Investment Banking Discussions (Part 2) – The Core Component of Sales
January 19, 2013 4 Comments
Sales are another core component of the Investment Banking spectrum.
Sales people generate revenue through commissions on trades made through their firms.
Salespeople take the form of:
- Retail Broker
- Institutional Salesperson
- Private Client Service (PCS) Representative
This article is the second of five editorials in a series entitled “Investment Banking Discussions” that I will compose in an effort to identify, explain, and/or discuss aspects of the subject of Investment Banking.
Of course, I would encourage all questions, insights, thoughts, and commentary as appropriate.
The purpose and goal of this editorial is to discuss and explain:
- Retail Brokers
- Institutional Salespeople
- Private Client Service (PCS) Representatives
- Retail Brokers develop relationships with individual investors and sell stocks and stock advice to the average individual.
- Institutional Salespeople develop business relationships with large institutional investors.
- They also manage large groups of assets – such as pension funds or mutual funds.
Private Client Service (PCS) Representatives
- Private Client Service (PCS) Representatives lie between Retail Brokers and Institutional Salespeople. PCS Representatives provide brokerage and money management services for extremely wealthy individuals.