Anyone a Financial advisor or has one?
03-06-2005, 10:29 PM
#1
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Anyone a Financial advisor or has one?
As some of you know I just got out of grad school and looking for a new career. I have a freind who works for a pretty large investment firm that most of you have heard of. I passed her on my resume and she was pretty impressed with it since I already have banking experiance and she told me about an opening for a financial advisor in the investment firm.
I did not have financial advising on any of my job searches but I did take some financial investment courses during school and they were pretty interesting. I however don't like aggressive sales etc. Hate that stuff.
So anyone here have experiance or know any info they could share? I'll do some more research on it online, pretty good pay it seems like. If not I'll pass on the interview.
I did not have financial advising on any of my job searches but I did take some financial investment courses during school and they were pretty interesting. I however don't like aggressive sales etc. Hate that stuff.
So anyone here have experiance or know any info they could share? I'll do some more research on it online, pretty good pay it seems like. If not I'll pass on the interview.
03-07-2005, 09:17 AM
#2
Never done it, have some friends who have. It can be feast or famine depending on the company you work for and how salary vs. commissions are paid. Most likely it will involve some selling of financial products if you want to make decent money.
My friend made some reall good cash during the stock boom of the 90's. He sold tons of product and made huge commissions. When the market crashed though he did not have enough support the lifestyle he was living and "borrowed" some money that did not belong to him. Um.....he does not have that job anymore, but the first couple years for most broker/investment advisers can be lots of telemarketing or something similar to build a client base. Cold calling. If you make it past that point and get word of mouth referrals, you are home free.
It generally goes like this (from my internship with American Express Financial Services) :
"Good evening so and so during your dinner hour, my name is X and I would like to send you some information about planning for your financial security. Yada yada.... so if you just give me your name and address I will send you some no obligation information about how I can help you plan for retirement, your kids college, armageddon.....etc"
If they have not hung up by then, you send them a packet, call back in a couple weeks and say:
"Hi so and so this is X again, did you get a chance to look at the materials I sent you? Great. Do you feel like you are planning enough or in control of your financial future? Well if you would like, I would love to set up an appointment with you, I can come out to your home or office, and we can talk about what your goals are, and I can show you how I can help you achieve those goals. Peachy? Sweet! Lets do lunch"
Some places, like working for a big bank, will ship you more clients of theirs that just walk in the door, but the money is not as good and they tend to have higher turnover.
Sorry for the long winded post. Good luck.
My friend made some reall good cash during the stock boom of the 90's. He sold tons of product and made huge commissions. When the market crashed though he did not have enough support the lifestyle he was living and "borrowed" some money that did not belong to him. Um.....he does not have that job anymore, but the first couple years for most broker/investment advisers can be lots of telemarketing or something similar to build a client base. Cold calling. If you make it past that point and get word of mouth referrals, you are home free.
It generally goes like this (from my internship with American Express Financial Services) :
"Good evening so and so during your dinner hour, my name is X and I would like to send you some information about planning for your financial security. Yada yada.... so if you just give me your name and address I will send you some no obligation information about how I can help you plan for retirement, your kids college, armageddon.....etc"
If they have not hung up by then, you send them a packet, call back in a couple weeks and say:
"Hi so and so this is X again, did you get a chance to look at the materials I sent you? Great. Do you feel like you are planning enough or in control of your financial future? Well if you would like, I would love to set up an appointment with you, I can come out to your home or office, and we can talk about what your goals are, and I can show you how I can help you achieve those goals. Peachy? Sweet! Lets do lunch"
Some places, like working for a big bank, will ship you more clients of theirs that just walk in the door, but the money is not as good and they tend to have higher turnover.
Sorry for the long winded post. Good luck.
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