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.