Q&A with a Vanguard Senior Portfolio Manager
To learn more about the career of an investment management crew member, Gemma offered her insight in this Q&A. Gemma is currently a senior portfolio manager in the fixed income active rates team. Her team manages the active US Treasury and US Inflation Linked securities funds. She joined Vanguard in 2011 as a mid-career hire after a career in investment banking and a stint as a portfolio manager at a global sovereign wealth fund. In her spare time, she enjoys spending time with her family and travelling. In your LinkedIn profile you mention that you are part of a small cadre of women portfolio managers in the asset management industry. Tell us more about this and why you think that is. Morningstar and Bloomberg recently published articles on women in asset management and have highlighted that there are 14 Fixed Income funds managed solely by women in the US. At Vanguard, I am fortunate to have the opportunity to manage 4 of those funds. There are also other female portfolio managers who manage global fixed income and global equity funds at Vanguard. The attrition rate of gender diversity has risen in the asset management industry since the great financial recession. Research has shown that the broader the diversity within teams, the higher the return potential. This is paramount in an environment where overall investment returns are low and it behooves companies to seek out opportunities to boost returns. I am honored that I can be a role model for younger diverse crew who may be considering a career path into portfolio management. What advice would you give to your 25-year-old self as you were starting your career? I would always keep your dreams and aspirations in front of you. Assess what skills and competencies you would need for such roles and take necessary steps to build those by taking on roles that can be stepping stones to your ultimate destination. This is a competitive environment so don’t be afraid to take risks and try something new even if it is not a direct path to attaining your dream job. If it offers a new skill or competency, it adds to your personal growth. Additionally, credentials, such as an accreditation or a secondary degree, can be helpful in your professional development and broadening overall business acumen. I have had two different careers within the investment world as a result of my willingness to builds skills and take risks.
What obstacles did you run into and what helped you overcome them?
Years ago while working in investment banking as a professional and a new mother, I had to make difficult career choices to manage both aspects of my life in such a way that I felt fulfilled and I could bring my whole self to the office and home. I have learned over the years that work and life are not a perfect balance and that I shift between the demands from both over time. Above all, I have had a tremendous network of both women and men along with a supportive spouse who have helped me keep my sense of humor and perspective. I have also had supportive bosses who helped me prioritize my family when there were conflicts and encouraged me to advance my career.
Did you have any mentors? How have they supported you in your career?
I was fortunate to have two mentors and a sponsor who helped me to take command of my career, to take roles that presented risks because the long game necessitated that I build skills and experiences, and to build and expand my support network. I found these individuals by chance (elevator pitch) or through my network. They were all senior executives but their business and market acumen along with their wisdom were instructive in helping shape each phase of my professional life. Born an introvert, they quickly helped me to build comfort outside of my natural inclinations. They encouraged me to ask for what I wanted, provided me with opportunities when I wasn’t looking for them (but was ready) and provided me with the moral support to be successful.
What makes you most proud of Vanguard?
There are many things of which I am proud but I would say the integrity and collaborative nature of the crew who are always guided by our mission statement – to take a stand for all investors; to treat them fairly; and to give them the best chance for investment success.
If you’d like to learn more about Gemma, please visit her profile on LinkedIn.
Bridging the gap between college and your career
I guess it shouldn’t have surprised me. There I was, a college senior, in the midst of the “Decade of Decision” and I had been stumped. Less than one year from that moment, I would graduate with a bachelor’s degree in Accounting and begin a new stage of life. Yet the number of forks in the road ahead was truly dizzying! Should I go straight into a graduate program? What about work experience? Should I pay my dues at a Big 4 accounting firm? Did I even want to work in accounting? In short, I wondered how to bridge the gap between being a recent college graduate and becoming a successful professional. With so many options to choose from, I was grateful for the recommendations of wise mentors who had successfully sailed the seas ahead that I too would soon face. As I was looking into graduate programs, one mentor explained that graduate school could be much more meaningful after a few years of work experience at an industry leading company that shared my personal values. He also encouraged me to show some initiative and attend a career fair at a larger university nearby. His counsel was full of good intentions, so a classmate and I packed our bags. (Who doesn’t love a good road trip?) That career fair helped me connect with my current employer: Vanguard.
Meaningful Work
From the moment I shook hands with my recruiter, I felt a sense of meaning behind Vanguard’s mission—to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. Finding a company with a strong purpose was important to me. Before Vanguard, I had the opportunity to volunteer as a service missionary for two years in Chile, where because of our strong core purpose and values, we were able to truly make a difference. At Vanguard, my position in our Retail Investor Group provides an opportunity where I see that purpose come to life in my daily interactions with clients. I find it very satisfying to apply the skills from my college days and accounting background as I explain complex topics related to investing. Helping clients in situations where they need guidance has proved to be my career sweet spot. I also developed a passion for teamwork during my college basketball career. My time at Vanguard has taught me that the only thing better than helping people reach their financial goals is to do it alongside peers and leaders that you really admire.
Balance
Gaining work experience is a top priority during this stage of my life, but it certainly isn’t the only focus! I enjoy spending time with my family, seeing new parts of the world, and volunteering in my community. Finding a balance between these different priorities wasn’t a new task, but I wondered what the balance would feel like once I graduated from college. Some career alternatives required a commitment to long hours at work, but Vanguard seemed to mirror my values with a focus on work-life balance. The time I spend at work is extremely engaging, but it’s my work at home that demands the best of me. Pair that work week with a generous paid-time-off package and finding that elusive balance becomes reality. I was also fortunate to qualify for paternity leave in June of 2018 after the birth of my daughter. That time helped me support my wife as we welcomed our little girl to the world.
Opportunities to Advance My Career
One thing I love about Vanguard is the variety of career paths available for crew (nautical theme intended) including Financial Advisor, Team Leader, and more. Networking is strongly encouraged, and time is provided for attending a variety of career-focused events like department overviews. A recent example was put on by our Hispanic/Latino Organization for Leadership and Advancement (HOLA) group and focused on the skills required to become a successful specialist. Every month, I take time to sit down with my leader who takes an active interest in helping me prepare for my next career move. I’ve discovered that my favorite moments include time to cultivate meaningful relationships with Vanguard’s clients, so I plan to expand on that in the years ahead. I’m also excited to pursue the Certified Financial Planner ™ (CFP ®) designation as I serve clients in more substantial ways.
Working at Vanguard has been essential to my professional growth in these years following my graduation. The purpose behind my work, balance between my other interests, and opportunities for additional development have made this a rewarding decision. If you find yourself in a similar situation like me in your final years in college, know that you’re not alone! In the information age, “analysis paralysis” can be a real obstacle. The encouraging thing is that you can make a great decision even if your information is incomplete. As you evaluate the different paths ahead, be sure to lean on the advice of mentors. Do your best to research options that are most important to you, like matching your personal values and doing work that you find meaningful. Once you have that figured out, trust that with some hard work and the right opportunities, you can turn any path into a rewarding career. The most important part of this stage of life is to keep moving forward. As you do, you’ll be amazed at how naturally you progress from recent graduate to successful professional.
-Josh F.
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What it means to be a thought leader
My family and friends often ask me to explain what it means to work as an investment analyst in the Investment Strategy Group at Vanguard. I answer by saying that my job is to develop thought leadership. Now, if you’re not sure what the phrase thought leadership means, you’re not alone. When I first joined Vanguard, I didn’t understand what it meant either. Essentially, within my role, thought leadership means investment research that aims to go beyond what’s already been published within the industry or showcases a differentiated opinion. This research helps Vanguard answer key topical questions: What is the value of financial advice? How should investors be thinking through decision-making in retirement? What is Vanguard’s outlook for the economy and the capital markets? Answering these questions by way of research helps Vanguard continue to educate our clients and crew—and helps further establish Vanguard as a leading investment management firm.
A vertical learning curve
When I began my rotation in the Investment Strategy Group through Vanguard’s leadership development program, I felt fairly intimidated by how much I didn’t know. The group was full of subject-matter-experts who not only conducted research, but frequently acted as ambassadors, discussing and delivering our group’s research in crew trainings, client meetings, and at industry conferences. While I had a background in economics and was passionate about investing, I was unsure about being able to contribute as a new team member within such a tenured department.
What I realized was that being surrounded by such knowledgeable leaders and analysts ensured that my learning curve was essentially vertical. The culture was so collaborative and grounded in intellectual curiosity that I quickly began to build both investment and technical acumen. Throughout various projects, I was able to leverage and maximize my own unique skillset while partnering with other analysts to bring my analytical skills and systems knowledge up to par. I loved the fact that there truly were no bad questions, and everyone was eager to share their experience and knowledge, whether it was over a casual coffee or in the midst of a department-wide town hall.
The content creation process
Shortly after completing my rotation and joining the group permanently, I was aligned to the Advisor’s Alpha research team, which focuses on investor behavior and the value of financial advice. When I began working on my first whitepaper, I collaborated with members of my team and partnered with leaders and practitioners in Vanguard’s client-facing divisions. Our goals were to create differentiated content that would shape the industry conversation and to outline best practices that would give institutional clients the best chance of achieving their mission (i.e. charity, education, retirement).
Creating thought leadership, no matter the topic, often happens in phases. We started off by doing deep dive research, poring through academic studies, industry intelligence, and previously published whitepapers. I really enjoyed the “get smart” phase because it allowed me to get a feel for the broader conversation happening in the industry around institutional advice. Then, we began outlining our approach, performing analysis, and drafting the paper. The writing phase was challenging but rewarding as we iterated through a number of versions and honed in on our structure, language, and visualization. Though it was a long journey, the skills I gained by working through the research process were invaluable.
A foundational skill set
My favorite aspect of working as an investment analyst in this group is that it’s given me broad exposure to numerous investment disciplines across the globe. While I work in Vanguard’s Scottsdale, Arizona office, the Investment Strategy Group is spread across our headquarters in Pennsylvania as well as a number of international offices, allowing us to conduct thought leadership on a global scale. By avidly reading and organically learning from experts in the department, I’ve built a base of knowledge across all of our research specialties including portfolio construction, retirement, and the economy and markets.
In addition to that wide-ranging foundation, I’ve delved deeply into my own research specialty. I realized that a challenging first step to being a thought leader and influencing industry conversation is being well-versed in what’s already been said. By leaning on my team’s experience and conducting research alongside our business partners, I’ve educated myself on the existing dialogue around investor behavior and the value of advice. In the future, I aspire to continue contributing to this dialogue as a developing thought leader (and proudly explaining my job to my friends and family when they ask!)
-Sneha K.
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Boots to Suits: Transitioning to the corporate world as a veteran
Recently, I was invited to be on a panel at Vanguard that focused on the experience of female veterans transitioning into the corporate world. Why did I receive this invitation, you ask? Because I’m a proud veteran of the United States Air Force, having served from 1990-1999. I left the USAF after serving in a variety of roles stateside as well as in the Middle East and Japan, and I consider those years to be my most formative as a professional. What struck me about my fellow panelists at that event was that our respective transition experiences varied greatly. After I separated from service, I spent a short period of time as a stay-at-home parent before taking on part-time roles as an instructor of economics and later as a financial advisor. In 2011 I finally transitioned back into the workforce full-time at Vanguard. In contrast, one of the other women on the panel served as a reservist and the third went directly into the corporate world after leaving the military. Although how we all got to this company differed greatly, being a part of that event reminded me of why I feel so energized and happy to work at Vanguard.
Leadership
At Vanguard, as in the military, leaders are expected to prioritize their people. I learned very early on that if you take care of your people, they will take care of you. Vanguard does an exceptional job of prioritizing and committing resources to crew development—and the results of that focus are crystal clear to me each and every day. We push crew to embrace and take advantage of training, some of which is mandatory and a lot of which is voluntary and available on-demand. As a leader at Vanguard, I spend an enormous amount of time coaching crew, in one-on-one sessions with my direct reports, and meeting with crew in my line. Everyone has their own passions and career aspirations, but I have always believed that my first priority as a leader was to figure out how to best support each and every one of the people who report to me on a daily basis. When our crew feel supported and valued, they in turn dedicate themselves to providing our clients with a world-class experience.
Mission driven
As an Air Force officer, I came to deeply appreciate the importance of having a clear and unified mission. Vanguard stands out within the financial services industry not because we have a mission (lots of financial services companies have one), but because the mission at Vanguard is simple, clear, and applicable to each and every one of us. If you want to get a team to make progress towards a goal, every member has to know precisely where you’re going. Ideally, they also understand why you’re going there. How you get there can be different across the organization, but the final destination must be a clearly defined point on a map, whether literally or figuratively. I love working at this company because I know precisely where we’re going in the very confusing world of investments and what we are all collectively trying to do.
Responsibility
A final similarity I’ll share between the military and Vanguard is that in both cases the people doing the job feel a strong sense of responsibility to those they are serving. Every day I overhear our crew working through very challenging client situations; without fail, what strikes me is the deep sense of ownership and accountability exhibited by those I work with. The best comes out of people when they are taking care of other people. At Vanguard, we take care of our clients, and we never stop trying.
On Veterans Day this year, I am grateful for the years I served and for those with whom I served. I am also extremely grateful for the chance to work at this company, because I can honestly say that I usually leave work feeling like I made a difference. More than anything, I’m grateful to spend my days, my energy, and my intellect at a place where smart, ethical people devote themselves to achieving the Vanguard mission of giving every investor the best chance for investment success.
-Anne-Marie G.
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From Airman to crew member: Presenting the best of myself
I began my working career as an Airman in the US Air Force. After serving 8 years, I recognized the strength of the core values I gained: Honesty, Integrity, and Service before Self. Those values, coupled with the foundation set during my childhood, created the woman I am today and help to drive every decision I make. In 2003, I separated from the Air Force after determining that one of my goals of becoming an officer could not be realized due to a prerequisite change in the application process. Feeling a bit lost and unclear of the path ahead, I began the search for the next chapter of my career journey. I relocated to Charlotte, NC and was introduced to Vanguard. Shortly after, I was extended the opportunity to join the company–officially transitioning from Airman to crew member.
Joining a company with a variety of growth opportunities was an important factor for me. Fortunately at Vanguard, I’ve been afforded the opportunity to grow both personally and professionally in countless ways throughout the duration of my career. Often times it has been through a job assignment which required an expanded set of skills. However, I’ve also grown by being in tune with my abilities and knowing when I needed to enhance a competency. One of those competency’s I knew I wanted to gain more knowledge on—and be more effective at—was communication.
I always knew how critical it was to be an effective communicator, but also knew I wanted to become stronger in this area. To that end, last year I signed up for our internal Toastmasters club. While I was reluctant, I knew that only positive results could arise from the experience. Since becoming a member, I’ve become more comfortable with speaking in public settings, more confident in presenting ideas, more assured to share input. For example, I’ve agreed to take on key roles in events such as moderating a Fireside Chat (or Meeting with the North Carolina Leadership team and) with our Chief Human Resources Officer at Vanguard, and on a more personal front I recently served as the master of ceremonies and also a presenter during a women’s conference at church.
To shift gears to written communication, a few years ago I sought out a class on the topic of business communication. While I walked away with many tips, I regularly leverage a couple best practices for communication via email specifically.
- Balance when to leverage email vs phone. For example: if the email will take more than three exchanges, make a phone call.
- Keep information succinct to capture the reader’s attention. For example: if the reader has to scroll down the email to obtain all of the written content, chances are: the email is not succinct enough. Make it a goal to ‘eliminate the scroll’.
There are situations when a more thorough communication is relevant (perhaps in written form and/or planning for a presentation). In those instances, it’s important to find the right mix of information to share and I like to use the “5 W’s + How” as my template:
- Who is my audience
- What does my audience need to know
- When is the decision needed, the change occurring etc.
- Where is the impact if applicable
- Why is the change or recommendation needed and
- How will the plan be implemented
These steps have helped me to keep messaging as concise as possible while sharing what the audience really needs to know.
In closing, I share my complete gratitude to be part of an organization who truly cares about our Clients, our Crew, and our Communities. I feel honored that Vanguard cares enough about our crew to support and encourage continued development. I was proud to serve our country and I’m equally proud to serve our shareholders.
-Dru J.
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Make feedback expected, so it’s accepted
It’s National Career Development Month this November, and Vanguard Leadership Performance Consultant Matt P. offered to share his insight on creating a feedback culture—and as he mentions, it doesn’t need to be scary! If I’ve heard it once, I’ve heard it a hundred times: “I’m open to feedback. Please share it with me as soon as you have it.” But once there’s something to share, feedback becomes the “gift” everyone wants to return. For over ten years now, feedback has been an integral part of my professional (and personal) life. As a corporate trainer, leader, and now Leadership Performance Consultant, I recognize that feedback is an essential ingredient in the development and growth of others (myself included). I rely on both dispensing and receiving it. And others rely on my ability to articulate its importance and understand its impact to their career. It’s normal for our skin to get too “thin” when it comes to feedback. And aside from the good game a person may talk, feedback is generally avoided. You can predict the result: Development stalls, or even halts completely. Feedback doesn’t need to be scary. And although it’s often misunderstood, it isn’t complicated. My advice: Run toward feedback! Dispense it with empathy, and receive it with gratitude.
So what is feedback?
Well, at its most basic, we use feedback to “grow, show, or know.” More specifically, this means providing “developmental” or “evaluative” (sometime both) feedback to help someone. And that someone shouldn’t necessarily be an employee who is getting a message from a leader. Feedback works best when it’s given peer-to-peer, leader-to-direct, and direct-to-leader. We’re all in this together. So what are the nuances between developmental and evaluative?
At the highest level, developmental feedback is based on a desire to grow or develop someone at an individual level. It provides detailed information on how behavior or performance can be changed or maintained. It also gives minimal indication or performance relative to others. In contrast, evaluative feedback is usually for a defined period of time and aligned to a specific competency. It’s often tied to specific rewards or compensation, and focuses on outcomes or relative impact to others. Lastly, feedback is not coaching. But feedback informs and drives coaching. Feedback is factually based and past tense. “In yesterday’s meeting, you did XYZ. Here was the impact.” Coaching gets into where you go from here.
Often times, people give compliments in lieu of feedback. “Great job in today’s meeting!” Thanks. But what was so great? This is a prime opportunity for specifics. “Great job” is more of an opinion—a compliment at its best (at its worst, it avoids giving detail and thoughtful insight). Instead, try linking what someone did to the expected results of the job, or something the recipient is working to improve. And don’t worry; you can still be complimentary: “Great job instilling confidence in your stakeholders yesterday. During the meeting, you answered every question with detail, affirmed next steps, and assigned deadlines appropriately. As a result, everyone left with a better understanding of his or her responsibilities, as well as where the project is going.” See the difference?
Find your approach
In order to be truly effective, feedback needs to become habitual—think brushing your teeth or going to the gym. Each of us should be looking for opportunities, regardless of role or level, to make feedback more deliberate and disciplined. If you’re asking for it, reflect on what you can do to solicit for it, and make it safe and easy for others to provide it. Don’t get defensive. Seek to understand, thank the messenger, and reflect on what you heard. If you’re giving it, be thoughtful and specific with the message, and show that you’re invested in someone’s growth, not looking to nit-pick. Provide it often so it becomes routine and is expected by others.
So often what I observe is that feedback is only given when someone does something that falls on the furthest ends of what I call the “Nailed it! Failed it!” spectrum. If Cynthia does a “great job” in a meeting (Nailed it!), she gets a compliment (again, not feedback). If Cynthia messes up (Failed it!), she gets feedback about what she did “wrong” (and coaching may or may not accompany it). Resist the temptation to live on the fringe. Most of what we do in our careers are neither “Nailed it” nor “Failed it” case studies. We live in the “in-between”. And here lies the greatest room for feedback to work its magic.
Here’s an example: “Matt, I appreciated your participation and insight in yesterday’s staff meeting. Can I offer you some feedback? I noticed a few times throughout the meeting you were checking your phone. During one of these instances, you weren’t able to notice the non-verbal reaction several teammates had to something you said. Keep in mind that looking down at your phone instead of reading the room may serve as an impediment to your ability to counter resistance, read the room, convey commitment, and or effectively influence others.” This is an instance of where giving a precise and meaningful piece of feedback can help a teammate understand the impact of his behavior. And, should he chose to act on it, get better!
Make feedback more habitual by carving out time in one-on-ones, team meetings, and/or coffee chats with colleagues. After a while, others will see feedback for what it is—a conduit for insight and development, not penalization. The more people understand that it’s being given not only to address large skill gaps (appropriate, though not the norm), but to reinforce positive behavior and improve performance and overall development, the more people will seek it out–even expect and appreciate it! Create a safe, empathetic environment for giving and receiving feedback, and strive to make feedback more expected, so it’s accepted. Only then will it truly be the “gift” that everyone wants to receive.
-Matt P.
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What NOT to ask a Recruiter
Recruiters love hiring candidates into their dream jobs and roles they strongly desire. When you speak with a recruiter, make sure to consider how the recruiter may react to your communication with them. Sell yourself. Show your enthusiasm. Recruiters are very perceptive and will take note of anything you share, so do not take the initial conversation lightly. They are great resources for the company you are targeting but they are also the “gatekeepers”; a company’s link between you and the hiring manager. The questions you ask can say a lot about you as a candidate. Make sure your questions are thoughtful, genuine, and show that you have done a little research on the role you are targeting. Here are some suggestions on the best questions to ask—and a few to avoid.
“What does your company do?”
Never speak with a recruiter without having some idea about what their company does. There is no greater turn-off to a recruiter than for you to know nothing about their company, and no greater compliment than for you to know a few interesting facts. These days you can find interesting tidbits from a quick internet search, or you can be a real superstar and watch a few of the company’s videos. Watching the company’s employees by video is a great way to develop engaging questions for your interview. Or bring up an interesting fact you learned from recent news and ask the recruiter to share their opinion.
“Is there anything I should have asked and didn’t?”
Under no circumstances should you ever ask this one. Always, always, always prepare thoughtful questions for the end of your interview. When you have no questions, the recruiter assumes you are not interested in the opportunity or that you are unable to think strategically. Instead, ask if there is anything more you should know. Never end an interview without a question for your interviewer.
“How many vacation days would I receive?”
Try not to ask questions that can be answered by visiting the company’s career site. Make sure to conduct proper research and maybe even teach the recruiter a thing or two. Instead, read blogs, watch videos, read corporate news, look at company reviews on employer review sites, and connect with alumni from your school, or other company employees on LinkedIn.
“What do you like about your job?”
This isn’t a terrible question, but unless you are interviewing for a job in Human Resources, our answer may not help you at all. As an alternative, ask what they like about the company and uncover information that will help you to make a better decision against other offers. Remember when I suggested that you connect with other employees with similar interests? Well, that is a great question for your connections.
“How did I do in the interview?”
Never ask this question. Recruiters need time to reflect on their conversation with you or take time to speak with the hiring manger. In the moment we will not be able to share feedback with you. Instead, proceed with your own process of reflection. Follow up with a thank you note which can even include any additional points you failed to mention in the conversation.
Interviews are scary for most people, but remember that your recruiter is human, too. They are trying to fill a position (or many positions) so they always want you to do well. Keep in mind that if you do not receive the role, do not take it personally. There may be limited positions or other candidates were a better fit for some reason. Your professionalism throughout the process will make you a great candidate for another position in the future!
-Kassie H.
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Four Unexpected Things I Love about Working in Investment Management
Last summer, after working in various “business” roles across Vanguard, I, nervously, pursued an opportunity to work in Vanguard’s Fixed Income Group as a trader. I had always been interested in investments—that interest was what brought me to Vanguard and led me to pursue the CFA® designation earlier in my career. However, the only investments I had actually managed were what was in my retirement account (and admittedly I managed those somewhat sporadically). I was excited by the prospect of turning my academic interest into a career. While nervous about the learning curve, I had high expectations for the role. I expected my favorite aspect of the job to be the learning; to love the challenge; to enjoy being more in tune with the markets and what’s going on in the world. And after a year, I can confidently report that all of these expectations have been met; I have enjoyed these aspects of the job. But some of my favorite parts about my role as a trader are things I did not expect:
The collaborative process
Looking back it seems silly, but when I pictured a successful trader before I worked in investment management, I envisioned someone who could quickly comprehend what was going on in the market and then swiftly, and independently, act on it. I completely underestimated the collaboration that occurs on the trading floor. I frequently see expert traders and strategists, often with decades of experience, approaching a colleague to run an idea by them or ask their opinion. In fact, some of the most senior and successful traders are the ones who do this the most often.
Infectious passion
Spend a few hours in Vanguard’s Fixed Income Group and you will quickly realize you’re surrounded by people that LOVE their jobs. You can hear it in the way they talk, and, fortunately for me, the way they teach. The excitement and inherent interest when you bring a group of passionate people together begets further interest when questions are raised and opinions debated.
Diverse backgrounds of my coworkers
You may be noticing a trend of faulty expectations on my part… but I thought the typical career path was study finance à work in an investment support function à move into front office trading. I love that, again, I was wrong and that there is no typical career path. I work with former consultants, aerospace engineers, accountants, computer science PhDs, English majors, and self-taught coders. It seems obvious now but diverse backgrounds yield diverse thought which is what makes a great investment team.
Tangible impact on clients
Perhaps I should have expected this but my favorite aspect about my job is the tangibility of the impact we have on clients. It’s a great honor and great responsibility to manage our clients’ money. I’ve been fortunate to have experienced that impact in all of my roles at Vanguard but never has the impact been as tangible as it is as a trader. It’s incredibly rewarding to measure the impact you have in helping clients progress towards their goals.
A year ago, I thought the trading floor was an intimidating place. Now I think it’s an incredible place to learn and have an impact while working with some of the most passionate people I’ve encountered.
-Molly C.
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I started my career at Vanguard just a few months after graduating from Penn State. I didn’t know what to expect in the short or long-term, but I knew that I had a great opportunity before me. Vanguard, and our pioneer founder John Bogle, had and still have a stellar reputation as a place to invest and as a place to work. The feedback is consistent whenever I talk to people about where I work, and it started as soon as I got the job offer. I was hearing “That’s where I have my accounts!” and “I know someone who works there, and they love it!” It didn’t take long for me to realize that the success of the company and our reputation are well-deserved, as every focus is to do what’s right for our clients. This didn’t change, of course, as my career progressed. With additional responsibility came a greater level of care and attention to detail. As a financial advisor now, I use a measured and practical investment approach to help my clients reach their goals. We focus on controlling risk, as well as keeping investment costs and taxation to a minimum. Controlling risk and tax efficiency is practiced by advisors anywhere—but where Vanguard aims to set the bar is at cost management. It has been at Vanguard’s core from the beginning, when the aforementioned John Bogle founded the company with the goal of treating investors fairly.
These Vanguard advantages are so powerful for me as an advisor. I can focus on getting to know my clients and pairing them with the right solution without any second-guessing. This is the ideal climate for a trusting relationship—one that will survive through good times and bad. It seems like everyone is bracing themselves for the next correction or bear market, investors and advisors alike. Only the trusted advisor will maintain their clients’ confidence through turmoil, and I look forward to the challenge knowing that we have a rock-solid foundation.
In the meantime, I’m doing what I love. I’m helping people. As financial professionals, we may not realize how stressful finances can be when you don’t have a plan. You could argue that we’re as important to someone as their primary care physician or their psychologist, and that gives me tremendous satisfaction. And to be able to do it at Vanguard—it doesn’t get any better than that.
-Vahan T.
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