Internship Experience: Patrick Penfield Jr., Wealth Management Intern at UBS

In this “Internship Experience” blog post series, we will be featuring the profile and thoughts of our students from Syracuse University’s Martin J. Whitman School of Management as they return from summer internships.

Name: Patrick Penfield Jr.
Graduation Year: 2021
Major: Finance
Hometown: Baldwinsville, NY
Intern Company/Title: UBS – Wealth Management Intern

Describe your position and some of your daily tasks? 
Originally, I was supposed to be working in New York City this summer, but like many internships, it got switched to a virtual role. As a wealth management intern, I played a support role for my financial advisor team by conducting research in stock, ETFs and other investments. I researched different sectors and made recommendations to my superiors on what I thought had the potential to grow and become a profitable investment. 

How did you land your internship?
Right after I applied for my internship, I emailed the hiring manager and told him why I could add value to his team and why I stand out from my competition. Knowing the company you’re applying to inside and out during interviews shows you care and makes a tremendous difference. 

What did you learn from your internship experience?
The biggest thing I learned was what to look for and what not to look for when researching investments, as well as how to properly analyze a company that could potentially go into the portfolios of clients was a great learning experience. I also learned what it is like working in a fast-paced global bank. These are all skills I’ll carry with me for the rest of my life. 

Has your experience changed your plans or career choice when you leave college?
My experience has solidified my desire to work in wealth management. Narrowing down what you like and dislike in a particular industry is difficult, but I’m grateful to have found something I really enjoy. 

How will your internship experience help you after graduation?
This internship has given me so many tools that I will use in my future career. It has prepared me for what I want to do for the rest of my life and I’m extremely grateful to have had this opportunity. 

How has the Whitman School prepared you for your internship?
The number one thing Whitman has prepared me for is networking. In a field like wealth management, networking is everything. From day one, Whitman pushes networking through the Goodman IMPRESS program and prepares you for how to act in the workplace. You will expand your network and meet new people. 

What did you enjoy most about your experience?
I enjoyed the opportunity to get a high level of exposure to a successful advisory team, to learn more about an energetic field and all of the resources a multinational corporation has to offer. From being able to ask a question to a banker in Hong Kong to getting research from an analyst in London, every minute of it I learned something new. 

Do you have any advice to students who are looking for an internship?
You have to stand out, especially in a field as competitive as finance. Simply sending in your resume and hoping for the best does not work most of the time. Whitman has an extensive alumni network full of people willing to help you, use them as a resource; networking with them is the most valuable thing you can do when looking for an internship. An employer wants to hire people that are different and can add value, if you can prove that, you can land any internship.

Kimmy Kimball