Managing Client Relationships as an Investment Banker, Lawyer or Consultant

Goldman Sachs managing director and Law School adjunct professor Jim Donovan shares his insights on the skills necessary to manage and cultivate client relationships. Donovan is responsible for advising many of the largest corporate and individual clients of Goldman Sachs. (University of Virginia School of Law, Nov. 6, 2015)

[@CharlieGeorge_]

This guy never has a problem getting into Dorsia

[@NebrasAlKhani]

LMAOOOOOOOO

[@sergiofdez4]

bruhh HAHAHAHAHAHAAHHA

[@brian4019]

As usual, no one noticed he said "murders" instead of "mergers" @ 8:20

[@ghdshds1899]

@@brian4019 he said mergers i think your mind is somewhere else bud

[@brian4019]

@@ghdshds1899 whooosh

[@Avengerie]

Impressive. Very nice. Let's hear Paul Allen's client relationship management strategy.

[@riley09]

lol :))))

[@nickratti5796]

This won the internet hahaha

[@lucamuratori7523]

Hahahahah

[@truongthanhhuan]

😂

[@brian4019]

As usual, no one even noticed he said "murders" instead of "mergers" 8:20

[@goodlife1581]

Did this guy say the word “um” once in 17 minutes? Impressive presentation

[@evans8488]

GoodLife 15 16:01

[@walkersutton]

I found another 'um' at 10:19

[@user-ym9sx6jt8m]

@@walkersutton doesn't qualify

[@GamingPotatoHD]

5:27 . I'm not trying to be a dick here, Jim Donovan is highly qualified, more than I will ever be ;).

[@tonyzhi-weitang9347]

Indeed, he actually uses "and" a lot which is probably his equivalent of "um".

[@sayansarkar7759]

Chemical Engineering from MIT; MBA from MIT Sloan; JD from Harvard Law. This dude is 🔥

[@mango-strawberry]

he could have reached this level with just his bachelors

[@Sarahsmydog]

@@mango-strawberrylmao the fact you think this let’s me know you have no idea how competitive and difficult investment banking at the big leagues really is. To make MD at GS and be considered a rain maker is literally the .01%

[@nidulamaknidulamak4214]

This guy game straight out of the matrix.

[@khary30]

HAHA.... MR SMITH

[@AlexIsUber]

He is the architect

[@tonyfondacaro1980]

Mister….. D O N O V A N.

[@abrahamcampos3886]

Is this real life Harvey specter ?

[@SharanGarlapati-yh4bt]

@@abrahamcampos3886 Maybe.

[@sevillachea]

Building Skills 1. Find somebody who's really good at what you want to achieve, and learn from them. 2. Put ego aside when you are shadowing them. 3. Skills are not innate, they are learnt. Client Management 1. Take the opportunity to build a strategic client relationship beyond contracted work scope. 2. Be opportunistic, and aim to be a go-to for clients. 3. Get them talking. 4. What clients value more than analysis is solutions and creative workarounds. 5. Uphold credibility and put the client first. 6. Be realistic about work-life balance - it is a competitive industry. 7. Positivity is contagious. Be upbeat. 8. Learn the jargon. Take classes in business and law to improve competency.

[@lzoshan]

Check clients regularly, be responsive.

[@lzoshan]

Be upbeat, be happy face, be contagious. Don’t tell clients negative things. Take classes in law and business

[@lzoshan]

Demystify the jargon and concepts

[@lzoshan]

Be familiar with the language

[@goosebumpsfm]

you're a lifesaver, thanks for putting these together. perfect summary

[@karimkhalil8509]

What an eloquent speaker.

[@aeffebb]

Whenever I wanna freshen up my presentation skills, I always end up watching this video.

[@ayetreyyy]

DUDE, same! I watch this multiple times a month.

[@EvelynGrace-gs3ze]

The problem we have is because Most people always taught that " you only need a good job to become rich. These billionaires are operating on a whole other playbook that many don't even know exists.

[@SaraEsther242]

Money invested is far better than money saved, when you invest it gives you the opportunity to increase your financial worth.

[@RogerTerry01]

It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.

[@JordanJesse857]

The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.

[@ElijahWayne5]

Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.

[@PatriciaMary11]

Trading under the guidance of an expert is the best strategy for beginners.

[@tytipton6346]

Love how he says “work-life balance” like he knows he doesn’t mean it. Esp since he’s been there a while. Had a friend that worked at GS right out of college and she made no pretense about any balance.

[@tytipton6346]

To clarify: I went to high school and college with this person. We lived on the same street. She was successful at GS bc she is wired differently. She was 3rd in our class without breaking a sweat in a serious environment. In college, she breezed through at the top (it wasn’t easy. Just looked that way). All this to say... she could handle any workload thrown at her and *important part* her hobbies were things like running and other health oriented stuff. Just confirming that some people have “work capacity” and internal discipline. They sleep hard and play hard when they’re not at work

[@sanghoonlee5171]

Yeah... when you are playing big games, the games are your work and your life. That's just how it is. Nobody will trust you with a task that can make or lose millions if you aren't willing to pick up the phone at 2AM.

[@_ashmason007]

@thedudemsk and still them and the ones who do sacrifice the blood and tears end up in the same place after death. A pile of bone and dust. Except that the so called lazy ones spent their time enjoying life, and others never had any time to.

[@SpartanAesthetic]

@thedudemsk It's pretty clear you're a high school kid or someone who has never worked if you think it's between these two options. There's a massive spectrum of people with happy upper-middle class lives making in the mid-six figures and working 40-50hr weeks. See: big tech, F500 corporate strategy, etc.

[@victor-pratt]

I worked in big law and the reality is, they are just lying about the extent of the damage and smiling to get you in. Once you realize, it's too late to go without damaging your career.

[@kaiwalyamuley2958]

How nice it is to get these priceless, valuable pieces of advice for free.

[@sweetbrown3476]

How are you doing today and how is the weather condition over there?

[@tito-talk-show7019]

This is an amazing speech. Add value - listen - strategize - be honest - outwork and always be working for one purpose: when your client has a problem, you need to be the way for solution building. This will make you money. It’s good for your client and your future.

[@ExxonMobilCompany]

After a horrendous 2022, shell-stunned financial backers have misfortunes to recover and a lot to consider, as an expansion report and a pile of different information did close to nothing to change assumptions that the Central bank would probably keep climbing interest rates regardless of whether the economy dials back, And that implies more red ink for portfolios for the principal quarter of year 2023. How might I benefit from the ongoing unstable market, I'm currently at a junction choosing if to exchange my $250k security/stock portfolio.

[@marcelrobert9569]

In reality, I've been having regular conversations with financial examiners ever since the coronavirus. Buying moving stocks is now quite simple; the key is knowing when to purchase and sell. My attorney issues the section and leave orders for my portfolio. accumulated from an initial stagnant savings of $150,000 more than $550,000.

[@marcelrobert9569]

@@markgeorge8206 My consultant is Julie Anne Hoover I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven't regretted doing so.

[@robertlucas8288]

@@marcelrobert9569 Insightful... I curiously looked up her name on the internet and I found her site, thanks for sharing

[@charlotteflair1043]

@@marcelrobert9569 This recommendation comes just in time because I'm literally grasping for straws right now! I looked her up on the internet and made plans to call her.

[@panama_juan]

These bots recommending financial advisors have gotten pretty good at sounding human. Do not fall for these scams people, I've seen them on every youtube video related to business/finance.

[@greer15]

The secret sauce to being a successful management consultant or IB, is this: Common Sense, Logic, Integrity, and ABL--always be learning.

[@youtert]

Coffee's for learners only.

[@MrGavinore]

Hardwork

[@ocular4925]

ABC* Always Be Closing

[@huytran9823]

you forgot the ass-kissing part.

[@ispudy]

@@ocular4925 Telling is not selling

[@khadijasajid457]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly._

[@tahirisaid2693]

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor??

[@khadijasajid457]

Finding financial advisors like *JENNY PAMOGAS CANAYA* who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@MahboobHyderabadwala2]

Tips from the Talk 1) Join & Learn from Experienced Practitioners 2) Become Strategic Adviser for Client on Anything & Everything 3) Ask open ended questions - and listen with empathy 4) Be Creative - find solutions even in a dead end - atleast show you are trying 5) Put Client First - give beneficial advice to clients even if you lose Fees for such resulting Client action 6) Tell the Client You are always there 7) Be Upbeat - Always Show positivity before the clients 8) Learn the Business world of the client

[@darkheart1721]

This guy is so articulate! Really, I never catch him saying "umm".

[@zhengye8440]

Advice from Goldman Sachs MD 1. Find a model 2. Strategic advisors 3. Ask open-ended question 4. Be creative 5. Put the client first -> advise company even it is not in your interest, work really hard and convince them you are there for all the time 6. Be upbeat- don’t let the clients know that you are not happy

[@hollydikun3088]

I'd love to hear this guy's opinion of Huey Lewis And The News

[@mnkr32]

This guy is giving out experiences of a lifetime. The students are already ahead in their life. USA at its best.

[@werbinich7908]

what does this have to do with USA? lol

[@skat3r430]

@@werbinich7908 this lecture is in the Usa

[@MrMRGamer1010]

@@werbinich7908 Other nations are shitholes compared to the highest orgs in the US

[@Bonky-wonky]

@@skat3r430 like there are no good law schools in Europe..

[@justicerie]

You sir just won the 'murica fuck yeah award of the day bravo

[@nicholasmorello6370]

Is it wierd that I watch this as a 33 year old warehouse worker?

[@LifelsGreat]

Not at all… it’s great.

[@Mogul_philosopher]

Not at all

[@antiv]

This can apply to many other fields of work. Smart dude.

[@user-ql3ws5uz1d]

Students who are overwhelmed by talks like these need to realize that you are sacrificing your time with friends and family for a job like investment banking. You need to be the one make the choice to see if it's worth it.

[@SV42165]

@T What if you have no friends and you hate your family?

[@htchamber2776]

@@SV42165 exactly stop listening to these fake woke ppl

[@TkevTV]

@@SV42165 then you will flourish

[@jasonzhang7725]

your just salty u didnt get in investment banking

[@skhan1992]

@@jasonzhang7725 Not everyone's a Type A, materialism driven psycho

[@Deezhan]

Rumors say that during 90's he met Jordan Belfort and sold him a pen, even though Jordan already had two pens in his shirt pocket.

[@kafel66]

True! I was there. :)

[@jamiemcgrath1292]

These videos are golden. Thank you. Networking seems like a simple common sense, but it’s really hard to be actually good at it.

[@JonnyBarrett]

Best Quote "The client asked me about Huey Lewis & the News, I think their undisputed masterpiece is "Hip To Be Square". A song so catchy, most people probably don't listen to the lyrics. But they should, because it's not just about the pleasures of conformity and the importance of trends. It's also a personal statement about the band itself. Hey, Paul!"

[@heyyou274]

Nice. This fits perfectly 😆

[@siddharthnandi8567]

how many here are not consultants and just here for some sweet knowledge

[@common9523]

this man is fire

[@nnamdi1292]

This video makes me want to go back to college. I think I just didn't have the right mindset when I went about it the first time and now after watching this and being older I'm really able to see how beneficial information and knowledge like this is.

[@cameronvallejo4157]

I know the feeling haha, wish I had all my knowledge from now back when I was 18 when choosing university

[@tazokakabadze3828]

Well done algorythm.I am proud of you

[@iono1019]

Amazing this advice can apply in so many scenarios.

[@drshoexu]

This guy actually looks like a stereotypical banker/layer/consultant. Interesting

[@mt4824]

yea and feels like you want to tell him don't afraid to be yourself / stop faking someone else and fullfil some idiotic image

[@maxr8392]

Definite lizard vibes.

[@eg7879]

Max R more like *LAZARD VIBES*

[@eg7879]

Bruh

[@milz7129]

he's Patrick bateman

[@maxwellchannon1368]

Thanks for making this available

[@sweetbrown3476]

How are you doing today and how is the weather condition over there?

[@thiagodalboni8541]

great advice for young professionals in client-based service industries

[@mouslydowdow5176]

Fantastic video. He seems like a man of integrity and that clearly speaks volumes in his client relationships.

[@threethrushes]

It's the suit.

[@spindrift2009]

The lifelike "skin" stretched tightly around a hyper-alloy combat chassis is stitched together pretty crudely in the back, but FROM SOME ANGLES it can almost appear human, so they have careful programming to move their head like that.

[@karangtavana1283]

This is one of the funniest comments on this thread. Good job.

[@Fidellio369]

This my friends, is what a COMPETENT MAN looks like

[@RooKangaRoo]

Your mother knows what a competent man looks like

[@heyyou274]

@@RooKangaRoo What ? 😯😃

[@amirmohammadian5712]

The man is a preacher, preaching like a charm

[@crazy4cockapoos]

The "be an everything advisor" will make you more money than any other single piece of advice. When you become that person to a client they will become a rainmaker for you.

[@logansullivan2632]

The last point about speaking the language/jargon of the profession is so true.

[@sakeb3645]

Some golden advice here. No doubt, he's an excellent banker!

[@sweetbrown3476]

How are you doing today and how is the weather condition over there?

[@SouthwestTed]

Excellent, straightforward lecture while still being engaging.

[@matthewcandler4179]

I'm an engineering consultant and he is spot on!

[@mariorodriguez219]

How did you make it to that role?

[@faitie6970]

Find someone good at it and learn from them. Become a strategic adviser to the client. Go beyond the primary role you were assigned at employment. Take that opportunity to build a relationship by offering advice in other areas (not in an intrusive way). Be empathetic (ask open-ended questions and be ready to listen). Be creative

[@morenoh149]

This is good for consulting and freelancing as well. We feast and famine in freelancing too. Good to smooth that out.

[@AndronovAlexander]

1) Find somebody who's really good at what you want to achieve, and learn from them 2) Become strategic advisor to your client 3) Ask open-ended questions and make people to talk about themselves 4) Be creative, don't be doctor "no" - don't just say "no", but propose alternatives 5) Be prepared to give the client advice that is against your interest (it helps to establish credibility) 6) Be there for client everytime 7) Be upbeat 8) Learn the business jargon so as not to get lost in negotiations

[@nickshildbede]

This is such a brilliant video. I cover clients in banking in London and send this video to all of my team regularly.

[@risler09]

Great conference, hope you come back to chealsea, we really miss you Tuchel

[@Nadestorms]

Great video, now that I’m in the working world I found this video and learned a lot. I don’t think I would have in college. We should normalize classes during employment. PSU grad.

[@MM-jn9ts]

I know a lot of I bankers. It’s really just about working hard and being vicious to make as much money as possible while you can. They spend about 10 - 15 years scraping their way to MD, then most reap what they can for another 5 to 7 years before burning out and moving on. There are lifers though. Most are absolute pricks, but some are generally kind and interesting dudes. Some but not many. All of them are crazy smart, but can be incredibly stupid in simple ways because they are so full of themselves. Honestly I think a fair amount are highly functional sociopaths. Straight up.

[@panama_juan]

Incredibly stupid in other aspects because they're only experiences in life are work and closing deals. Not to knock this guy, he is straightforward and a great public speaker. The lifestyle and non-stop working just looks unfulfilling to me. Ask him about a different country, language, culture and he'll give a blank stare. A very US centric, work till you drop to be wealthy and successful mentality. If that's what you want, by all means. I enjoy his take though, he has sound advice.

[@main_stream_media_is_a_joke]

@@panama_juan Yep. Same thing can be observed in high flying doctors who are very good in their domain(thanks to crazy hard work and crazy schedules)....but have practically zero idea about other areas. They may be able to have good conversations within their circles...but are boring in other areas.(not their fault ..it's just lost opportunities to develop in other areas because they choose to develop to an extreme in their field)

[@katahdincloud9803]

These firms are brimming with impressive, well spoken, well educated, finessed, competent people. Many of them act like they know it and Some just aren’t good people.

[@panama_juan]

Exactly, keep them at an arms length because they will screw you over for money in the drop of a hat. Investment bankers at GS or any other Wall Street investment bank for that matter, are nothing to emulate unless you want to sell your soul. McKinsey, a management consulting firm, is another example. All the big shots want to work for these people who have sold their souls for money, power, and influence. Then they become politicians. Masters of deception.

[@rporther]

...and there's a sunk cost that you the advisor absorb upfront but you gain a client for the life of that client, and your career. You also develop quite naturally a well tuned referral portfolio.

[@maxvanzile3804]

This guy is a scary robot but anyone who works with clients in any capacity should 100% internalize everything he's saying

[@jimbojimbo6873]

Rather have a world full of people like him than the average person

[@AmviciousRav]

He’s reading a script he’s memorized…

[@jaydtrades5359]

Great speech. Excited to apply this at my new job

[@JamesB-kz2vk]

I should probably just listen to this every morning before work

[@ayetreyyy]

I listen to this multiple times a month.

[@nidulamaknidulamak4214]

This dude came straight out of the matrix.

[@GeorgeLee]

Great lecture for anyone interacting with other people.....So, for every one, I guess.

[@connor5455]

Yeah, this is a great video for my niece who works part time in Starbucks!

[@xtallllala1275]

“ carry somebody’s bag for them “ is a kindly gesture .. also flatter them is another way

[@kacperrools]

I wish they taught better microphone purchasing skills

[@ellabella7071]

The type of person that you can gain a lot of life skills from 💗

[@stephenbaron3678]

Beautiful brains are orgasmic. He is even a master of vocal resonance, a skill on good voice usage.

[@hyperfree]

Corporate talk much interesting. Much work life balance.

[@TheAcolossus]

yeah pretty shitty talk doesn't translate over to the real world

[@PaperRaines]

This is advice, for life. Well beyond managing clients

[@Obsidian12332]

his reflections on work/life balance made my hair turn grey

[@sanareviewsthings]

Now I want to study in all his classes!

[@luisluis4130]

Wow

[@albertkeller9084]

So true, find the best mentor you can in your trade, and do everything like him/her: it will save you a ton of time doing all possible errors. I was so immature out of college ... so many regrets

[@AlfieTheProducer]

Wonderful advice by a competent man

[@makingthestartup3384]

If this guy was my professor, I‘d pass with flying colours..

[@joshuadorsey7615]

I just started to invest through dividends in the stock market and I want to become an Investment Banker, after this speech by Mr. Jim Donovan, I want to become one even more. University of Virginia, you are at the top of my list and will be applying to you in the coming years.

[@FriendlyNeighbourhoodSpidey]

I want to be an investment banker too

[@freshprinz8996]

How is it going mate? I hope you are achieving your goal.

[@shazislam7720]

This was great! Some honest and really good advice.

[@luvsketchimprovvv1781]

More videos from Jim Donovan please!!!

[@15v1c1]

that's why in finance networking is SO DAMM FUCKING IMPORTANT. you need these connections to get somewhere and learning something. in this globalized economy and internet everywhere. people are less patient to sit there and teach u sth

[@nishonthebeat]

What a dope dude. I love his energy fr.

[@islamdintajamow]

Never seen such a dominant presence

[@poosnip]

Nope ... the whole thing is a show for idiots who buy the investment banking myth. If this guy was any good he would never sign up to talk to bullshit students at Virginia law! It’s all tripe . Investment banking as this dick is selling is in structural decline ...in fact it’s dead.... the money is in hedge funds...or trading on your own or some other business that allows you to build capital to trade on your own. This guy has told us nothing else but basic consultative sales. HE MAY LOOK IMPRESSIVE, BUT THAT ONLY WASHES WITH PEOPLE WHO HAVE LITERALLY NOT DONE ANYTHING IN THE REAL WORLD.

[@rutkettu]

@@poosnip Investment banking is not in structural decline. The trading side of IB might be, but the corporate finance side is certainly not.

[@poosnip]

Vincent Weckström I agree.... the trading side of the investing bank is reduced greatly. Consulting is next. Corporate finance.....Basically extracting fees for not much work, will also come under scrutiny

[@SpaghettiToaster]

@@rutkettu Corporate finance is literally bullshit on a theoretical level. As time progresses, it can only decline.

[@thablackchristiangrey]

poosnip not sure if you’re just trolling or just a complete idiot. Virginia law is the 8th best law school in the country anyone given the opportunity to teach there is extremely intelligent. Secondly did u really say this man isn’t impressive??? He was a fucking managing director at goldman sachs. Not to mention he has a degree and mba from MIT and a JD from harvard law lmao Go be bitter about your bum ass life somewhere else this man is more impressive than 99.9% of the world

[@Lemonzify]

Impressive. Very nice.

[@TK-ne2yo]

8:11 that has matured well.

[@alexv1032]

Tywin Lannister

[@mark_9019]

This guys is dating Hope Hicks, serious lol. Good for him!

[@ryanfromli]

14:05. An example of a smart, successful and worldly person having lost track of what's actually important in life. You can get hit by a bus tomorrow - seek good work life balance on a daily basis and attend to the things in life that actually matter in addition to your work.

[@yujirohamna555]

Vague word. He make choice and it pay off. Work life balance didnt exist since recently.

[@endgamefond]

He is calm. His body know he has gone trough a long n hard experience.

[@keynesianeconomics4113]

I wonder if his business cards are bone or eggshell, or if he used Romalian Type as his font.

[@dr.badass702]

The lettering is something called "Silian Rail"

[@davynj3]

Learning from him when it comes to business. Something comes off like military/gov.

[@MEDAKkx]

crazy that this knowledge is free to anyone these days

[@roblove5624]

This guy said Um once in 20 min. Great speaker

[@adkads27]

After this speech he had to return some video tapes

[@johannesonthebypass]

Great to see Saul made it!

[@zants_]

I found this video again. My hairline has started to recede and instantly remembered this video and how he had his hair styled, so I've been trying to find the video again so I can plan for how I want my hair styled in the future lol. Probably the only person that can say that's why they watched this video 😅

[@magamaga1827]

you sound like a putz, did i kick your ass in high school?

[@honklerfinkelstein2113]

"feast or starve" he unintentionally said the motto of banker's

[@DouglasLee9]

Great topic. So pertinent to me in Sales.

[@lasagna3106]

Yep. I call it leading and have dropped the sales verbiage. High level sales is leadership in relationships.

[@prithviraj1080]

Worth the time!

[@pkl8811]

Buying Gold.. Especially Barrick Gold

[@TriPham-yo7we]

Thanks for lesson

[@raymondswag1372]

Great advice

[@jobber1984]

I wish I got this advice 10 years ago fresh out of school. Spun my wheels for many years

[@kena.8003]

I was just thinking something similar. I learned many of these things through experience and trial and error (some from mentors). But I wish I heard this speech years ago. Now that I cover clients and generate business, many of the lessons here ring true.

[@lucafedele3795]

best video ive seen a long time now

[@ianderrick2162]

Where can I actively search for an investment manager? I’m open to any good suggestions as well.

[@devonthe2nd538]

Have you heard of William Stanley PJ? I found him on Upwork. For over 8 months now he’s been my investment manager and he’s excellent.

[@devonthe2nd538]

I’ll leave you with his direct tele gram contact if you wish to ask for more details.

[@devonthe2nd538]

＋1 (4:07)-4:34-15:29

[@ianderrick2162]

Thankyou very much. I’ve seen couple mentions about William from investors, but I’ve never gotten his contact information. Thankyou.

[@turgesten726]

@@devonthe2nd538 when it comes to investment management, William always comes to mind because of his track record

[@threethrushes]

I bet this guy's business card is lit.

[@sauravpandey5013]

World class professor.

[@MrNando316]

Insightful. Thoroughly enjoyed this talk.

[@heinz2554]

It’s funny because when I was out in the real world everyone a doing almost the same thing, asking “ open ended questions” and talk less. At the same time I know why they’re doing it, and I as well.

[@douglashuntley]

.