Meghan Garrity ’19

College: University of Notre Dame
Major: Finance and Spanish

Where did you work?
Clifford Swan Investment Counselors, a wealth management firm in Pasadena.

What were your primary responsibilities or projects?

As an intern, I helped with portfolio management and wealth planning. As part of wealth planning, we identified a plan for clients to ensure their wealth will last their lifetime through prudent investment. I researched equities with the company’s research team and learned how to value a company. As part of the research process we broke down each company by the firm’ quality ratings and made our individual assessments. Additionally, I helped with estate planning, such as breaking down trust documents, and generated credit reports for the fixed income team. Finally, the internship culminated with an investment pitch of Lululemon (NASDAQ: LULU), which we presented to the firm at the end of the internship. 

What was the overall work environment and company culture?
As a smaller shop located in Pasadena, the work environment was very welcoming and educational. The attire was business professional, with the reminder that clients can walk in at any time, so it is imperative to dress your best. I truly enjoyed the employees at the firm. They were so willing to teach us about their different roles at the firm and spend time passing on their financial knowledge as professionals that have lived through multiple market cycles. The hours were standard for a career in finance, in at 8am and out by 5pm. Overall, it was an incredible experience, especially because of the culture of the firm and the emphasis on learning during the course of the internship. 

Did your summer internship align with your college major? 
Yes! I am a Finance major at Notre Dame.

What did you find the most enjoyable or most interesting part of your job?
My favorite part of the job was researching companies and creating an investment thesis for Lululemon to pitch to the firm. It has been a crazy year for the market, but like it always does, the market has rebounded and stocks are back at all-time highs. It is a really difficult time to find a quality company that is being traded at a discount, so finding a story for Lululemon and sharing it with the firm was most rewarding. Researching equities is one of my favorite things, because there is never a simple answer to why stocks are trading the way they are, so I enjoy the challenge of picking apart a company and attempting to rationalize the price of a stock while also projecting its future value. 

Was there a skill you learned at Mayfield that helped you do your job better?
The best skill I learned at Mayfield that helped me in this job is being a people person. Wealth management is a relationship driven business, and MJS taught me early on how important it is to be able to connect with people and form relationships. Whether it was through MJS families on Fridays, meaningful relationships with teachers, or connections with classmates, Mayfield gave me the confidence to be comfortable in my own skin and taught me how to connect genuinely with others—especially older adults. 

What new skills or knowledge did you acquire during your internship?
I was exposed to the crazy world of estate and tax planning, which I had little exposure to before. I learned how to trade fixed income and create credit reports by using the Bloomberg software. Another large part of my learning was becoming highly proficient with Excel, which is such an important skill for anyone in finance to have. I am grateful to use Excel to model Lululemon’s financial statements and project its earnings out to come to a fair value estimation of the company five years down the line. 

What accomplishments are you most proud of from your internship?
I am proud of the projects I completed while at the firm, but I am most proud of the connections I made at Clifford Swan, and the mentors that I gained through the internship. I am confident that now or years down the line I could call anyone at the firm for career advice and they would do anything they can to help me. College and my internship have taught me that having mentors is one of the most valuable keys to success because they provide guidance, perspective, and support at every stage of your life.

Did your internship change your thoughts or influence your future career path?
My internship reaffirmed my interest in a career in wealth management, as it combines technical finance and relationship management, all while staying closely connected to the markets. Next summer, I will continue with finance and join a large sell-side bank to intern in private wealth management.

How did your summer internship contribute to your personal growth or self-confidence?
I am lucky enough that Notre Dame has provided an incredible foundation for my knowledge in finance, but the job only reassured me how important it is to be confident in yourself and believe in your own intelligence. Imposter syndrome is true for everyone, but especially for a career in wealth management; if you don’t believe in your capabilities, then your clients won’t believe in you either, and that’s when you’re in trouble. As I worked through the tasks, I realized I was more capable than I had given myself credit for and that, with focus and effort, I can complete any challenge that is thrown my way.