC.

Rachelle's Answer #1
"I am a big Warren Buffet fan and, learned a great deal from him on the principles behind Value Investing. This investing style focuses on buying undervalued stocks. This approach takes a great deal of research; however, research is one of my strongest suits as a portfolio manager. It often is a waiting game when it comes to the rising prices, so Value Investing also requires a lot of patience, which I refer to as 'buy and hold.' This investment style is not for everyone, but the payoffs can be excellent if the investor is patient."
Rachelle's Answer #2
"Peter Lynch is someone in the investment industry that I admire. He introduced me to the art of Growth Investing; a strategy focused on capital appreciation. First, I seek out companies that show above-average growth through revenues and profits. Even if the share price doesn't seem low, or like 'a deal,' I believe that it's worth a look. I understand that Growth Investing is riskier, and not for everyone; however, it can pay off well when we look at companies within emerging markets."
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