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Wells Fargo Portfolio Analysis

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As I make the decision to re-enter college and purse a degree in business, I am made to reflect upon my past business experiences and connect them to my future career aspirations. Pursing a Bachelor’s of Science in Finance links the seven years of experience I have gained from working my way up at Wells Fargo, beginning as a teller and ending my tenure as a branch manager. From Wells Fargo, I quickly transitioned to managing a team of Client Service Representatives at Capital Group. This transition is what lead me to restart my journey towards higher education in order to progress in my career and ultimately gain a position as a Portfolio Analyst. While working for Wells Fargo, accounting was integral to assisting clients manage their portfolios. …show more content…

I worked at a bank during the market decline of 2008. During this time it was vital to understand the role the FDIC played in banking. I was originally employed by Wachovia, a financial institution at the cusp of being taken over by the FDIC as we saw our stock prices plummet to less than a dollar per share, but was fortunate to have Wells Fargo buy the bank in order to keep our doors open. At Wells Fargo our goal was to service clients in order to ensure their financial success. As a personal banker I would work with clients and their budgets, financial goal setting, and how to use credit for the present and the future. In my capacity as Branch Manager I was responsible for compliance review, trust document review, identifying and referring clients to financial advisors, and ensuring all decisions made regarding client’s accounts were made with a risk analysis at the forefront. Looking on to my future with Capital Group, finance is the basis of our business. Portfolio Managers and Analysts are realists that stay true to the funds objective and don’t confuse safety for security in the market while planning for the ups and downs. They combine all four investment principles with high convictions for their investment ideas and their expertise in specific sectors to ensure long term results. Finance will continue to be vital as my future …show more content…

Information technology is necessary for the development and execution of those programs. In my time at Wells Fargo, we saw our IT analysts work to bring advancements and updates to the programs used in order to streamline how we delivered services to our clients. Although I was not directly involved in the development process, being the end user it was important to provide feedback as updates were implemented. At Capital Group we are going through a complete overhaul of our servicing desktop. Currently we work through a GUI that transmits information to and from DST Systems. DST is an industry leader in information technology and business operation outsourcing to the financial sector. Within Capital our IT department is working on a future servicing desktop that will transition from a GUI over DST software into our stand-alone product that houses all information necessary to complete necessary services. With neither my past experience nor my future goals I work to directly create or develop the software programs used to preform vital functions of my job; however, being the end user it is important to understand all the possibilities of the software programs being

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In Addition to maldistribution stood the credit structure of the economy, some farmers were in deep land mortgage debt, so they lowered their crop prices in order to regain credit, and because the farmers were no longer accountable for what they owed banks. Across the nation the banking system found themselves in constant trouble. In America both small and large bankers were concerned for their survival, so they began investing recklessly in stock markets and granting unwise loans. These unconscious decisions would lead a large consequence, such as families losing their life savings and their deposits became uninsured. “ More than 9,000 American banks either went bankrupt or closed their doors to avoid bankruptcy between 1930 and 1933.”Although

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The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. The FDIC was a provision of the Glass-Steagall Act. During the nine year period from 1921-1929 more than 600 banks failed each year. The failed banks were small banks operating in the rural suburban areas and held the deposits of mostly farmers and blue collar folks. When banks fold and continue to do so, people will start to worry about their money in any bank.

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The FDIC protected the deposits of individuals at banks by insuring up to 2,500 dollars of their deposit. This policy, along with other efforts to mend the faults in the banking system, were established in the banks across the country. By doing this, bank closures that had become extraordinarily prevalent in the early 1930’s were almost nonexistent in 1934 and beyond; many financial institutions during the Roaring 20’s invested money in unstable stocks in hopes of making significant gains, and this played a major role in the bank failures following the stock market crash. By restricting the banks and requiring them to insure the deposits of American citizens, the FDIC was successful in making the banking systems of America safer and more

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According to FDIC.gov “An average of more than 600 banks per year failed between 1921 and 1929”. This led to millions of people losing the money they put into bank accounts, for some it was their entire life’s saving. It was this lack of security in deposits that led to the establishment of the FDIC (Federal Deposit Insurance Corporation). This program let the public have security when investing money in the banks by having bank deposits insured, not only was the FDIC successful in the 1930’s but it is also hugely successful today, almost every bank in America is FDIC insured.

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In 2008, economically, we were on our way to another massive depression. It took two years and the creation of new policies to get us out of this. If it weren’t for the Great Depression, people might not be as careful as they are with money and there would not be any New Deal programs that still have an impact today. The FDIC is very important nowadays because it insures your bank account. If there were to be another heroic depression, you would not lose all of your money that you have in the bank

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FDR came up with a plan to put faith back into the banking system as well as insure the customer’s money was going to be their when they needed it. This program was called the FDIC “President Roosevelt signs this act on June 16, 1933, to raise the confidence of the U.S. public in the banking system by alleviating the disruptions caused by bank failures and bank runs. From 1929 to 1933, bank failures resulted in losses to depositors of about $1.3 billion. Before the FDIC was in operation, large-scale cash demands of fearful depositors often struck the fatal blow to banks that might otherwise have survived. Since the FDIC went into operation, bank runs no longer constitute a threat to the banking industry.”

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From the moment I set foot on campus, I have been captivated by two goals: becoming a student-athlete with the privilege of representing the University of Texas, and joining the Canfield Business Honors Program. For anyone that knows me, those goals make perfect sense. I've been passionate about business and basketball for as long as I can remember. My resume reflects this fact – the last five years of my life have been dedicated to building businesses, running basketball camps, and learning from mentors in both industries. The intersection of my passion in these two areas have guided my career aspirations towards investment banking, with the goal of eventually working in the field of sports private equity.

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Over the last few years, risk management has become an area of development in financial institutions such as Bank America, and Wells Fargo. Also being a part of Wachovia Bank looking back at their demines I am thinking there risk management would be handling different if they were allowed to turn back the hands of time. The area of financial services has been a business sector related to conditions of uncertainty. The financial sector is the most volatile in the financial crisis of 2008, or about 8 years ago. Activities within the financial sector are exposed to a large number of risks.

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Finance is a subject that is a relevant to everyone in the world. Nobody is immune to the effects of finance. It doesn’t matter if you are pursuing a financial career or not. Everyone from garbage truck drivers to prominent CEO’s of fortune 500 companies worry at least once in their lives about their financial situation. Amidst the

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I was immersed in a disappointment, and feelings of helplessness throughout the freshman year. Fortunately, the second degree option rekindled my extinct passion. Without hesitation, I chose Business Administration as my second major, which was the only option offered by Economic and Management College. Accounting Principles was the first subject that enabled me to gain insights into Accounting, the deeper I got myself involved in this subject, the more I found it fascinating. Also, I have taken inspiration from my internship experience.

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