James, Portfolio Manager at Private Bank: Advize Career Interview
A diverse career path, starting with leadership roles and Teach for America, led to UCLA Anderson, investment management, fintech, and ultimately a Portfolio Manager position at PNC Bank.
This role blends portfolio management, including investment policy creation and client asset management, with business development.
A typical day involves market monitoring, client meetings, and strategic sessions, combining independent work with mentorship of analysts.
Success requires technical expertise (like a CFA Charter), strong communication, and efficient time management. The most rewarding aspects are the dynamic financial markets, client relationships, and the ability to explain complex concepts.
The biggest challenge is differentiation in a geographically dispersed market.
The industry's constant evolution and the need for continuous learning are highlighted, along with the importance of mentorship and networking for career advancement.
A key lesson learned is the relationship between risk and return, and the value of impactful experiences alongside academics.
A final reflection acknowledges the advantages of being a white male and a commitment to supporting others in overcoming systemic inequities.
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
James A Vogl
Portfolio Manager
Private Bank
Iowa State University 2006
MBA, Ucla Anderson school management, full-time program 2013; masters of education at Millikin University, 2008
Majors
Industries
Job Functions
Traits
History, Art History
Finance (Banking, Fintech, Investing)
Finance
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Career Path of a Portfolio Manager at a Private Bank
James's career path was quite diverse, starting with "a lot of leadership activities" in college and a transformative two years teaching with Teach for America in Chicago. This experience, followed by business school at UCLA Anderson and several roles in investment management and fintech, ultimately led them to their current position as a Portfolio Manager at PNC Bank, managing money for major clients.
Main Responsibilities of a Portfolio Manager at a Private Bank
James's main responsibilities as a Portfolio Manager at a Private Bank are two-thirds portfolio management, encompassing "buying and creating an investment policy statement" and managing client assets according to established objectives. The remaining third of James's time is dedicated to business development, assisting in "pitching new business and bringing it into the bank".
A Day In The Life Of A Portfolio Manager At Private Bank
A typical day for the Portfolio Manager at PNC Bank involves a blend of market monitoring starting early in the day, client and market-related meetings, and business development strategy sessions. The work is described as "two thirds independent, one third group work," also including mentoring and quality-checking work from four or five analysts.
Most Important Skills For A Portfolio Manager At A Private Bank
James, a Portfolio Manager, emphasizes that technical proficiency, exemplified by the rigorous CFA Charter, is paramount. Equally crucial are communication skills, translating complex financial information for clients, and efficient time management, focusing on "the things that are truly driving success."
Favorite Parts of Being a Portfolio Manager at a Private Bank
James, a Portfolio Manager, finds the "endlessly fascinating" dynamism of financial markets and economics most rewarding, enjoying the challenge of explaining their impact and helping clients achieve "a level of comfort and understanding." The role also provides fulfilling relationships, often becoming a trusted advisor during personal crises.
Biggest Challenges Faced by a Portfolio Manager at a Private Bank
James, a Portfolio Manager at a Private Bank, identifies "differentiation" as the biggest challenge, explaining the need to offer a "unique value proposition" to clients while simultaneously building trust in a geographically distant institution. This necessitates effectively branding themselves as a "highly competent investment professional" to overcome the lack of local brand recognition.
Favorite Parts of Working in Private Banking as a Portfolio Manager
James, a portfolio manager, finds the dynamic nature of capital markets and the constant need to learn about new technologies "absolutely fascinating," viewing the role as being "at the forefront" of future trends. This, coupled with a desire to improve the industry's image and a knack for clearly explaining complex financial concepts, makes the work deeply fulfilling.
What Type Of Person Thrives In The Investment Industry, According To A Portfolio Manager At A Private Bank
Success in the investment industry hinges on strong technical competence; as James, a Portfolio Manager, notes, "you can really sniff out pretty quickly if somebody doesn't know what they're talking about". Financial motivation and a genuine interest in the field, coupled with "competency but also motivation for money and a good long-term career," are also key factors for thriving in this competitive environment.
What A Portfolio Manager At A Private Bank Wishes They Had Known Before Entering The Financial Industry
James, a Portfolio Manager with over 12 years of experience, emphasizes the continuous learning required in the industry, stating, "I'm still learning things every day," despite possessing a degree and rigorous certifications. This highlights the long-term commitment to learning and the persistent need for a "learner's mentality" for success in this field.
Entry-Level Positions For Aspiring Portfolio Managers
James, a Portfolio Manager, emphasizes the importance of mentorship and learning from senior colleagues, stating that "being physically next to people who are a level or two up from you is super important," especially within rotational programs. The value of networking and not fearing lateral moves for career advancement is also highlighted, with James noting the surprising longevity and benefit of maintaining professional relationships, even after long periods of silence.
Significant Career Lesson from a Portfolio Manager at Private Bank
James's significant career lesson centers on the relationship between risk and return, noting that "you can go and try to do something really big," even if it fails, providing valuable learning and skill development. Patience and understanding that market conditions are temporary are also key, as demonstrated by their experience graduating into a challenging job market.
College Experiences That Helped A Portfolio Manager At Private Bank Succeed
James, a portfolio manager, attributes their career success to "organization and being able to prioritize really effectively," skills honed by juggling a demanding extracurricular schedule in undergrad. This proactive approach, prioritizing a "3.5 and let me actually do something meaningful," demonstrates the value of impactful experiences alongside strong academics.
How Identity Has Influenced a Portfolio Manager's Career At A Private Bank
James, a portfolio manager, reflects on the advantages afforded to him as a white male, acknowledging that "white males have...been handed so many things." This recognition fuels a commitment to mentoring and supporting others, regardless of background, in overcoming systemic injustices and achieving career success, believing that "individuals take responsibility for overturning...injustices."
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