The Associate Programme in Private Wealth Management

Your Opportunity as an Associate in Private Wealth Management (PWM)
An overview of this programme’s objectives and how you can benefit

You will work either in Sales or Investment Solutions.

As an Investment Advisor on the Sales side, you will provide customised financial advice to ultra-high-net-worth clients. You will build a business and grow assets under management by direct client work. You will need good market knowledge, ambition and drive, as well as a desire to provide quality advice at all times.

The Investment Solutions Group is a complementary structure of asset managers and investment specialists who create highly customised, separate portfolio management for clients. Working with this group, you will provide solutions and advice to clients, meeting their specific investment requirements.

The Associate Programme in Private Wealth Management
How the programme works and the day-to-day experience you can expect

The PWM Associate Programme will provide the skills and product knowledge you need to begin building the business within the Morgan Stanley framework. You will work closely with product and trading specialists from across the firm to gain a thorough understanding of the uses and applications of sophisticated financial tools and the full range of Morgan Stanley financial products.

The roles and responsibilities vary by department, but typically include:

• Determining the factors surrounding and defining the client’s wealth, including personal/family objectives, family structure, investment knowledge, sources of wealth, structure of financial holdings, and liquidity needs
• Integrated Wealth Analysis and Structuring—estate tax planning, income tax planning, trust and insurance solutions, and stock option taxation and analytics
• Asset Allocation and Investment Strategy— formulating strategies to meet the client’s goals and objectives, identifying appropriate asset classes, and specific investments in the investor’s portfolio
• Portfolio Construction—determining implementation vehicles such as separate accounts, mutual funds, Exchange Traded Funds (ETFs) partnerships, closed-end funds, and structured products

Launching Your Career
The initial training that you receive on starting the programme

The PWM Associate Training Programme will take place at Morgan Stanley’s worldwide headquarters in New York. London and Asia Associates will spend a portion of time in New York with the U.S. class and will then complete the remainder of their training in their respective region.

This rigorous programme consists of sessions designed to help you:

• Build knowledge of the firm’s platform, products and solutions
• Develop sales and client relationship skills
• Prepare for and obtain securities industry certification
• Interact with PWM managers and Investment Advisor (IA) mentors
• Network within PWM and across the firm
• Receive specialised coaching in interpersonal skills and aspects of the financial industry through external vendors
• Complete team and individual project work, including managing a portfolio, developing a business plan, pitching to mock clients and generating viable prospects

Developing Your Career
What you can expect as you progress through and complete the programme

Once you have finished the training programme, you will have the skills necessary to begin building your private client base. Ongoing training is fostered through various programmes sponsored by Morgan Stanley’s Learning and Development team, off-site seminars, the PWM “Expertise Exchange” and support from your Regional Manager and PWM specialist teams.

Is Private Wealth Management Right for You?
A checklist to help you decide if you have the skills and temperament for this area

• You are entrepreneurial, persistent and team-oriented.
• You have an extensive network of prospective client relationships or are eager to build one.
• You enjoy initiating and building relationships and have the skills and tact to dissect complex financial and family dynamics.
• Your interest in the markets is coupled with an ability to explain complex concepts in simple terms.
• You have strong professional and ethical values.
• You seek out personal challenges to contribute beyond identified responsibilities.

	The Summer Associate Programme in Private Wealth Management

The 10-week PWM Summer Associate Programme will put you at the heart of an entrepreneurial, relationship-based environment.

You will either work with the Sales Team or the Investment Solutions Group in an intensive, well-balanced introduction to the challenges and opportunities you would face as a full-time Investment Advisor or Portfolio Manager. You will undertake active desk assignments, responding to client requests as well as participating in team projects with your fellow Summer Associates. Through these projects you’ll gain exposure to our different business models, learn pitching skills, and see how teams work in this stimulating business. You can build relationships with experienced professionals from the division and around the firm through breakfast sessions with our Managing Directors and other experienced bankers, plus networking and social events.

Developing Your Career
What you can expect as you progress through and complete the programme

Our Summer Associate programme is our primary pipeline for our Full-Time Associate programme. As a Summer Associate, you are given the perfect opportunity to launch a full-time career in this business provided you consistently perform well throughout your Summer Associate Programme.

Is Private Wealth Management Right for You?
A checklist to help you decide if you have the skills and temperament for this area

• You are entrepreneurial, persistent and team-oriented.
• You have an extensive network of prospective client relationships or are eager to build one.
• You enjoy initiating and building relationships and have the skills and tact to dissect complex financial and family dynamics.
• Your interest in the markets is coupled with an ability to explain complex concepts in simple terms.
• You have strong professional and ethical values.
• You seek out personal challenges to contribute beyond identified responsibilities.

Requirements

You will have completed at least one year of an MBA programme, having received a top-class undergraduate degree and posted a strong academic record (a minimum 2.1 or equivalent).

You have a relevant level of professional experience and can communicate effectively in English. In addition, the ability to communicate in a second language would be beneficial.

Selection Process

Candidates are encouraged to attend various Morgan Stanley PWM pre-interview events and/or presentations. All applications are screened by experienced individuals in PWM.

How to Apply

Our Summer Associate programme is our primary pipeline for our Full-Time Associate programme. Applications can be submitted from early October 2008 and will be reviewed as they are received so we encourage candidates to apply early.

To submit your application, please apply online via our website. 

Deadlines

Please visit our website or check with your Careers Office for school-specific deadline dates. If your school does not have a recruiting relationship with us, you may apply online by December 31, 2008.