Wealth Management Intern
Wealth Management Intern – May, 2021
The Firm:
With over $400M in AUM, McLaughlin Asset Management, Inc. is a busy and growing boutique private wealth management firm based in Haddonfield, NJ. We provide sophisticated wealth management solutions to individuals and retirement plan sponsors primarily in NJ, PA and FL. Services include financial planning, investment management, estate planning, risk management/ insurance and tax planning through an affiliate association. We also serve as an advisor and consultant to micro ($1-10M) and mid-size ($10-100M) retirement plans providing fiduciary 3(21) guidance, investment policy statement development & ongoing due diligence, investment & fee benchmarking, RFP services and conversion services.
We are a firm that puts clients’ needs first and this value is at the core of everything we do. The bar we set for ourselves is excellence always and we seek colleagues who share the same values. We need team players who are flexible and we in turn provide a flexible and supportive environment. We are a firm that cares about people----our clients, our employees, our community. If you are a team player, have compatible values and work ethic, enjoy a friendly environment where you will be an important part of a team that works hard and supports each other, then you are a good candidate for our firm.
The Position:
- Location: Haddonfield, New Jersey (in the office, not remote)
- Business: Wealth Management
- Hours: 15-20 hours a week, flexible schedule
- Time Commitment: this is a temporary position, ideally through 12/31/21
- Compensation: Hourly, no benefits
- The Opportunity: Learn how an established private wealth management firm serving the High Net Worth (“HNW”) space operates on a daily basis delivering premier service to clients. Obtain hands-on experience learning the many roles of the individuals and other resources used in the delivery of financial planning and investment advice to clients, including financial planning and investment software, investment managers and their technology platforms, custodians and the wealth advisors themselves who have the direct relationship with the client.
The Wealth Management Intern is a bridge position between the Client Service Team (“CST”) and the Wealth Management Team (“WMT”) supporting both teams with about 75% Wealth Management/25% Client Service/Operations, working with everyone on the team but with primary reporting to our Senior Wealth Management Associate. This internship provides an exceptional opportunity to learn from a well-established wealth advisory team serving the HNW market. Your work will be varied with some assignments being routine and repetitive while others more analytical. Regardless, all work is important and high value. The intern will learn how a private wealth management firm operates on a day-to-day basis and may interact with our many business partners including personnel and technology platforms with our broker/dealer, investment manager partners, custodians, financial planning and portfolio analytics programs, aggregation software, and our CRM database.
The position requires a professional demeanor and appearance. The ideal candidate is a person who has a passion for learning about the wealth management industry, has general tenacity when assigned a project, and wants to make a difference during his/her tenure at our firm. We desire to hire someone who is enthusiastic about owning responsibilities with a ‘can do’ attitude. In a small firm, your professional growth is what you make of it. We seek someone who understands this and will capitalize on the opportunity presented in this internship, given that we may consider an intern as a prospective permanent hire.
Examples of Some Possible Assignments:
- Wealth Management: Provide support in preparing for upcoming client meetings including investment and annuity report generation, distribution report preparation, research on capital gains/losses, review of portfolio summary books, assist with follow-up on outstanding tasks, agendas, and any other preparation required. Perform ad hoc assignments related to investment management when needed.
- Client Service/Operations: Assist our CST with processing and documenting client distributions on client distribution reports, handle ad hoc assignments related to account transition and processing, client service requests, troubleshoot as necessary and miscellaneous administrative follow-up. Work within our Client Relationship Management (“CRM”) system as needed.
Education & Skill Requirements:
- Currently working towards a Bachelor’s degree, rising sophomore, junior or senior considered.
- Business, Finance or Accounting major preferred with minimum GPA of 3.2. Candidates with other majors considered if GPA is 3.6 or higher.
- Strong technology proficiency with MS Excel and Word, databases, and ability to learn new technologies rather quickly, including our Client Relationship Management (CRM) database, financial planning software, performance and account aggregation applications, investment and custodial platforms and portfolio management software.
- Exceptional planning, organizational, time and project management skills, ability to juggle conflicting priorities
- Outstanding verbal, written communication and organizational skills
- Good quantitative and qualitative analytical aptitude
- Willingness to roll up sleeves and work on both wealth management and operational matters.
Qualifications:
- Passion for learning about the financial services industry and/or demonstrated interest in Wealth Management
- Excellent leadership, problem solving, and relationship management skills; positive and professional demeanor
- Resourceful and able to navigate through roadblocks strategically leveraging resources
- Detail-oriented with high degree of accuracy
- Highly motivated to learn and contribute
- Solid work ethic with history of taking initiative creating quality work product
- Trustworthy and able to work with discretion when dealing with highly personal and confidential financial information.
- Excellent interpersonal and oral skills with innate customer service and team orientation.
Company Contact:
Interested Candidates should send resume via email to:
Linda McLaughlin
Partner, Practice Management & Operations
856-216-8444, ext. 212