Over the past two weeks, I have had the opportunity to be a part of DWM’s amazing group of people, and let’s not forget the office dog, Buster Brown. I have been able to see the ins and outs of each one of their daily work lives and even got to jump in on some of the action myself. Before the internship, I believed that wealth management would revolve primarily around investments, financial reports, and related areas. I quickly learned that the profession has a much deeper, more personal side to it. From having the pleasure of sitting in on meetings to even joining lunches with clients, it became clear to me that DWM is not just a company focused solely on finance; it is a community built on relationships, trust, and a commitment to creating successful futures for the people we care about.
Another aspect that really spoke to me during my time with DWM was how broad the world of wealth management truly is. Prior to being exposed to this industry firsthand, I mostly just associated it with investing and stock portfolios, with some smaller financial services on the side. However, being here at DWM helped me learn that wealth management stretches far beyond that. The team works closely with clients on a variety of matters, including retirement planning, taxes, investment management, and collaborating with attorneys and bankers to help clients achieve both short- and long-term goals.
DWM’s process focuses heavily on the three crucial services, which they refer to as the “three-legged stool.” With financial planning, tax efficiency, and portfolio stewardship, each area depends on the others to create the strength and stability clients need to achieve peach of mind within their financial lives.
The meetings that I had the chance to observe, and even contribute to in some cases, showed me the importance of communication and listening in this field. While always staying professional, the conversations were authentic and personal. It felt as though DWM approached every interaction like a sponge, trying to absorb each client’s personal goals, concerns, future plans, and more. The more they were able to understand a client’s aspirations, the more they could put together the most fitting, personalized plan for each client.
One of the biggest surprises to me was the sheer amount of teamwork and preparation that goes into every interaction. From an outside perspective, meetings seem almost like spontaneous conversations. After being in the office throughout each day, I began to realize the true amount of planning, organization, and collaboration between team members that goes into each one. Preparation and trust, not only within the team but also with clients, are crucial to driving long-term success for both parties.
This lesson correlates very strongly with my own personal journey throughout college. I was born in Chicago, Illinois, and grew up most of my life in Glen Ellyn, a suburb outside of the city. When I first entered college, I started as a Computer Science major because I enjoyed both problem-solving and technical work. However, over my first semester, I realized that I desired a career that combined analytical thinking with a much stronger social aspect. This realization led me to the business world, where I chose to switch my major to Finance, which has proven to be exactly the fit that I was looking for.
Throughout my college career, I have developed many skills, making me efficient in things such as formulas, software, financial concepts, and analytical thinking. These abilities I gained are important and will continue to help me throughout my future career. However, my experience at DWM taught me that there was an extra level to all of this. Behind every formula, transaction, and financial plan are real people with unique goals, backgrounds, and stories. You can crank out the “best numbers” on paper, but the truth is, if it is not personalized toward the human behind it, then it is just another financial plan with little personal value to them. The relationships and understanding that are built between people, both personally and professionally, are often what is most valuable in the long term.
As I look back on these two weeks, I am incredibly grateful for the opportunity to dive deep into the world of finance through DWM. Every single person I met within the DWM community was so welcoming and willing to share their experiences and the knowledge they gained throughout their careers. I would say that one of my final learning experiences, and maybe the hardest to get through, was stopping myself from eating all the office cookies. Jokes aside, my time at DWM taught me far more than I would have expected coming into the internship. It gave me a much clearer understanding of what wealth management is truly about and reinforced my enthusiasm for pursuing a career in finance as I move into the future. I came into this internship thinking that wealth management revolved around number crunching and data, but I left realizing that relationships and trust are the foundation that holds it all together.
Editor’s Note: Caden Detterbeck is Brett’s second son, age 20, and a senior at Iowa State University, majoring in Finance.