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Ryan Spitz ’08 (Princeton Junction, N.J.) spends the school year living on a college student’s budget, but this summer he was immersed in the world of high-net-worth finance.
Spitz worked as an intern at Lydian Wealth Management under the guidance of Jamie McLaughlin ’76, managing director of the firm’s New York office.
Lydian provides an array of financial and investment services to about 150 wealthy families. Spitz is the first intern McLaughlin has hosted at Lydian; he hosted other Lafayette students for several years prior to joining Lydian.
“We look at an internship from two different prisms: one, we need help, and two, we see it as a great way to determine if someone is a fit for a full-time job,” McLaughlin says.
Spitz says his internship was a “trial by fire,” which gave him the opportunity to contribute to Lydian in numerous ways.
“Jamie’s assignment of various projects forced me to learn about business by actively participating in the business world,” he says. “The projects that Jamie assigned were really important because they’ll be used by the firm.”
As part of his responsibilities, Spitz traveled to Washington, D.C. where McLaughlin gave a presentation that Spitz created.
“He was treated like a partner, and he really stepped up,” McLaughlin says.
Spitz is a double major in economics & business and philosophy, which he considers complementary disciplines.
“I see philosophy as assisting me in practically applying economic concepts,” he says. “The internship was a terrific fit considering my majors; I don’t think it could’ve worked out better.”
Although Spitz is still weighing his post-college career options, he has been impressed with Lydian.
“For me, Lydian was the ideal place to gain entry into the business world,” he says. “The firm offers high quality financial advisement that rivals and, in many ways, surpasses that of their competitors. However, it’s a smaller firm in comparison with some of the ‘big hitters’ in the business. I see Lydian’s size as an advantage because it allows for more intimate client relations, and employees to do their jobs in the absence of an intricate bureaucracy. Take that and put it in an expanding high-net-worth market, and Lydian appears to be busting at the seams with potential growth.”
In seeking the internship with Lydian, Spitz learned what it takes to get a foot in the door. Out of dozens of applicants, he was one of just five candidates interviewed for the position, and he made a good first impression. When McLaughlin arrived at his office at 7:20 a.m., Spitz was already waiting outside the building, doing some last minute reading up on the company before his 8 a.m. interview.
“I had an image of him being a can-do person,” McLaughlin says. “He had the right spirit we were looking for.”
Spitz also speaks highly of his alumni host.
“I don’t think I can sing Jamie’s praises enough,” he says. “He’s one of the most energetic and passionate people I’ve ever met. Most importantly, he knows a lot about the industry and loves his job. Because Jamie brings this positive outlook to work everyday, his attitude is contagious. I learned so much from him. On the flip side, I hope that Jamie and Lydian benefit from my work.”
Spitz is a midfielder on the men’s lacrosse team. During the fall semester, he plans to study abroad in Geneva, Switzerland.