Entry level job ideas if i want to become Financial Advisor later in career?
Question:
My ultimate goal is to become a financial advisor, which I know will take many year. After at least 3 years of valid work experience, I would like to attempt to get my CFP also. This being said, I am not sure what the best first step would be as an entry-level job if these are my goals. Also, I live in the midwest now and plan to move to the south after graduating. So, I would be looking for jobs in the carolinas, georgia, or florida...if that matters at all. I know I have asked/said a lot, but I would really like to know what steps to make after graduating. Thank you.
Answer:
I would suggest to apply at a large institution/bank like Citibank, Chase, HSBC as a Personal Banker. Gain experience by recommending/advising customers of financial needs. Once you understand that concept and basics of banking and selling, you'll be able to apply internally as a Financial Advisor..or even something different since that position will open up many more doors!
accounting would be nice to start off. Or look for a job that has something to do with finance.
get into business and marketing courses.
go to an experienced financial adviser and ask them instead of clueless people here. They will give you good advise. experience is everything.
Insurance compaines have jobs for financial advisors. You are sure to be hired by one of them.
I hope you didn't want a long answer; check out a company like Primerica (maybe PriAmerica) or the such, tell them you want to give people advice on how to spend their money and they will most likely offer you a job right then and there. it's really that easy.
i know this because i wanted to do the same thing; i didn;t follow through because i didn't want to sell their products, which you cannot avoid if you are only begining in the industry, and i realized that i can make much more money investing and can learn much more about money management.
You could check out large banks, insurance, or mortgage companies and look at underwriting or financial analyst careers. A lot of people I graduated with chose that type of job right out of college. You get great experience working through people's financial situations and the pay is great for entry level positions.
Try applying to an Investment Bank (Morgan Stanley, Merrill Lynch, etc.) or a brokerage house. they have entry level positions there. They also may pay for your MBA.
Don't do Primerica from what I understand its a scam.
I am also pursuing my finance degree. I was talking to a very knowledgeable commodities broker and he said this" there comes a point in your career when you have to decide if you want a salary or unlimited potential income, the harder you work in sales the more you make". He suggested working for smaller boutique investment firms selling accounts on the phone. He has worked for large firms and because there is a lot of competition you are limited in the amount you can make. There a many small investment firms firms in Florida, where I live, especially the Boca Raton, Delray area. This kind of job is strictly sales, which might not appeal to you.
I was a finance major in college as well. My first job was with Vanguard where I worked in client services. After that I transferred to the Retirement department where I took questions on complex IRA questions. My opinion is that client services prepares you very well for that career path because you get used to talking to people, meanwhile learning a lot about the market. Of course my area of expertise was mutual funds, but you could really go to any financial services firm and find a job in that field. You will probably need to take NASD entrance exams (6, 63, 7) to become qualified, but any respectable company will pay for you to get those.
Have you simply typed "Financial Advisor" into the search bar for one of the on-line job sites, like Yahoo! Jobs? I suspect that even if they do not have an actual position you would be interested in (although they just may have something?!?!) just browsing the job opportunities in that catagory could be helpful to you. The "Hot Jobs" site is another one that would be a good research tool for you. Many give salary ranges, a brief description of the position, and will indicate if they require experience or if they are seeking entry level applicants. You can also narrow down your search to the geographic area in which you want to work. In fact, since some will indicate what education, degrees, and experience they are looking for in a candidate, it may be possible for you to get a much better idea how to target your future efforts toward that ultimate Financial Advisor position.
Of course at a bank. If you find a good program that they can offer you a pretty nice package. They would sponsor your Series 6 or 7, the Life Ins license, there's a couple of them. Usually takes about 2 years to complete everything. And while you're studying, you can work on the floor and get hands on experience. good luck!
I know people who got hired out of school with Finance degrees as Financial Advisors.
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