“Why Asset Management?” — The Answer That Gets Offers

Hey 👋!

In case you missed it, I sent out a detailed breakdown last week on how best to answer the “Walk me through a DCF” interview question for those of you specifically interested in the investment banking division (these slides are taken from inside Finance Fast Track). If that’s of interest, check out the post here.

Today we’re turning our attention the the world of asset management. More specifically, by the end of this email you’ll know how to perfectly respond to the question: Why do you want to work in asset management?

If you’re applying for an asset management internship, grad scheme or spring week… this question is guaranteed to come up so it’s worth preparing for it.

Truth is, most candidates don’t have a strong or structured answer.

Not because they’re not smart. Not because they don’t care.

But because they treat this like a throwaway motivation question when in reality it’s one of the most important moments in the entire interview as it sets the tone and perception of whether you know anything about the role and industry, or not.

After all, asset management isn’t for everyone. It takes a specific type of interest, skillset, mindset, and career goal to want build a career in this area of finance.

Three things interviewers expect of you that you should be aware of when going into asset management interviews:

1. Do you get what the job actually involves?

2. Have you thought deeply about this path?

3. Are you genuinely curious about investing and clients?

The 3 Things Your Answer Must Prove

Every strong answer to “Why Asset Management?” should hit three points:

1. You understand what asset management actually is

And no, “investing other people’s money” isn’t a good enough answer.

Asset management is about managing institutional or retail client capital, building portfolios that align with client goals, risk tolerances, and mandates, and doing so across public and private markets.

You’re not just randomly picking stocks or making markets for buyers and sellers like you do on the trading floor in sales and trading/global markets. You’re managing billions of £$€’s with discipline, structure, and process in order to meet some long term investment goal/objective. As a result of managing the money, you take a small percentage as a management fee.

2. You’ve developed a genuine interest in the role

First, you need to figure out what the different roles in asset management entail.

Do you want to go down the investing route and become a portfolio manager? Or do you want to go down the client relationship management route and become a salesperson?

Distinguishing between the roles and knowing where your interests and skills fit best will set you apart. It’s what got me my offer at Goldman Sachs Asset Management (here’s my CV template) back in the day.

So figure out sooner rather than later whether you’re interested in investing roles or sales roles.

Once you know which area within asset management you’re interested in, you need to figure out why the division/industry is fascinating to you specifically.

It’s hard to do or know this from the outset and can take time. But completing my 30-Day Asset Management Challenge will save you years of effort and give you some relevant experience that you can put on your CV.

However, the more you read into the industry, clients, roles, commercial implications, global impacts, etc. the more likely you are to find something that resonates with your own interests.

It could mean you:

• Follow fund manager letters and earnings calls

• Enjoy prospecting and building client relationships

• Track a mock portfolio you’ve been managing

• Got into investing during uni after reading about inflation, monetary policy, or pension deficits, or having joined an investment or finance society

• Realised how important portfolio theory is for retirement savings

• Have a specific reason for finding this industry interesting and are following your curiosity to learn more

It’s not about sounding “impressive.” It’s about sounding real. The more genuine you sound in an interview, the more likeable you become. The more likeable you are to the person sitting opposite you, the more likely you’ll get an offer.

But in order to reach this point, the cornerstone or pillar you need to master is specific knowledge. Once you have asset management specific knowledge, it’ll be hard not to stand out in a positive way.

3. You have a career-aligned reason for pursuing AM

Asset management isn’t investment banking. It’s not private equity. It’s not sales and trading.

The best answers show that you’re choosing this route on purpose. This is what I showed when I interviewed at Goldmans. I told them I carried out research and completed various insights and experience across other divisions, but it was AM that stood out to me most and was most suited to my own interests and skills.

Whether you’re drawn to long-term investing, client relationships, the intellectual challenge, or impact — you need to show why this over everything else. Make it personal and you’re more than halfway there.

My Framework: The 3-Layered Answer

Here’s a simple structure I give Finance Fast Track students when they prep for this:

1. Exposure: Where did your interest come from? What or who inspired you? (Story, project, article, internship)

2. Depth: How have you explored that interest? What did you do to learn more? How were you proactive? (Portfolio, reading, research, investing, experience)

3. Fit: Why is asset management a natural next step for you? Where do you see yourself in the next 3, 5 and 10 years? (Your skills, interests, long-term goals)

Let’s break that down.

1. Exposure – “Where did this start?”

Interviewers want to know what sparked the curiosity.

Here’s what bad answers sound like:

Here’s what strong answers sound like:

You don’t need a crazy story. You just need a real one.

2. Depth – “How have you explored this interest?”

This is where most candidates go wrong.

They say they’re “interested in investing” but can’t back it up and also forget that investing is an extremely broad term.

Here’s how to stand out:

• Track a virtual portfolio (or use eToro, Investopedia, Google Sheets)

• Read fund manager letters (e.g. Howard Marks, Seth Klarman, BlackRock insights)

• Follow macro news and link it to portfolio shifts

• Learn about asset classes and start following and investing in one or two in particular

• Watch AM-related interviews (e.g. Fidelity, Baillie Gifford, Schroders)

• Build basic models for listed companies

• Write an investment thesis (even just for yourself) with a buy/hold/sell recommendation

💡 Pro tip: Drop in specific names. The more specific, the better.

Once you get to this point you should be well ahead of most candidates.

3. Fit – “Why AM for you, now?”

This is where you tie it all together.

You need to show that:

1. You understand what the job is

2. You know the types of clients and products involved

3. Your interests + skills align with the role

4. This isn’t a ‘backup’ to banking — it’s the main goal

Here’s an example closing:

That answer shows: ✅ maturity ✅ clarity ✅ intention ✅ long term thinking

Real Example: A Strong Answer in Full

Here’s a sample 60-second response using the Exposure → Depth → Fit framework:

That’s an offer-worthy answer. It’s personal, specific, and commercially aware.

Advanced Touches (For Top Candidates)

If you really want to impress, consider mentioning:

1. Types of AM strategies you’re interested in (e.g. fundamental equity, quant, fixed income, ESG, multi-asset). Mentioning firm specific funds/portfolios will get you even more brownie points.

2. The role of AM in society (capital allocation, pension funding, economic stability).

3. Recent industry trends (passive vs active, ESG, fee compression, consolidation, retail vs institutional flows).

4. Client focus — AM is about serving clients, not just making bets.

You might say:

That’s the kind of line that makes interviewers nod.

Mistakes to Avoid

Let’s quickly cover what NOT to say:

“I like making money”

Yes, we all do. But AM is not trading crypto in your bedroom.

“I enjoy working in fast-paced environments”

That’s an IB line. AM is about patience and process.

“I’m interested in finance generally”

Too broad. This makes it sound like AM is a backup.

No client awareness

If you never mention clients, it shows you don’t understand the job. Clients are at the heart of AM.

Final Takeaway

This question is a gift.

It’s your chance to:

1. Prove you’ve done the work

2. Show that your interest is genuine

3. Position yourself as someone who belongs in the industry

Don’t waste it. You want to make the interviewer feel like they’re making a mistake by not giving you the offer. And you do this by hours and hours of preparation and practice.

1. Use the Exposure → Depth → Fit framework.

2. Back it up with specifics. The more, the better.

3. And always finish strong — showing you’re in this for the long game.

Want to Fast-Track Your Success?

Whenever you’re ready here’s how I can help you go further, faster:

1. 📘 Buy My Book

Breaking Into Banking is the ultimate guide to landing spring weeks, internships, and grad schemes.

It includes interview prep, division breakdowns, networking scripts, CV/cover letter tips, and more.

Buy now and get all these Career Guides (worth £180) — FREE.
Just email your order confirmation to [email protected].

👉 Pre-order here

2. 💼 Join Finance Fast Track

I’ve helped thousands land offers at companies like GS, JPM, MS, BlackRock, and more. Now I’m teaching you how to do it in a simple and structured format.

You’ll get:

1. 4 group coaching calls every week with me

2. 200+ materials, courses, resources, templates, etc.

3. 7-day money-back guarantee if you’re unhappy

4. 120-day Guaranteed Offer Promise — land your first offer or get your money back

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Let’s get you into asset management — properly.

Afzal 👊🏽