Managing the wealth of the world's richest clientele is an exciting, prestigious, high stakes business.  We sat down with Tony Abbiati, CEO of SCS Financial, an ultra high net worth private wealth management firm to understand the business model of RIAs (Registered Investment Advisors) vs. banks and broker dealers, the demands and challenges of these clients, the path to breaking into the business and achieving success, and the crazy things you may have to do in the name of client service!  

Tony co-founded SCS Financial Services in 2002.  He has over 22 years of experience in the investment business.  Prior to SCS, he was a Vice President in the Private Wealth Management Group of Goldman Sachs. Tony began his career at Biogen, Inc. as a process engineer. Tony is actively involved in Year Up, a Boston based non-profit focused on empowering urban young adults. Tony earned a BA in Biochemistry from Bowdoin College and an MBA from Duke University’s Fuqua School of Business. Follow us on Instagram and Tik Tok at @thewallstreetskinny

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51. Private Wealth Management "PWM" 101 (for the Ultra Rich) Feat. Tony Abbiati

This podcast is a smart and entertaining peek into the world of investment banking, sales &amp; trading, private equity, hedge funds and more. Hosted by two lifelong friends with a passion for teaching, and over two decades of experience on Wall Street.&nbsp; Discover the basics, ranging from “what is investment banking?” to “what moves markets?".&nbsp; Learn about different roles and exit opportunities, and get tips on how to land the job.&nbsp; Our mission is to make the world of Wall Street accessible to everyone, while keeping things relatable and fun.

Whether your goal is to work on Wall Street, or if you have NO idea what any of those things are and just want to learn some basics, this podcast is for you.

Education

Training

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Courses

Our long awaited Bankers vs. Lawyers podcast episode! Wondering about the differences and similarities between traditionally "good" jobs like doctor, banker, and lawyer? Or maybe how to transition from a career in law to one in high finance? We are going to pull back the curtain and explore the business, lifestyle, and culture of "big law", while debunking the myths and misconceptions you may have from watching popular shows like "Suits", "Law and Order", and "The Good Wife". 

Today's episode specifically covers Corporate Law and its intersection with high finance. Our incredible guests are two of NYC's most prominent attorneys: Jake Kling of Wachtell Lipton, who specializes in Mergers & Acquisitions law, and Roshni Cariello of Davis Polk, who specializes in Capital Markets law.

We get into the path to becoming an attorney, the process of applying to law school, how important "prestige" of your law school is to landing a job, compensation, hours, culture, and much much more. 

Bios:
Jake Kling is a partner in Wachtell Lipton’s Corporate Department. Jake’s practice primarily focuses on mergers, acquisitions and dispositions, securities law matters, and advising companies and boards of directors on takeover defense, shareholder activism and general corporate governance matters. He has advised a broad range of public and private clients across multiple industries, including banking, financial services, healthcare and pharmaceutical, life sciences, technology, media and telecom, sports, industrial, retail, private equity and real estate.

Jake received an A.B. magna cum laude in mathematical economics from Brown University, and a J.D. from Yale Law School, where he served as Projects Editor of the Yale Law Journal.  Jake also served as a law clerk to the Honorable Dennis Jacobs, then Chief Judge of the United States Court of Appeals for the Second Circuit.

In 2024, Jake was named to the Forbes inaugural list of America’s Top 200 Lawyers across all practice areas nationwide,  one of seven M&A; lawyers included on the list.  In 2023, The American Lawyer named Jake the “Young Lawyer of the Year—Corporate”, selecting him as the top corporate lawyer in the country under the age of 40.  Jake was also named a “Dealmaker of the Year” by the New York Law Journal, was one of five M&A; lawyers chosen as a Law360 MVP, was one of four M&A; lawyers selected for Bloomberg Law’s “They’ve Got Next: The 40 Under 40” awards, and was named one of the 500 Leading Dealmakers in America by Lawdragon. BTI Consulting Group selected Jake as a BTI Client Service All-Star for his commitment to exceptional client service.  

Roshni Banker Cariello is a partner at Davis Polk advising corporate and financial institution clients on capital markets transactions, including initial public offerings and other equity offerings, investment-grade, high-yield and convertible debt financings, private placements and liability management. Clients also turn to her for advice on general corporate, governance and securities law matters. Roshni’s experience spans industries including consumer, retail, technology, renewables and industrials.

In 2023, Law360 named Roshni a “Rising Star” in capital markets, and she is recognized by Chambers USA for her work with SPACs. 
 
Roshni graduated cum laude with a B.A. in Government from Dartmouth College and a JD from Columbia Law School where she was a Harlan Fiske Stone Scholar and a Notes Editor for Columbia Business Law Review.

Follow us on Instagram and Tik Tok at @thewallstreetskinny

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75. Bankers vs. Lawyers

The Skinny on ECB Cutting Rates, GameStop Continued and Being "Too Thin" Follow us on Instagram and Tik Tok at @thewallstreetskinny

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74. The Skinny on ECB Cutting Rates, GameStop Continued and Being “Too Thin”

In the second of our three SALT iConnections interview series, we sat down with Ty Wallach, a living legend in the credit investing world.  

Ty was a partner and portfolio manager at Oak Hill and Paulson, two of the most successful and famous names in investing over the past three decades, and is currently the CIO of Credit at Atlas Merchant Capital.

We spoke with Ty about his role as an investor in both the debt and equity during the Caesars Palace Coup (check out episodes 39, 40 and 41 for a deep dive into one of the most infamous deals of all time!), how Paulson made billions investing during the Global Financial Crisis of 2008, relative value investing within the capital structure of a company, the Orwellian relationship between the markets and economic data in the current environment, and about the optimal paths to pursuing a career as a credit investor, specifically with regard to the merits of the CFA for advancement along that path.  

A must listen for anyone interested in public markets or private credit investing!





 
 
 Follow us on Instagram and Tik Tok at @thewallstreetskinny

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73. What It Takes to Be a Credit Investor Feat. Ty Wallach

The Skinny On T+1 Settlement Changes, Citi's Fat Finger Trade, Hedge Fund fundraising woes, and Private Credit!


 Follow us on Instagram and Tik Tok at @thewallstreetskinny

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72. The Skinny On T+1 Settlement Change, Citi's Fat Finger Trade, Hedge Fund Fund Raising, and Private Credit

Live from SALT iConnections in NYC, we are joined by Anthony Scaramucci, a financial, political, and pop culture icon here in America.  Anthony worked at Goldman Sachs, is the founder of SkyBridge Capital (a global alternatives investment firm), and is the founder of the SALT iConnections cap intro conference...but is possibly most infamous for his 11 day stint as the White House Communications Director during the Trump administration. Particularly timely as many gear up for their summer internships, Anthony shares with us his lessons in resilience, in learning to chase personal growth vs prestige, and in how to graciously take a joke.

Anthony's latest book, "From Wall Street to the White House and Back," is a must-read and is available here:  https://www.amazon.com/gp/aw/d/1637584636/ref=tmm_hrd_swatch_0?ie=UTF8&qid;=&sr;=

Follow us on Instagram and Tik Tok at @thewallstreetskinny

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51. Private Wealth Management "PWM" 101 (for the Ultra Rich) Feat. Tony Abbiati

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