Top 20 Wealth Manager Interview Questions and Answers for 2022
Interviews for Top Jobs at Morgan Stanley
Wealth Management Intern Interview
I applied through college or university. I interviewed at Morgan Stanley (New York, NY)
Interview
Easier interview process than I expected, mostly personality, etc questions. A few slightly weird questions asking about what I thought they did and thought I would be doing as an intern but overall a straightforward process that went well.
- What are the kinds of things you think you would be doing here?
Wealth Management Intern Interview
I applied through an employee referral. The process took 4 weeks. I interviewed at Morgan Stanley (Washington, DC) in Mar 2021
Interview
The interview process includes 4 rounds of zoom meetings. First, they filter based on your resume and determine if you can make the next round. Second, the recruiter will email you and schedule a zoom meeting. Third, the company will set up a panel meeting with a department manager and HR manager. Last round is the final round.
- What would you do if you place the wrong order?
Wealth Management Intern Interview
I applied through an employee referral. The process took 1 day. I interviewed at Morgan Stanley in Aug 2022
Interview
Over the phone but it was very difficult. Interviewer went in depth when asking technical questions. Had to prove myself and explain how my degree can make an impact in the firm and how i can bring in 10million
- How can your degree get clients
How do you establish rapport and build relationships with clients?
The interviewer is most likely going to evaluate your ability to connect with clients, build a relationship and establish trust. Show how your interpersonal and customer service skills help you succeed in working with clients. Here is an example:
Example: “Trust and transparency are very important to me when building rapport with my clients. When I meet with a client for the first time, I always discuss their financial goals. I also encourage my new clients to come with questions for me so that I can clear up misunderstandings about investing and help educate them about how investing can work for them. I never go into a first client meeting expecting to convince them of something theyre unsure of. Instead, I strive to help my clients fully understand their options and how I can help them achieve their goals.”
Wealth management interview questions and sample answers
Use the following wealth management interview questions and sample responses to help you practice before your interview:
In-depth questions
In-depth questions will help the interviewer get an idea of your skills, expertise and how youll apply these qualifications on the job. Here are some examples to help you prepare for these types of questions:
Wealth Management Internship Interview Questions
Many make the mistake of thinking that wealth management internship interview questions arent difficult. While its certainly true that you wont have the in-depth accounting questions that you would find in investment banking interviews, you will be faced with a diversify array of questions that span between the qualitative, the quantitative, and those that are market based.
The breath of potential questions can make interviews daunting, which is why I put together the Wealth Management Interview guide to try to shed a little light on the industry.
Now lets get into some questions.
What do you hope to gain from a wealth management internship?
This is a question that will come up in nearly every interview you do for a wealth management internship.
What your interviewer is looking for is that youve thought seriously about what it means to be a wealth manager and that you understand what the role of a wealth management intern is (hint: its not advising clients on what they should do!).
You should say that youre hoping to better see how wealth managers approach both bringing in new clients, dealing with current clients, and better understanding the day-to-day work of a wealth manager (which is not frequently talked about).
You can say that youre hoping to better understand how a wealth manager approaches each clients needs uniquely and crafts a plan for them and that youre eager to see how you can be as helpful as possible to those around you.
What do you think makes a wealth manager successful?
Ultimately, what an interviewer is looking to do in any interview is see whether or not you can succeed as a wealth manager. Chances are youve heard of the large number of those who enter into the wealth management industry and then leave within five years.
It suits no one – not you yourself or your employer – to have you not succeed in the role. This is particularly true at wealth management shops tied to investment banks where youll be paid a higher salary and have more training invested in you. Its in your interviewer and your new firms best interest to hire people that are most apt to succeed.
One of the ways you can assess whether someone is likely to succeed in the role is by seeing whether or not they really understand what makes for a successful wealth manager.
While everyone may have their own spin, what I would say is that a successful wealth manager is constantly prioritizing their clients needs while also ensuring that you understand what your client needs. What this really means is that clients often dont have a firm understanding of how they really want their wealth managed once you dig in a little deeper.
A wealth managers first priority is figuring out what a clients real goal is and then crafting a plan that best achieves it. Then a wealth manager must help make sure the client doesnt deviate from it unless it is truly in their best interest to do so and theyve thought seriously about it.
FAQ
What do wealth management interns do?
What are the 10 most common internship interview questions and answers?
- How do you identify when a client is moving away from financial targets? …
- How do you ensure your client is making sound and beneficial financial decisions? …
- How do your skills add value to this organization? …
- Are you willing to challenge clients on irrational financial behaviors?
