Asset Management vs Private Banking

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Ever wondered what the difference is between working in asset management versus working in private banking? In this video I'll demystify the differences (and similarities of the two sought after career paths by many graduates). Thanks for passing by and enjoy the video!

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[AfzalHussein]

Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more.
How Masterworks works:
-Create your account with your traditional bank account
-Pick major works of art to invest in or our new blue-chip diversified art portfolio
-Identify investment amount
-Hold shares in works by Picasso or trade them in our secondary marketplace

[ebitdareadthebook]

As someone who moved from asset mgmt to private bank/PWM, you hit the nail on the head. In AM, you are usually dealing with a large institution with a large amount of capital invested. Sometimes speaking with several different people within the institution. In PWM, you are usually dealing with the individual(not always the case). This means that if you are unable to answer questions/provide a solution(or at least get back to them with the answer), they are more likely to move their assets out. It is not as simple with a larger institution on the AM side, but of course anything is possible.

[hkscu]

Reading the comments from people who watch this channel gives me hope that I have the competitive edge needed to break into the finance industry 😂

[blob]

Could you do a video on which skills best suit the different roles/teams within an Asset Manager?

[judyl.]

both are similar, but still a slight difference:
because the inflation will eat up the wealth or get a return.
AM's clients are institutions or large clients, government, sovereign wealth funds.
3:40 in the event that people go to make a claim, then the company will cover those expense.
4:25 now with private banking - difference is in clientele.
they're high-net-worth or ultra-high-net-worth people - art portfolios.
7:05 a more high-touch focused service.
7:40 you will talk to the trustee of a charity. and need you asap as expectations.
9:00 sales-route: client relationship management, crm.
product specialist - might be more technical and look at bloomberg.
they might need you to update the news by phone call asap, or risk your career.
11:15 try and get your foot in the door.
11:40 institutions clients: am charges on percentage fee on scale.
just build the knowledge in the conversation.

[hotelmanagerchannel]

Private Banking is more focused on developing a relationship business with clients rather than investing and trading. You basically must follow what the investment policy tells you to do with the portfolios in order to respect their best interests.

In reality, your hands are much more tied. There's no freedom and banks have become so results-driven that they stop caring about what to do best for their clients. it's all about fees and ROAL...

[wonders_entertainment]

Please on how to get into the industry, especially when you in South Africa. Its really not easy

[SP-]

you're a G! thanks for the insight.

[markuswunsch]

Partly disagree with the opinion that a private banker has to know more. Actually the relationship manager at a private bank has to have a very good generalized knowledge and an ability to bring in experts for whatever topic they are are needed (Tax, legal, financial, art, ...) and might get away with knowing "only" 80-90% of each part rather than 100% of everything!
Whereas if you work in sales with an asset manager you better know 100% what is going on in your niche of work and better have a deep technical understanding because your counterparts (institutional investors) are very knowledge in finance too and have extremely high expectations.

[tonyhooyer]

Reading about people grabbing multi-figures monthly as income in investments even in this crazy days in the market, any pointers on how to make substantial progress in earnings?would be appreciated 😇,

[FavouredChild.]

You have been so helpful. I have watched all your videos on Pension, Asset management, Investment banking etc. Please how I connect directly with you?

[muzammil]

Could you make a video about the halal areas to work within corporate finance?

[samarthgandhi]

You said asset management only deals with institutional clients. But companies like Blackrock and vanguard have many retail clients.

[marchantshill]

Thanks for the video - how does an asset management firm with mostly retail clients differ to institutional clients?

[aslzar]

Hello!
I am here again, because you provide the key info for career.
What kind of skills both hard and soft make graduates convenient in intern position in Asset management?
Could you provide these skills and resources for studying them? In what order should these skills be studied?
It will be useful for students without finance related background, for example from management.

Thank you for your inputs!

[brianmarch]

So is private banking basically the same as wealth management?

[clifordakoyo]

what if your in a 3rd world country (i.e. Kenya) with lots of low net worth individuals and the usual case of high corruption cases would Investment Banking be a wise career choice?

[SFAngelo]

To true I work at TSA and definitely man we manage all our 18 partnered banks

[SwissCoinsulting]

What kind of exit opps are there for wealth/asset managers? Best regards

[HoneyBadgarDontGive]

Any tips on CVs/interview tips with PB compared to AM...? If PB is so relationship orientated, is it useful to mention the technical skills you also have and then let your interpersonal skills shine through in the interview? I take it, the choice to be selected in PB is more subjective than AM...? (Any thoughts?).