A lifetime of opportunities to lead, grow, and impact others
It was 1999. I was just finishing up my college degree, and was stuck at a crossroad, trying to decide where I wanted my career to go. I knew I wanted to be involved in a company with a rich culture, strong leaders, sound values, and growth opportunities galore – easy enough, right? When I came up dry with opportunities, my mentor recommended I look into Vanguard.
Finding a core purpose at Vanguard
My first few years at Vanguard were spent solving investment puzzles for shareholders who had encountered account-related issues. Working as a Resolution Associate in the Service Recovery organization gave me the opportunity to support clients with account-related issues. I could see the purpose in my work, as well as the positive impact I made on each client. And, I learned to embody Vanguard’s core purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. It was fascinating to research each issue and get to the root of the problem. Even more thrilling was the opportunity to offer solutions for our clients.
While I loved working in Service Recovery, I decided to explore new horizons, and research different career options at Vanguard. One path I hadn’t expected to find myself in was leadership. When one of my leader’s noticed my passion for continuous improvement and knack for supporting professional development among my peers, they suggested I pursue a role in people leadership. What a great opportunity this was – Vanguard was investing in me, so that I in turn could invest in others. If you are exploring a role at Vanguard, read on to learn what differentiates our people, and why I chose to spend nearly two decades as a Vanguard leader.
First, leadership at Vanguard isn’t something you do for a title or recognition. Rather, leadership is about serving the needs of investors and enriching the development of your team. While exploring career opportunities, delve deep into the values of the organization; their mission and purpose should align with your beliefs. At Vanguard, our core values are centered on ‘doing the right thing’ in every decision we make. It’s the primary reason why I am both a long-term investor and a long-time crew member. Truly successful leaders nurture and develop a growth mindset to create value and continually improve the organization and their teams. In my experience, these leadership elements enable you to leave a lasting legacy for the benefit of others.
A return to my roots
After spending 15 years working in a variety of leadership roles in our Retail, Financial Advisor Services, and Office of the General Counsel divisions, I have now returned to my roots as the leader of the Service Recovery organization in which I began my career. In my foundational years at Vanguard I learned how to embrace Vanguard’s core purpose. In my latter years, I learned how to lead and serve others within a global community that continually invests in the long-term value we bring to both shareholders and crew. These are the core reasons why I have dedicated my career to Vanguard. My hope is that you too find a role that enables you to grow and to leave a positive mark on the lives of those who come across your path.
-Célestine H.
If you’re seeking an environment where you can make a difference and develop professionally, check out our career opportunities at www.vanguardjobs.com.
There has to be a better way!
My story, however, is a bit different… It all started in June of 2015. I was working for another financial institution, prospecting clients by going door-to-door, introducing myself, and trying to build my pipeline. On this particular day in North Carolina, it was close to 100 degrees. I had on my second suit of the day, and about 200 homes and 4 miles under my belt. But when I got to the end of the cul-de-sac, an exchange happened that changed the course of my financial planning career. I walked up to a group of three friends. They were sitting in the garage sharing stories and having a good time. As I walked up, one of the gentlemen offered me some water and questioned why I was in a full suit walking the street in 100 degree weather. I started to share who I was and what I was doing. As I was speaking, he abruptly interrupted and said that he worked for Vanguard, and that he and his friends already had Financial Advisors at Vanguard and were not in the market to switch. I started to answer with a rebuttal, which is when he questioned if I thought knocking on stranger’s doors for 5 hours a day, hoping for a client that had the assets to invest and that trusted a stranger on the porch was a sustainable model. More importantly, did I enjoy what I did? Both were very valid questions. I began to reflect on my time at my past company: I was doing well at gathering assets and I was meeting my metrics each month. I knew there were other models of advice, but were they really any better or just different? When he gave me his name and email address, I assured him that I was happy and continued on with my day. About 6 months later, I was in the same neighborhood to follow up with a prospective client when I heard the same gentleman from across the street, “Hey, you still having fun? You know, Vanguard has a Personal Advisor® department. You should look into it.” I clearly remembered our first interaction and his questions began to echo in my conscience. I thought of what had transpired over the past 6 months. It brought back memories of having the cops called on me 16 times, being chased by 2 dogs, and literally walking a hole into a brand new pair of shoes. I remembered the time I had to justify a decision that was better for the client, but offered less commission. I thought to myself, there must be a better way! On a Vanguard team outing at the ice skating rink. I decided to take this gentleman up on the offer of applying to Vanguard and seeing if we were a good fit for each other. After speaking with the recruiter multiple times and learning more about the opportunity, I came in for an interview. In April of 2016 I accepted an offer and became the first external Voyager Advisor at Vanguard. Looking back on my experience, I wished I had known about the position earlier. I am able to do the right thing for the clients at all times, without fear of missing a commission. I have engaged co-workers that push me to be better instead of trying to steal my clients. Most of all, I enjoy coming to work every day knowing that I get to help make a positive impact in the lives of our clients. It turns out the guy from the garage was right – there really was a better way. -Ricky J.
There are many paths that people have taken in order to find their way to Vanguard. Some are by usual means like career fairs, development programs, or referrals from friends and family. No matter what leads you to Vanguard I am sure that like myself, most people are glad they are a part of the team.
If you’re seeking an environment where you can make a difference and develop professionally, check out our career opportunities at www.vanguardjobs.com.
Day in the Life of a Vanguard Trader
Have you ever wondered what it’s like to do the actual investing at one of the world’s largest investment firms? To find out, we spoke with two principals in Vanguard Equity Investment Group. Mike Buek is head of U.S. trading and Gerry O’Reilly leads a team of index portfolio managers. They gave us an inside look at a day in the life of a Vanguard trader. Our conversation has been edited for length and clarity.
What is the role of a trader at Vanguard?
Mike Buek: Our trading desk acts as a combination portfolio manager and trader for Vanguard’s index funds. So we understand the entire investment process. We seek to minimize tracking error to the benchmark while at the same time minimizing the fund’s transaction costs.
We want an index fund to be 100% invested to its benchmark. We monitor any changes to each fund’s benchmark and match them in our trading.
Gerry O’Reilly: At the same time, our traders manage the trade-off between tracking error and impact. We employ proprietary trading strategies to try to minimize the impact our trading has on the overall market.
So if we have a large inflow to a fund on a given day, we have to decide whether we have market impact and still track the benchmark or if we can minimize impact by trading this inflow over multiple days. It’s important to look at each trade relative to the market so we can understand what the market can absorb.
Every trader on the desk employs strategies we’ve developed over the years. For example, we’re fans of using limit orders as a way to minimize impact.
How do you prepare before the market opens in the morning?
Mike Buek: We typically come in around 7, 7:30. We check what the international desks in London and Melbourne have done so far. Then we go right to reconciling each fund to make sure we’re 100% invested. For example, we may have expected to receive $50 million on a given fund the previous day, so that’s what we invested. But then the next morning, it turns out the fund received $55 million. We need to get that $5 million invested as soon as possible. In this case, we’d invest in futures to get the fund fully invested because the market isn’t open yet.
Gerry O’Reilly: Each trader also has to sign off on each of their funds in the morning, saying they agree with each fund’s status. Someone from investment risk also signs off, as well as the desk supervisor. So there are three different sets of eyes looking at the funds each day, making sure the starting line makes sense.
Each fund, based on its size, has a certain tolerance. For example, Total Stock Market Index is an enormous fund. If it starts the day with $10 million in cash, that isn’t a huge deal proportionally. It’s not even a basis point. But $10 million cash in one of our smaller funds could be a huge deal. Our investment risk group monitors those tolerances.
Knowing that you have someone keeping an eye on the performance of the fund and the benchmark is a big source of comfort. As much as we’d like to try to eliminate any potential tracking error, it’s probably unrealistic to think it will always be that way. We closely monitor what little tracking error there is.
Mike Buek: We also look at the performance from yesterday. We’ll look at every fund’s performance versus its index. If there’s anything off, we want to know why. If there’s a reason we knew about and it makes sense that we outperformed by 3/10 of a basis point—and that’s how deep it gets, explaining fractions of a basis point—we investigate so we can adjust and get the fund tracking as close to perfect as we can.
Mike Buek, Principal, Vanguard Equity Investment Group, U.S. Trading
How does the experience change throughout the day?
Gerry O’Reilly: Our data group gets notified of the index changes coming at that day’s close. Once you know an index change is coming, a fund tracking that index has to adjust.
On a given day, you could have 10 to 20 different corporate actions going on, such as a company issuing more shares. Each trader gets assigned a corporate action and takes point on that stock. They will figure out what each fund needs to do to ensure the index weights are correct.
Trading can get really busy when indexes add or remove names. Say, for example, XYZ Company has outgrown a small-cap index and is being added to a mid-cap index. We’d need to mirror that move in the funds tracking those indexes.
How does Vanguard manage the global nature of the market? What specific difficulties come up?
Mike Buek: When we go global, we’re passing trades to Vanguard’s European and Australian-Asian desks to execute. And they pass us trades to execute for their funds. The communication has to be good between the three desks so the traders executing each trade understand the objective.
That’s challenging because of the different hours, but with improved technology and our expanded team, we’re able to make sure our portfolio management is globally consistent.
Gerry O’Reilly: International trading can often involve more markets. In the U.S., we mainly deal with the NYSE and Nasdaq. In other regions, you might have 10, 15 different markets closing at different times with different rules. In Europe, you’re looking at “When’s Norway closing? What about Germany?” You have to make sure you get your orders down in time because if you miss it, you miss it.
The other obvious difference is currency. U.S. investors are giving us dollars, which we have to convert into local currency when we buy international stocks. So in addition to the equity trade, our teams need to address the currency piece in order to keep the cost of the trade to a minimum.
Gerry O’Reilly, Principal, Vanguard Indexed Equity Portfolio Management
Without getting proprietary, what would you say sets Vanguard’s trading desk apart?
Gerry O’Reilly: At a high level, one of the things that differentiates our desk is the level of experience. Mike has 30 years at Vanguard, and most of that is on the trading desk. I’m at 25 years and almost 23 on the desk. I’d say the average tenure for our traders is probably 12 to 13 years.
On this desk, we have people who specialize in different areas. When we get information from the street from our brokers about what’s going on with a name, we can funnel that to the appropriate person to address that information.
You learn from experience. None of us are set in our ways. You have to be willing to change and learn from past experience.
Note:
All investing is subject to risk, including the possible loss of the money you invest.
If you’re seeking an environment where you can make a difference and develop professionally, check out our career opportunities at www.vanguardjobs.com.
Getting up to speed on Fund Financial Services
Krista, a Fund Financial Services (FFS) Senior Financial Analyst, approached her team’s networking event with a clear purpose, “We want to educate crew on what we do and the many crucial processes we touch every day.” At a company like Vanguard, there are so many options for career development and, at times, it can be a little overwhelming. That’s why more and more teams like FFS are hosting networking events for crew throughout the organization to learn more about the department, the teams, and open roles. This event was set in the style of “speed dating” – a format where crew meet with team representatives for 10 minutes, then switch tables throughout the event. Those interested in pursuing careers in FFS got information about critical functions and groups, key initiatives, and how to build financial acumen. Attendees even got to learn more about competencies and skills needed to excel in these roles.
“The interesting thing about our team is that there is a transparent career path. You can go from an entry level position all the way to manager with a clear roadmap. The job is primarily project based, not day-to-day versus a typical daily operational role,” described Brad, a Supervisor in Fund Reporting. Krista added, “Attention to detail is important. We are constantly interacting with teams both internally and externally. Relationship management is also a key component.”
Brad shared with the attendees, “We see the full lifecycle of our reports (annual, semi-annual, quarterly) and they have to be diligently reviewed and ready to send to shareholders in strict adherence to the production schedule. You need to possess great time management skills to manage the entire process. I like that aspect – you finish with a tangible product at the end of the day. You get to hold it and touch it. When people ask me what I do, I can hand them a finished product.”
Jake said, “I joined our team over two years ago when there were nine analysts plus managers. Now we’re over 20. It’s an explosive period for our group and we’re looking for new talent. We hope to find people who are genuinely interested.
Critical thinking is an important part of the job. We may get a week notification that we’ll be trading a new product. We have to get ready for new processes quickly.”
Kelsey, who coordinated the event, said, “FFS has previously hosted speed networking events to provide an opportunity for crew throughout Vanguard to learn more about how we support Vanguard’s funds and clients, while building relationships and networking. We expanded the event and gave different groups from the Finance division a chance to represent their teams. Overall we had 28 different teams represented and over 95 crew attending!”
If you’re seeking an environment where you can make a difference and develop professionally, check out our career opportunities at www.vanguardjobs.com.
A conversation with a Vanguard Sales Executive
We recently sat down with Anthony W., a Sales Executive in Vanguard’s Financial Advisor Services. Anthony’s role is unique in that he spends his time “in the field” with advisors, and does not work in a Vanguard office. Anthony shares his thoughts on why he loves sales, how he makes a difference, and how football prepared him for his role at Vanguard. I partner with wire house and independent financial advisors through the broker dealer channel. I spend my days learning about the landscape of their firms, each advisor or team’s business model, their investment philosophy, types of clients they serve, service model, and their growth strategies. From there, I focus on creating value for them, which includes: providing Vanguard products and resources to give their clients the best chance for investment success, sharing perspectives that are new or different, and offering actionable ideas to help grow their businesses. My goal is to ensure Vanguard is a part of their future growth and success. You don’t get to spend a lot of time with co-workers, but Vanguard has a very collaborative culture. Working remote, is it hard to stay connected with your team when you don’t sit near them? We’re still connected, it’s just a different type of connection. We catch up over video and group text rather than going out to lunch or meeting in person. You have to be proactive to stay connected and exchange information. The camaraderie is there, it’s just digital. Commuting in Los Angeles provides plenty of windshield time to call and speak with peers. So it’s fair to say this is a very independent role. Autonomy is huge – I liken our work to running a business inside of a business. It’s a big ask to run a territory, and there is less oversight, which means you have to be disciplined and trustworthy. Working well with your management team and internal partners is key. I enjoy the opportunity, but it’s not for everyone. Learn more about our Financial Advisor Services sales careers in the video below!
Thanks for joining us, Anthony. Your role is different compared to many of our crew. Can you talk about a day in the life covering financial advisors in Los Angeles?
What drew you to being a sales professional?
I played football at the University of Arizona and I enjoyed the competition and adrenaline rush of the game. For me, sales was a natural transition from sports. You have to set a goal, analyze the industry and competitive landscape, and execute a game plan. Football taught me the importance of a highly functioning team that works together towards a win. Instead of defending opponents on the field, we’re using Vanguard resources to give advisors an advantage in the marketplace.
Sales is also about helping people arrive at a conclusion they hadn’t considered. Some of my favorite advisors are the ones who have never partnered with Vanguard. I like the challenge of establishing a new relationship, building credibility, and helping advisors manage their assets. When you’ve made a difference for a client, it can feel like making a big play in a big game.
You’ve worked in sales in other roles at Vanguard. How did these previous roles prepare you for this one?
I started in our Business Development Group (BDG), a department that specializes in bringing new clients into Vanguard and introducing them to our advice capabilities. This was a tremendous opportunity as it allowed me to hear thousands of investor’s stories, understand the issues they were facing, and support them through the global financial crisis.
Working in BDG was like going to sales university–it taught me how to have a consultative sales conversation. Talking to someone who trusts you with their financial life is powerful and humbling. There can be a lot of uncertainty and we were able to help clients financially and emotionally through the investing process. After you master these skills, you are ready to move on to a different level of client, with different needs.
So obviously you like sales, but why sales at Vanguard instead of another firm?
I’ve been at Vanguard for eleven years and the culture is very different from other firms where I’ve worked. Vanguard puts clients first. We have no outside shareholders to answer to. No conflicting interests. It’s gratifying to walk into an advisor’s office and know that I can do good and do well at the same time.
What advice would you give someone who’s interested in a sales career here?
Be a good listener and learn how to disagree well with those who hold opposing views. Both of these take time and practice, but give you the ability to connect with others and overcome real objections.
Being successful at sales is more than identifying current needs and providing solutions. Deepening your business and investment acumen will help you deliver differentiated perspectives that add value. Clients need us to offer something that enhances what they’re already doing and make them more successful.
It’s also key to remember our guiding values – focus on doing the right thing and giving all investors a fair shake. It’s truly why we’re here.
If you’re seeking an environment where you can make a difference and develop professionally, check out our career opportunities at www.vanguardjobs.com.
From transaction processing to Times Square
As a video producer and motion graphics designer, people are often surprised to hear that I work at Vanguard. “Isn’t that a financial company?” they ask. But as part of Vanguard’s Marketing and Communications department, I get to produce, direct, and edit videos for vanguard.com, social media channels, and live event experiences. I also design and build motion graphics in addition to providing photography services. My team is comprised of highly-experienced designers who came to Vanguard from very diverse backgrounds. Collaborating with designers, writers, and marketing managers across my department is the best part of my job. How I got to Vanguard I’ve been producing video since I was 9 years old and worked in the live control rooms for both a national television network and a professional baseball team. So how the heck did I wind up at Vanguard? I’d known about Vanguard for years—the investment giant in Philadelphia’s backyard. I heard great things about Vanguard as a place to work, and though it’s a financial company, I knew there were communications and creative job functions throughout the company. I looked for the perfect “foot-in-the-door” position that would allow me to learn the business (and teach me how to manage my own retirement plan!), with the goal of eventually moving into a communications role. Friends thought it was a risky idea, but I had confidence in Vanguard as a stable place to work and an opportunity to reach my career goals. Little did I know that someday I would see my work in the middle of Times Square. I started as a Retirement Plan Processing Associate. The robust training and onboarding process was intense, but a great opportunity to build relationships with my class—friendships that are still going strong 10 years later. After two years serving about 70 retirement plan sponsors spread across the country, I landed a job on an internal communications team. My plan was working! In my 5 years on this team, I had opportunities to write scripts, design graphics, and produce videos from concept to completion. I often worked directly with members of Vanguard’s senior staff, which was both exciting and an incredible learning experience. I was then promoted to Lead Multimedia Designer in Vanguard’s marketing department, where I’m able to use my 25 years of video production and design experience to serve our clients, at a company that truly makes a difference. Vanguard was launching a new fund with the Nasdaq exchange, which gave us the opportunity to advertise on their iconic video screen in the heart of Times Square. I was asked if this unique project was something we could handle. “Of course,” I said. But… we only had a few days to write, produce, approve, and deliver the video. Our creative team worked together very closely on sharpening the messaging and designs. We wanted to ensure our message was short and sweet for New York’s fast walkers. Then there was the added challenge of fitting our graphics and content around the tower’s 26 windows. The video was one of the fastest—and definitely biggest—projects I have ever worked on, which only added to the thrilling experience. It was great to see how our creative team rallied together to get the video not just done, but done well, and on time. In the end, I was lucky enough to attend the launch in New York with about 20 fellow crew members from across the company. And at the opening bell, there it was—the animation we made just a few days prior! It gave us all chills, and needless to say, there were plenty of high-fives and selfies! I’ve been quite introspective about my Vanguard career since seeing my work displayed in such an iconic location. What some called a risky career move turned out to be the best decision I ever made. My time at Vanguard has been adventurous and rewarding in more ways than one. From serving clients, to working with senior staff, to camaraderie with a fun and diverse marketing organization, it’s been a great 10-year journey that leaves me even more excited about the future. -Frank K.
My “little” Times Square project
If you’re seeking an environment where you can make a difference and develop professionally, check out our career opportunities at www.vanguardjobs.com.
A new country, a new company, a new career
Michael P. is a Senior Investment Analyst in the Portfolio Review Department. He is an alumnus of Vanguard’s MBA Leadership Development Program and is originally from Seoul, South Korea. This is Michael’s story of why he joined Vanguard and what he learned along the way. A surprising introduction One evening during my first year at Tuck School of Business at Dartmouth, I attended a company presentation led by two Vanguard crew members. I still vividly remember the presentation, as it was quite different from what I expected. Rather than talking about how many assets Vanguard manages and how Vanguard funds are performing, the two crew members spent most of their time talking about the collaborative culture of the firm and how they are structured to do the right thing for clients. I was instantly intrigued, as having been in the asset management industry for most of my career, I saw right away that Vanguard was a different kind of company. I found out my instincts were right after I joined the firm as a member of the MBA Leadership Development Program. Every crew member I’ve spoken with knew and believed in what the company stands for. It was refreshing to be part of an organization that is dedicated to the investment success of investors all around the world. Becoming a Vanguard crew member meant that there was a lot of change ahead for me. On a personal level, I got to settle down in my new home in suburban Philadelphia, 7,000 miles away from my hometown in Seoul, South Korea. At a professional level, I was eager to take on new challenges through the rotational program and expand my perspectives beyond my previous experience as a fixed income portfolio manager. With that in mind, I took my first rotation in a product development research role in the Portfolio Review Department. Conducting research and drafting proposals to launch new products was quite different from trading bonds, but I was able to pick up a lot of new skills and enjoyed every moment of it. After my time in the MBA program ended, I launched in my current role as a Senior Investment Analyst. Things I learned along the way It’s hard for me to fully appreciate how lucky I was to have this journey from Korea to Vanguard’s headquarters in Malvern, PA. Reflecting back on my experiences, here are a few things I picked up that helped me along the way: 1. Be open-minded to new opportunities. The rotations of the MBA program are well suited to help you experience the various ways you can impact our shareholders’ financial well-being. Like me, you might find a new area of passion and learn new skills in the process. 2. Be aware that there are many people who are invested in helping you, and don’t hesitate to ask. I was consistently surprised how many crew members around me, both leaders and peers, placed my professional growth and development as one of their top priorities. This was a critical factor behind my successful transition. 3. Be ambitious. Here at Vanguard, we are excited about how much more we can do to fulfill our mission of helping investors achieve their goals. This is where every crew member’s extraordinary effort, wisdom, and enthusiasm makes a real difference. Are you ready to bring yours?
If you enjoyed this post, check out more from our #LifeatVanguard Blog! And if you want to learn more about our MBA Development Program, visit www.vanguardjobs.com or our YouTube channel to watch program participant videos.
Exploring careers in Client Services – Personal Advisor Services
In this series, crew members in Client Services share their perspectives on career choices, teamwork, and how they contribute to Vanguard’s mission. Personal Advisor Services, Financial Advisor With an undergraduate degree in Political Science and an MBA, Tiana spent a number of years in the annuities department at another financial institution prior to coming to Vanguard. She brings great external perspective as well as five years of Vanguard experience in a wide variety of Retail Investor Group (RIG) roles. Tiana started her RIG career in a Processing role in RIG Operations, but quickly discovered that a career in Personal Advisor Services (PAS) was what she was targeting. She moved into the PAS Portfolio Implementation role, where she served as the liaison between clients and their advisors, then became a PAS Voyager Advisor, and is now a PAS Voyager Select Advisor. Tiana has her Series 6, 63, and 7 licenses, as well as her CFP® (Certified Financial Planner™) certification, and has recently enrolled in a program to pursue a Chartered Financial Analyst ® (CFA ®) designation. Personal Advisor Services, Operations Team Leader After graduating from Dickinson College, Darrell immediately began his career at Vanguard. He has held multiple roles at Vanguard in Personal Investor, Education Savings Group, and Advice. After some time, Darrell asked himself, “Do I want to continue specializing as a Financial Advisor, or is it time to stretch a new skillset?” With encouragement and support from both peers and leaders, Darrell decided to pursue leadership. Last December, he moved into his current role as an Operations Team Leader where he is able to use his caring mindset, energy, and “can-do” attitude to best support his crew. Darrell has his Series 7, 63, and 65 licenses, his CFP® (Certified Financial Planner™) certification, and is enrolled in a program to pursue a Chartered Financial Analyst ® (CFA ®) designation. What is it like working in Personal Advisor Services? Tiana: I’m all about client service and building relationships, both with my clients and my peers, and PAS allows me to do exactly that. The dynamic is great; I always say I have my home family, and PAS is my work family. It’s a comfortable environment where I can frequently collaborate with peers, and develop just from listening to their day-to-day conversations. Everyone is open and supportive, so much so that they all offered to help me as I pursued my CFP® certification, which I couldn’t have done without my leaders’ and peers’ guidance! My day-to-day routine revolves around my clients. I manage a book of clients, who I speak with at least twice a year. They can also schedule ad-hoc meetings with me. I’m empowered to manage my time however I see fit, putting blocks on my calendar for times that I’m not available for client calls, and clients can look at my calendar and select times that work for them. My peers and I try to do video calls with all of our clients to really connect with them personally. Darrell: No day is ever the same in my role, which is actually really nice. My time is split between projects, workstreams, and my crew. A typical day includes lots of time with my crew: walking the aisles, spot coaching, and working towards solutions when issues arise. Another big portion of my day is working on projects and workstreams to support the business. For example, I am on the Invest Workstream, which is looking at the life cycle of a dollar in Advice. No matter what my day holds, time with my crew is what I look forward to most. I enjoy watching them grow and develop, and coaching them to success. What are the top skills needed to be successful in your role? Tiana: Relationship Management, Time Management, and Detail Orientation — First and foremost, relationship management is crucial, not just with clients, but also with peers and leaders. You really have to love building relationships and connecting with people to be successful in this role. You also have to be great at managing your time -advisors are empowered to decide how we want our calls to flow throughout the day. Lastly, detail orientation is key: I’m dealing with people’s money, so quality is crucial! Darrell: Flexibility, Time Management, “Can-do” Attitude – In my role as an Operations Team Leader, I need to be able to flex from one task to the next. One minute I could be dealing with an elevated situation and the next minute I could be in a 1:1 with my crew member. Effective time management is crucial for success in this role. There are many competing priorities and being able to address each item, in a timely fashion, is paramount. Although it may seem simple, a “can-do” attitude goes a long way. There is a plethora of work that needs to be done each day to advance the work of the department, so one must have that resilient attitude. What is your favorite client memory? Tiana: There was an elder client who had been receiving investment advice from a family friend outside of Vanguard. Her former advisor over-allocated in a risky investment which resulted in the loss of a lot of money, and even worse, a distrust in advisors. She called Vanguard with the intention of trying to manage her own investments, and I saw an opportunity to turn a sad story into a great story. First, I had to learn a lot about her to really form a connection and earn the client’s trust. I explained to her that Vanguard is different – advisors here don’t receive commission or other such incentives, so everything I would do for her would truly be in her best interest. It was one of those moments where I really felt like I made a difference. Darrell: During my time as an advisor, I had a client who was asking multiple sharp and pointed questions during our phone call. We had multiple hour-long sessions and each session was filled with these questions. At the end of the last call, the client took a deep sigh and said, “I think I’m ready to do this”. I asked him to clarify what he meant and he proudly stated, “I think I’m ready to retire.” Additionally, I was able to put Vanguard’s investment methodology into practice in his portfolio. This is the type of call that allowed me to leave the office feeling truly fulfilled in my day’s work. What is one of the greatest lessons you have learned during your time at Vanguard? Tiana: At Vanguard, I’ve learned that my leaders are truly here to support me and help me develop my career. I love that Vanguard’s approach to feedback is developmental, so I’ve learned not to feel bad about it, but rather to learn from it and work on it. No matter where I go, as long as I’m working hard, my leader is committed to my development. Development conversations ultimately help me grow and achieve my long term goals. Darrell: One of the greatest lessons I’ve learned is to never be afraid to seek out help and additional perspectives. Crew here at Vanguard are quite receptive to offering their assistance and perspective. The more open you are and the more willing you are to ask for help, the better off you’ll be at the end of the day. This requires being coachable, which is critical to growth. How is your current role contributing to your overall development? Darrell: I think about my career with less of a destination in mind and more of a collection of experiences that will grow and develop my skillsets. What I am learning in my current role is how to manage and develop crew, how to drive business impact, how to demonstrate conceptual thinking skills, and how to develop deeper business acumen. How does your role as an advisor fit into your career goals? Tiana: In my past experiences, I’ve witnessed situations where the client was not put first. Since then, I’ve known that I not only wanted to be in Personal Advisor Services, but I wanted to do it at a company where the clients’ interests are truly at the core of everything we do. My ultimate goal is to be an Ultra High Net Worth (UHNW) Advisor, and the path to achieving that is pretty clear: advisors are split by segment, based on individual client need, so there are multiple opportunities for advancement. I’m confident that I’m building skills in my role now that will enable me to become an UHNW Advisor a few years down the road. How does your role contribute to Vanguard’s mission? Tiana: I’m a firm believer in Vanguard’s investment methodology and strongly value our client-first approach. What I do day-in and day-out is really all about the client. I help them in all of their most personal milestones: planning for retirement, creating a plan to save for college, helping them buy a home. Whatever their unique goals are, I’m serving their best interests by getting their money invested in a way that best fits their individual situation. Darrell: This has looked different as I’ve held different roles across Vanguard, but as a Team Leader, the best way I can fulfill Vanguard’s mission is to effectively manage and develop my crew so they can then deliver the best client experiences. Read the last blog in this series on Flagship Services and stay tuned for the next edition of our Client Services career conversations, featuring a new department each time.
Tiana P.
Darrell P.
If you’re seeking an environment where you can make a difference and develop professionally, check out our opportunities in Advice at www.vanguardjobs.com.
Pursuing Vanguard’s MBA Development Program
After working as an engineer for over 12 years, I decided to completely change careers and pursue my MBA full time. Why? I wanted to do work that I was good at, and passionate about. The thought of making a major career pivot was exciting, complex and risky at the same time. Where could I combine my aspirations for general management with my passion for helping people with their personal finances? Is it possible to transfer the skills that I acquired as a manufacturing engineer, technical sales engineer, and product manager? Or would I have to start over? How would I get up to speed quickly enough to make a meaningful contribution? I started by accepting an offer to enter into one of Vanguard’s Specialty Programs: the MBA Development Program. This program is for external talent who pursued a full-time MBA and are interested in a career in general management or investment management. Here’s why the program appealed to me: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. This sounds a lot like my passion for people and their success with personal finance! And this mission is not just hearsay, it is the foundation for the work that gets done each day. For example, when I worked in the Institutional division, we were focused on helping plan participants achieve retirement success. When I worked in Enterprise Finance, we were focused on monitoring how well we were performing as a company for the benefit of our clients (fund performance, cost, client loyalty and risk management). Now I am working in Client Experience…I’m sure you get the point. There were 15 other professionals who joined the MBA Development program with me. Their academic and professional accomplishments have enriched my experience. This group has been my “speed dial” for many things like: learning the Vanguard organization, understanding various aspects of the financial services industry, and just getting connected and acclimated to a new working and living environment. The additional benefit is that there are many cadres that have preceded us and they continue to make themselves available – sharing their insights to ensure that our experience is a success. All leadership development programs are not created equal. These are some distinct elements of Vanguard’s approach to MBA development: Program Qualifications – Vanguard looks for candidates with more pre-MBA work experience than most companies. This was very compelling for someone who worked for many years prior to business school. It was a signal to me that Vanguard values my past experience and provides opportunities for crew to transfer their skill sets. Rotational Assignments – There is a lot of work that goes into matching participants and assignments at Vanguard. We are placed in departments that align our strengths, experiences, interests and even development opportunities, thus creating meaningful and unique on-the-job training. Development (beyond the job) – The MBA Development program has created additional opportunities to enhance our professional development through: industry discussions, leader overviews, specialty workshops/trainings, assessments & feedback, MBA buddies, and corporate mentors. There are other benefits to working at Vanguard (people & culture), but this is supposed to be a blog and not a book. In four days, I will celebrate my one year anniversary at Vanguard. As I reflect back on the excitement, complexity, and risk, one thing’s for sure – I would make the same choice all over again. -Melanie M. Check out this video to learn more about the MBA Development Program!Vanguard’s Mission
A supportive squad
A quality offer
If you’re seeking an environment where you can make a difference and develop professionally, learn more about our MBA programs at www.vanguardjobs.com.
Exploring careers in Client Services – Flagship Services
In this series, crew members in Client Services share their perspectives on career choices, teamwork, and how they contribute to Vanguard’s mission. Sydney graduated from San Diego State University with a bachelor’s degree in finance and a minor in marketing. During her senior year, she attended the SDSU Career Fair and was inspired by the way that the Vanguard representative spoke about the firm as a best place to work. After graduation, Sydney began her career as a Client Relationship Specialist. After spending some time as a Brokerage Orders Associate, Sydney made the switch to Flagship, a department which serves high net worth investors. Eventually, she was promoted from an Assigned Representative to a Senior Assigned Representative. This role allows Sydney the opportunity to serve clients, directly impact the coaching and development of Flagship crew, and lead several initiatives throughout the department. After graduating from Ohio State University, Lindsey worked for a bank in Ohio for four years. During this time, she learned about Vanguard and its reputation for putting clients first. Lindsey has held multiple roles throughout her tenure here at Vanguard, including: Client Relationship Specialist, Select Services Investment Professional, Team Leader in Retail Services, and her current role, Client Service Specialist Team Leader in Flagship. In the past year, Lindsey chose to pursue a career in Flagship to expand her business acumen and to work directly with crew and clients. What’s it like working in Flagship? Sydney: My role consists of managing a book of clients and assisting fellow Flagship crew with their clients’ needs. In my role, I have two main responsibilities. One is to serve my clients and make sure they have a positive experience in every interaction. The second responsibility is to support my team. I coordinate staff meetings, conduct 1:1 meetings with my teammates, and take on additional leadership responsibilities. Because of this, the Senior Assigned Representative role is great for those like myself, who are exploring leadership as a career. Lindsey: Crew in Flagship pride themselves on their strong relationship management skills, which is a direct driver of the collaborative and inclusive environment that really sets Flagship apart. I spend 75-80% of my time with my crew members, whether that is coaching, developing, leading team meetings, or facilitating peer coaching sessions. During our time together, I help my crew to see the affect they have on their clients and the overall business. One of the primary initiatives I am driving focuses on shaping the way our crew deliver quality interactions and how this empowers our clients to leave us positive feedback from their time spent with our investment professionals. What are the top skills needed to be successful in your role? Sydney: Time Management, Client Relationship Management (CRM), and Investment Guidance. As a Senior Assigned Representative, I have the autonomy to determine how to allocate my time between my clients and the business. In addition, CRM skills, such as positioning, are crucial in my day-to-day work. My time as a Client Relationship Specialist helped prepare me for this role through developing these skills. Lindsey: Relationship Management, Time Management, Organization Skills, Conceptual Thinking, Leadership Impact, and Coaching & Developing. I need to balance the needs of crew, clients, the business, and my own professional development, but my crew always come first. Conceptual thinking is necessary to balance the many aspects of my work and to adequately prioritize what is most important. Lastly, the ability to take an ambiguous request and deliver strong results is crucial in my role. What is one of the greatest lessons you have learned during your time at Vanguard? Sydney: My answer is two-fold; first, it’s important to build trust in the small calls, such as executing a transaction flawlessly, so that when there’s an elevated situation, my client trusts that I can handle it. Second, it’s important to strategically choose where I want to have an impact. There are so many opportunities and, as crew members, we can decide what the best fit is for us. What is one piece of advice that you would give someone starting out their career? Lindsey: In my role, I work a lot with new hires, so I share this advice often – own your career. You are in the driver’s seat of everything that happens. There are going to be opportunities given to you and opportunities given to others, so you’ll need to be proactive. Part of this means even when you’re busy, make your own development a priority. Personally, I make sure to attend one professional development event a month and meet with two individuals a month in order to continuously develop. How does your current role fit into your career goals? Sydney: There is no “typical” career path for Senior Assigned Representatives. Some choose to take roles in Relationship Management, Project Management, Advice, or other areas. Personally, my long-term career goal is to be a leader. I see my current role as an opportunity to cultivate my coaching and development skills and work on broader business initiatives that drive crew success. How does your role contribute to Vanguard’s mission? Sydney: In Flagship, we embody the mission of Vanguard every single day. Through our conversations with clients, we get to know them at a very personal level. Because I have that relationship and personal connection with my clients, I’m able to better position what I think is best for them and their family. Lindsey: This is something that my team and I discuss often. Especially in Flagship, we manage a large portion of Vanguard’s overall assets and therefore, have a large influence on the financial health of RIG. Everything my teams does effects clients. Clients remember their interactions and so every conversation that my crew have is important in building client confidence in Vanguard and strengthening Vanguard’s reputation. Read the last blog in this series on Retail Services and stay tuned for the next edition of our Client Services career conversations, featuring a new department each time. 
Sydney F.
Flagship, Senior Assigned Representative
Lindsey K.
Flagship, Team Leader
If you’re seeking an environment where you can make a difference and develop professionally, check out our Client Services career opportunities at www.vanguardjobs.com.