A Career as a Financial Advisor A career as a financial advisor is a fantastic opportunity, and a career that is an expanding profession. With people constantly needing financial advice, every year the demand for financial advisors is increasing. Because of the growing demand and few requirements needed, becoming a financial advisor is relatively simple, but the road to becoming a successful financial advisor is difficult. It takes many different skills and abilities in order to become successful. Therefore, a career in financial advising is a challenging path that can be very rewarding. What is a financial advisor? A financial advisor, according to Cussen “could refer to a licensed stockbroker, insurance agent, CPA or other tax professional, …show more content…
Even though it is not necessary to graduate high school in order to be successful, it may be beneficial to go to college to get a degree (Pham). Some colleges provide classes that assist in getting certified as a CFP (Certified Financial Planner), CLU (Chartered Financial Analyst), or ChFC (Chartered Financial Consultant) (Cussen 2). A financial advisor who works for a company sells insurance, stock, bonds, and mutual funds and will need to pass federal and state exams in order to get a license to sell those products, and going to a financial institution will prepare an aspiring financial advisor for the license exams. A financial institution is tailored to teach hopeful financial advisors how to pass the license exams. In order become successful, a financial advisor must sell products. To acquire products to sell a financial advisor must go through product training. What are the disadvantages to being a financial …show more content…
Things such as difficulty in starting out, stress, liabilities, and commission based pay. When a financial advisor’s career is just beginning, he must go out and spend long hours finding prospect familiar or strange, more than likely being rejected more than once (McLaughlin 2-3) . McLaughlin states in his article “that about two-thirds to three-quarters of candidates entering FA training programs are out of the business within five years” (1). Dealing with frustrated prospects and unhappy clients can lead to stress, which is always undesirable. Because of the sensitivity of working with other’s finances a financial advisor could be sued for things out of his control, and if the advisor did not follow certain regulations while selling his products he can be legally liable for all his actions (Cussen 5). The salary of a new financial advisor is normally a commission based salary dependent on the sales he makes, meaning that his salary is not set in stone, but that also means he can make as much as he chooses to work (McLaughlin 2) What are the advantages of being a financial advisor? Although there are many disadvantages to being a financial advisor, the advantages outweigh the disadvantages if overcome. “Being my own boss” according to Diana Pham is a significant advantage. That independence includes choosing what products the financial advisor wants to sell and to manage his work hours are some of the things
Buying or selling a house or an apartment is one of the biggest decisions of a person’s life. And when selling or establishing a price for real estate, people seek out real estate agents to do the dirty work. A real estate agent has to convince a prospective homeowner that he or she is trustworthy and knowledgeable. In many ways, the agent acts as a counselor to individuals and families about to embark on a huge commitment. Real estate agents have a thorough knowledge or real estate market in their community. They
Getting a college degree is almost mandatory in this era. Finding a good job without a college degree is extremely difficult. Most of my family didn’t attend college so they always told me the struggles they faced when searching for jobs. My goal is to become an accountant so I can only learn those skills in college. I want to further my education and career opportunities by becoming a certified personal accountant. College not only teaches skills that people need for jobs, but it also teaches skills for improving as a person.
The Advantages and Disadvantages of being in Real Estate A. What you would like most about your job 1. Being your own boss 2.
The career I wish to pursue is that of a stockbroker. I am extremely interested in the trading of stocks and financial holdings so the career of a stockbroker just seems to fit in with my overall plan. Numbers have also always been a fascination of mine and the trends of the economy and long term financial outlooks have often interested me greatly. Stock broking is a risky business that one needs to be prepared for highs and lows if choosing to pursue. You must understand what a stockbroker truly does to even begin to follow this as a life long career.
My God there are so many careers out there, who in the world can pick just one. That’s what’s been weighing on my mind heavily is what career is right for me. I’ve thought of a couple that interest me but I want to find out everything there is to know about a financial advisor. The reason that I’m interested in this field is how everything is the same when it comes to the actually math behind the career. Also I like to deal with people and money so a job as a financial advisor just seems right for me but I intend to find out as much as I can to make sure there’s nothing surprising or any kinks in what sounds like the perfect job for me.
While most college students see their advisor as someone who can help them register for classes, the reality is that there should be so much more to the advisor-advisee relationship. Even though college is referred to as the best years of a person’s life, they can also be the most daunting if students discover they have nobody who can counsel them as they make life-changing decisions. As an aspiring advisor, I hope to show my students that there is much more to than the academic component. Perhaps one of the most vital factors that contribute to a strong advisor-advisee relationship is the personal connection and trust that must be built.
...ompanies to believe that the result they will get if they follow this path. These two professions require to use the critical thinking to think logically. They use their numbers by giving the facts and their hard working on the market research as the solid statements to prove their points. I may possibly suit for these. I love math. I like to play with numbers. I have a broad knowledge in operating the computer as well as the Microsoft Offices. It suits my goal. You can be self-employed. You can control your time. Although they can work under the highly pressure environment because of the deadlines required by the clients or the projects you are working on. If you know how to manage time, put time to work wisely, you already pass the obstacle in front of you. Having a balanced life between working and relaxing will help you making a big jump in your successful career.
Academic advising plays a huge role in students’ lives and it is a share responsibility between the student and their advisors. There are many ways in which advising benefit students. Advising enhance students’ abilities to utilize the resources that colleges provide for their students. Guiding students to stay in the right track of their academic courses and following up with all the updates and requirements to graduate is also objectives of the advisors. Advisors encourage students to get involved in the college activities, such as clubs, sports, extra courses and so on of the resources that are available for students. They help students to find scholarships and prepare them to transfer to the next step of what they want to do after their college careers. There are many positive effects of having an advisor in your college career. However, many students these days do not take an advantage of this resource due to lack of Advising communication and others. Although the advising office and the advisors lack several skills, such as good communication, not enough time spent with students, and limited knowledge. However, there are many positive effects of having advisors
Seeking the services of a career counselor can provide many benefits. One can gain a deeper understanding of him/herself, gain information on education and careers, gain sills in decision-making, gain support in conducting a job search or applying to higher education, and gain support coping with career transitions (NCDA, “Why Seek Career Counseling, 2007). How a career counselor provides services depends on his or her theoretical approach to career counseling.
Becoming a financial analyst will allow me to enjoy a career in the finance field that pays well and also offers ample opportunities. The position of a financial analyst is growing very fast and so there are more opportunities for me to become a financial analyst. Being a financial analyst will not only put me in a powerful position within the organization but it will also teach me skills that I need about investing for my own financial life. Some of the qualifications for the career that I already have include a bachelor’s degree in finance, technology experience (Microsoft word, Microsoft outlook), skills such as maximization of work practices, and quality vigilance. One qualification that I need for this position is the ability to turn data into information. Since this position requires past experience and I have none, I can undergo training so that I can be at par with the job functions and requirements. Despite the fast growth of the job, though, there is stiff competition and even though I will most likely get this job with my bachelor’s degree, a master’s degree will help me stand out among my competitors and it will also be a wise investment for me since I have my eyes on a financial management position at one point in
A stock broker is an agent that charges a fee or commission for executing buy and sells orders submitted by an investor. Stock brokers can either independent or part of a brokerage. If you are a stock broker you will be trading stocks that your clients have purchased or you purchased for them. A broker is a job where you are trusted with others funds to make more funds by either selling or buying. To be a stock broker you will need to be a great problems ...
Personal financial advisors do exactly what their title says; give financial advice to people that may not be as educated in the area of finances. Financial advisors, also known as financial planners, provide assistance in every aspect of the client’s financial plan. They may help with taxes, insurance, and investment plans. The advisors are there to provide a personalized plan that suits the client’s life style and personality. They do the complicated math to ensure the client has enough money for retirement and other aspects of the client’s life. Planning a financial plan for the rest of some one’s life has become more complicated as the world is advancing in every aspect, beginning in the 1960s.
They have to be punctual and have the ability to put in long hours every once in a while. Based on the information that I have researched, I can say that being a financial analyst wouldn’t be a bad fit for me. I have always had a knack for problem solving, especially during mathematical situations. I do slightly lean towards being a team member compared with being independent, and it could pose a bit of a problem if I do undergo this career. Like most people in business, financial analysts do spend some time traveling, and I definitely wouldn’t mind doing so. Financial analysts aren’t the only ones involved in financial and investment services; stockbrokers are also involved and are responsible for selling stock and other securities to others and conducting trades . The career is similar, but workers there put more focus on the stock market because they have to interpret it well in order to conduct trade deals. I do have some interest in following the stock market, so this career option wouldn’t be so bad for me. Being a budget analyst is another option related to finance. People in this profession are responsible for organizing budget reports for companies . One concern for the profession, however, is the national growth rate for the next decade. It is at 3%, slower than the average occupational growth rate of 7%, and much slower than 12% growth rate for financial analysts. Financial analysts could eventually be promoted to financial managers and have even more responsibility for managing a company’s finances. As of 2015, the median salary for this profession is $117,900
Choosing which career path to follow is one of the most important decision people take in their lifetime. Considering that this decision will affect the entire future life, it is very important to be sure that it is the right one. It is one of the most important steps in order to successfully find a job that would satisfy personality needs and guarantee a steady income. If he or she is passionate about their job, hard work is simplified and high salary helps to concentrate on results. The key about being successful at work is to be in love with it.
Never have I ever climbed a mountain peak. As a child, I imagined myself conducting expeditions in deep-frozen pathways, leading amateur explorers to the top of the world, and instructing rookies in surviving harsh blizzards. Even though slightly altered, my childhood dream has been achieved. I led a team of fellow classmates, in my Strategic Management course, to the success summit of a financial competition. Over the course of a semester, I and my teammates were supposed to create and manage a company of the IT industry, in a computer-simulated environment, along with other four rival teams. I dealt with strategy and financial matters of our virtual enterprise, while my colleagues were working on marketing and manufacturing. During the four months of the exercise, I have experienced finance from various aspects: capital budgeting, through selecting favorable investment for upcoming quarters; debt management, by assessing the necessary amount and efficiency of loans; profitability analysis and dividend policy, which had been used to compile the company’s general performance index. Working in a multinational team, which included an American, a Norwegian and a Moldovan, strengthen my negotiations skills, as well as flexibility and cooperation. But above all, this experience intensified my passion for finance. Of course, a pleasant bonus was the fact that, in the end, our company’s financial performance was six times the performance of second-best team.