Winding Down

Though my internship is not yet over my posts on this blog are, so it's time to reflect on the journey up to this point. I've got about two weeks left so I think it's a good time to look back on everything and see how it's developed.

On my first day at UBS I was nervous, shy, and not very confident in my ability to do a good job with my assigned work. I'm still not the loudest person in the office, but I grew comfortable with the people pretty quickly and have developed some solid relationships that I expect will endure much longer than the few weeks I have left of the internship. The people have all been very helpful, and if there's one thing I can takeaway from all the positive interactions I've had it is that it pays to lend a hand.

As time passed I became gradually more confident in my ability to accomplish whatever crossed my desk. An important part of success to me this summer has been acknowledging that I don't know everything and it's okay to ask questions. Though I took care not to pester anyone with my inquiries, it became very clear to me early on that I'll produce much higher quality work if I admit to myself when I'm stumped and seek help when necessary. Generally I'd prefer to figure something out on my own, but that's not always possible and I've embraced that.

My time at UBS has helped me improve as both an employee and as a person. I've developed some skills I didn't know I'd need, and improved on others already in my repertoire. I've mentioned a few times before how important the relationship is to the wealth management business and that's really my main takeaway from this summer. In any line of business it's people who make decisions, and it certainly helps to have as many in your corner as possible. Going forward I intend to take great care to take my eyes off the computer screen often enough to get to know the people around me. Luckily I did enough of that these past few months. I think it's paid off in what's been a great summer experience and lessons I'll take with me as I continue to grow into my career.

Summer Slowdown

So I'm a bit more than halfway through my internship now and things are coming together pretty nicely. I'm comfortable with everyone in the office and I'm getting to know the other interns better, which is cool. As unlicensed wealth management interns we can't really do a lot of work that has a real impact but we help out as much as we're able to.

Things have slown down a fair amount since my last post. Between bosses being out of the office and two other guys starting on the same team as me, the work is spread pretty thin lately. My daily responsibilities haven't changed much, but my longer term projects are wrapping up so I've begun to think about the next step. Rather than just do what I'm asked for the rest of my time at UBS I've been brainstorming projects to work on that would have an impact even after I've taken my last steps out of the office at the end of the internship. When I;m able to start working on it I plan to put together a report for my FA about the local economy and outlook over the next decade or two. If I'm able to identify where the growth will be in this time frame I'll be able to recommend strategies for him to build his group's book of business and tap the market by targeting small business, the lawyers and CPAs who workwith them, and support networks. It's a longer term project but could actually be useful, as my team is constantly in acquisition mode and this would expand the landscape some.

In all, I'm a little surprised by how laid back this segment of the finance industry can be, but that's turned out to be a good thing so far. Rather than spending all my time sitting behind a computer staring at excel all day, I'm able to do things like chat at the coffee machine for a few minutes without feeling guilty or go out to lunch and strengthen some of the new connections I've made. I've found a good balance between work and socializing, and I hope I'm able to continue to approach my internship in the way I've done up to this point.

The Week of the Breakfast Meetings

Hi all,

I've been with UBS for 6 weeks now and so far so good. For a while it felt as though I'd fallen into a routine, with most days being pretty similar and myself never really getting out of the office during the day. These last two weeks have brought some welcome change though - breakfast meetings and new interns top the list.

A handful of other guys have finally begun their internships at UBS (seems like I got to it pretty soon after school let out). It's refreshing to finally see some other young faces around the office, and I'm looking forward to getting to know them better.

This last week I was able to go to two breakfasts before the day started.

On Monday my boss found me before I even made it to my desk and asked me to come along with him to a breakfast meeting with a prospective client. It doesn't seem like much, but I really enjoy opportunities like these because it's a chance for me to 1) see how they bring in business and 2) get a chance to interact with some new people in a different setting. It's a nice change of pace from the regular 8 hours at my desk. As I've mentioned before, meetings like this help to underscore the importance of the relationship in the wealth management business. It's important to like/trust the person you hand the bulk of your wealth to, and I've found it pretty interesting how the approach is tweaked a bit with each person to customize it to their personality.

Wednesday was really cool. UBS' chief equity strategist was in town, so they organized a small breakfast and invited a few clients to join for a talk and some food. He gave a pretty broad presentation about the lay of the land and where the money's flowing these days. Most of what he said was stuff I'd heard or read already, but it was definitely still interesting to hear it delivered in the flesh, and some good questions from the audience helped round out the talk.

In all, my experience with UBS has been great so far and it seems like the next few weeks still have quite a bit in store for me.

Four Weeks In

In the two weeks that have passed since my last post I've grown more comfortable in the office and been able to do some interesting stuff. I've also begun to drink more coffee. I began the internship doing some fairly un-engaging things - cleaning up client lists, keeping track of wholesalers, scheduling, etc. Since then I've seen a shift toward things that actually interest me. There's still a fair amount of the type of thing that I just mentioned. That comes with the territory, but it all has to get done if things are going to continue to function properly.

My main accomplishments thus far are cleaning up/centralizing the system they use to track clients or prospects, and putting together a detailed investment matrix with information on any of the money managers, mutual funds, bond funds, annuities, or other investment vehicles that UBS deals with. As I mentioned in an earlier post, the relationship is a key element of the Wealth Management business - both to bringing in new clients and keeping existing ones satisfied. Since everything really revolves around the interface between the client and the advisor, it's important that all members of the team are able to track each other's progress to both stay up to date or to pick up where the other left off. I developed a form that allows for easier tracking of interactions with clients and prospects, put it in a place where everyone can access it, and have helped to make sure everything is up to date. I've seen everyone on the team using it, so hopefully that means it's helped to improve the process a bit.

Next one is the investment matrix. This is still a work in progress since there is a LOT of information to consolidate. But it looks to be shaping up nicely. It's going to be used to narrow down options and identify preferred investment vehicles, so it's important that there be a lot of detail in the final product. It's been a good exercise to get me better acquainted with their business and the types of places they feel comfortable allocating clients' capital. Once I'm done with that I have a few more similar projects lined up, so I'm looking forward to what's to come.

Though I've grown a lot more comfortable in the office than I was in my first week or two, I'm only a month in so I'm definitely still getting acquainted with the business. Overall, it's a good place to be and I'll continue to do what I can to make the most of the opportunity

Frist Two Weeks

Hi All,

My first day in the office was May 9th, which will be two weeks ago tomorrow. I spent a lot of time trying to mentally prepare, and day one actually went a lot more smoothly than I expected. Things got off to a bit of a slow start, with the majority of the morning spent making introductions, setting me up with an email/phone/desk, and getting to know the ins and outs of the office. I had expected to still be a little nervous but I got accustomed to my surroundings pretty quickly and was ready to get to work on my first project that afternoon.

Wealth Management is a business where the relationship is key, so it's important to have up to date information on all clients and prospects. My first task was to go through the prospects in Outlook and verify that we have their correct contact information on file. It took a few phone calls but I was able to track down just about everyone whose information was incomplete and make sure we are up to date. A few days later I was given a similar task (in that it required a few hundred phone calls) to get in touch with wholesalers (of mutual funds, annuities, fixed income funds, etc) to request that they send over some "golf swag" for a charity outing my boss is helping to organize.

As I expected, there's going to be a good amount of grunt work required of me throughout this internship, but I'm happy to do that because I'll also have the opportunity to take on some more interesting projects and get some perspective on the industry. For instance, I was given one task to research another financial advisor in the area to come up with a client list and estimate his assets under management. In addition to that I've been trusted to assist one of the investment strategy associates with some portfolio analysis that will (hopefully) help persuade some clients to trust more of their assets to UBS. I haven't gotten started on that, but I'm looking forward to it when I get around to it. On top of that, I'm sitting in on a lot of the internal meetings as well as meetings between FAs and wholesalers or representatives who come in from hedge funds, essentially offering the same service. These meetings have really been a highlight of the experience so far. I'm still new to the game so some of it goes over my head, but it's exciting for me to be in a place where everyone shares the same passion for this stuff as I do.

In all, I'd say these first two weeks have been sort of like an orientation for me. I haven't had a chance to work on anything major just yet, but I've been able to deepen my understanding of their business and the economy/markets it relies on. As this isn't a formal or structured internship, they didn't have too much for me to do when I stepped in the door on day one. But the team sat down toward the end of last week (while I was out) to brainstorm ideas and come up with projects for me to work on. So we'll see what tomorrow has in store for me.

First Post

Hi all, my name is Michael and I just finished my sophomore year as a BBA at Ross. I'll be interning at UBS Peninsula Wealth Management Group in Birmingham, Michigan. It's a short 5 minute drive from my home in nearby Beverly Hills, so not a bad commute at all.

As an intern I'll have a fair amount of responsibility from grunt work (to be expected) to client specific projects, marketing work, and anything in between. It's not a formally structured program so I can't say with certainty what I'll be doing all summer, but I think the flexibility of having no "real" structure may end up being a good thing. I expect the internship to be demanding in terms of the quality of work expected from me, and that's something that will help motivate me to do a good job no matter how large or small the task.

I'm a little nervous about making a good first impression, but I'm hoping to start off strong. I've spoken with my boss a few times over the course of the semester and he seems to be genuinely interested in intern development, so I look forward to working for him. Additionally, I've reached out to past interns to get a sense of how to best prepare and they've had great things to say about the experience.

Dress for Success

In one of my past posts I talked about the importance of dressing for the job you want. In this video I talk about dress in the office and how to tie 2 different types of ties. Feel free to email me with any questions about how to dress in the office.

Also the music is a little louder than I wanted but the song is "Words of Wisdom" by Hoodie Allen. He is the first artist I managed when I started my business Invite Only Management, LLC, and he is really starting to get popular so make sure to check out his music.

The Wrap Up Report

It's been a good ride this summer and with just over a week left my internship is coming to a close. I've learned so much this summer about what I want to do with my career, office culture, and the sports and entertainment industry in particular. Since I feel I have learned so much, I feel it is my duty to impart my new found wisdom upon you with my 3 simple easy tips to making the most out of your summer internship.


1. NETWORK- This may seem extremely obvious but it is often done wrong or not enough. I think I have done a pretty good job, but may have not done enough. Some ways to network wrong are:
- Start asking about jobs or connections your superiors have too early in the internship.
- Ask people for a recommendation when you do not have a lot of experience working with this person.
- Suck up. This is my biggest pet peeve. I hate when interns make it a competition with other interns to get on the good side of the boss. And to be honest your boss will recognize this as well.

One way to make sure you do enough networking throughout the summer is to get your immediate supervisor on your side early in the summer. Get them to help you set up with meetings in the company. Also when you see someone you have never met in the company don't be afraid to introduce yourself. Lastly always have your elevator pitch ready. This will allow you to be always ready even when caught off guard.

2. Have fun. Make friends, laugh, and always have a smile on. If you have a positive outlook on your job or at least portray that to your co-workers and superiors, the people in the office will enjoy working with you. This can lead to my first tip which is networking. Because if you are happy people will open up to you and want to help you. No one wants to help the debbie downer of the office.

3. Dress for the job you want. This is a motto that I have stressed time and time again. Appearance and hygiene are two of the most overlook aspects in the office. Wearing a tie or something equivalent for girls if it is not required goes a long way. People recognize it and will remember you. It is subtle touch that separates you from the rest of the pack. Remember, and summer internship is just a 10 week interview. Doing the little things and showing committment will get you the recommendation or job offer you covet.

Best of luck in the future.

Keep Busy...Look Good

One of the hardest things to do in internship is to keep busy with good work. All of us interns now that there is always the administrative type work that can be done but none of us want to do that. In an early post I had talked about learning how to say no when you have too much work, this post is the antithesis to that one. How to get more work when you don't have enough.

One of the worst things an intern can do is sit at their desk with no work, go on facebook, gchat, or just surf the web. Granted a little of that stuff never heard, and I am one of the greatest offenders to that. But it is about creating a good balance, and of course not letting the boss see. If you find yourself going to your list of websites that you go to when you are bored go ask your supervisor if they have any projects for you. If they don't have anything ask their supervisor. This type of attitude will make you look like a diligent worker, and as we all know an internship is just an extended interview. Showing your commitment and hard work will leave a good impression of you with your bosses. However don't say "Do you have any work I can do?" This will lead to those killer tasks like making copies, filing, and other monotonous tasks. Instead say to your boss "Do you have any projects I can help out with?" or "Is there any project that I can work on?" Phrasing it like this shows the boss that you want a real project not a time filler. If you end up doing files so be it, it is the little things that get you to the top. In the sports and entertainment industry (more specifically agencies), in which I work, entry level is often in the mail room. Those who work the hardest at the job they hate the most will ultimately be the one who networks the best and climbs the corporate ladder.

My internship to this part has been a lot of ups and downs as far as work load. There have been times when I am the last intern in the office, and other times when I am the first out the door. Recently I asked my supervisor, "It is now the second half of the internship, is there anything I should improve or focus on in my second half." His response was, "Make sure you are always asking for work if you don't have anything on your plate." He said that since I already do this there wasn't much to improve but that the higher-ups like interns that are always working and asking for more work. I am lucky that my supervisor was recently an intern and knows the ins and outs, but if your supervisor isn't willing to offer that advice, take it from me your boss will like to see you in their office if you are always looking to do work.

Enjoy the rest of the summer it's almost over.

Just Say No!

One of the hardest things for me this summer has been managing my workload. We all know that an internship is nothing more than a summer long interview, so we all want to impress our bosses and do the best job possible. However, doing a good job and managing your workload do not have to conflict. It is always important to know exactly what you have on your plate at one time so you know what new projects you can take on.

Although it may be hard to tell a superior you can not work on something, sometimes it is necessary in order to do the best job possible. No boss will look at this as you being a slacker, but rather they will appreciate your honesty and they will expect you do your best work on whatever it is you are working on. Although it has been uncomfortable for me to do this, I have done it on multiple occassions this summer. I report to more than one person, and each of my bosses doesn't know my workload. Everytime I told one of them that I could not work on something they were completely fine with it and actually respected me for respectfully declining the work they had for me.

Despite what I just said you can easily mess this up. Once you are done with the large project you are working on make sure to approach the person again, tell them you are done with the other project, and then ask if they would still want you to work on their project or if they have anything else for you. This is not brown-nosing but rather showing that you are a diligent and respectful employee. Being able to manage up is a very hard skill to learn, but an internship with a heavy workload can help you learn to do it effectively.

So if you can't take on a new project because you are swamped remember, JUST SAY NO! (politely of course)

New City, New Life

Michael Wieder, BBA 2011, Octagon

Last week was a very busy week for me, I took the LSAT Monday, moved to Washington D.C. on Tuesday, and started work at Octagon on Wednesday. My hectic life just made it harder to get adjusted to living in a new city. Unlike a lot of people, I have an advantage adjusting to city life because I grew up and live in New York. However, it always takes time to get acquainted with a new place. The people, culture, food, and layout are all different and take time to adjust too.

I have found that there are ways to alleviate the stress and potential frustration cause by relocation. The first tip is, do RESEARCH. Going on the internet and searching everything from food to maps, and entertainment to transportation can make all the difference on how easy it is to adjust to a new city. At first I found it very difficult to get adjusted to how DC was layed out. I found it hard to navigate the city, and although cleaner than NYC subways, the DC Metro is just inferior to other mass transit systems in cities like NY, London, and Paris. After I looked at a couple maps I was perfectly acclimated to my new city.

My second tip to adjusting to a new city is to EXPLORE. Get out and see what the town, city, or state has to offer. If you hide you will never know how great (or not so great) the new city is. By exploring you open yourself up to new things, and really get a chance to adjust yourself to your new surroundings.

Lastly, make sure that you have FUN. Don't hold back at all. See what the nightlife has to offer, meet new people, go to cultural places. Without having fun, your transition to a new place won't be the same. I have found that if I let myself have fun in a new city I automatically adjust to my surroundings better, because although I may be a foreigner, I feel like a native.

Hope this helps with everyone adjusting to new cities because it has definitely helped me in the past.

My First Post

(BBA, Octagon)

Hi All! I am Michael Wieder a rising senior in the BBA Program. This summer I will be interning at Octagon, a global sports agency and marketing firm. They represent athletes such as Michael Phelps, Chris Paul, Emmitt Smith, and Lamarr Woodley (Go Blue) to name a few. I will be working in the Athlete and Property Marketing Division. I expect my projects will revolve around harnessing the marketability that Octagon's athlete clients have and find strategic ways to pair them with large corporations or events through sponsorships or endorsements. Currently I do not have many expectations for my job. I find that it is better to go in to new experiences with low expectations so anything that is good seems great and things that aren't so great do not seem so terrible. My internship is in McClean, Virginia and I will be living in Washington D.C. I am very excited about experiencing and exploring all aspects of a new city. Being from New York I understand what a big city is like, but Washington D.C. is going to a lot of fun and a great experience. I am not the type of person to be very nervous about new situations, however I guess I always a little concerned about the adjustment to a new corporate culture when starting a new job or internship. I look forward to updating everybody on my experience.