Financial Advisor Services

Should I study for the Series 6 and or 7 on my own, pursue a MBA, try to get into a companies training program? It seems very difficult to get your foot in the door in this field.

Any serious suggestions or advice from people currently in the field?

An MBA is definitely not necessary.

While a CFP is one route, and definitely a GOOD route, it isn't absolutely necessary either.

You will need your life insurance license and a series 7. (You might get by with a 6, but WHY? So you can have someone else talk to your clients about their stocks?)

To get in the door, you might call advisory companies, such as Lincoln Financial Advisors, Charles Schwab, etc, and talk to their recruiters. That kind of setting is actually the best place to start a financial planning practice, because of the support they offer.

Only go into this field if you enjoy talking with people on the phone. If you don't like the PHONE, do something else!

Good luck!

2007-07-16 07:36:15 by the real casual poster

ATB Investor Services is the weath management arm of ATB Financial, the largest financial institution based in Alberta. In this video, our own ...

If going through a financial advisor is a compulsion, can anyone suggest a good financial advisor company and what are the standard brokerage pattern?
this question is in context to united kingdom only..

If you have the inclination, check out Fidelity. I use them in the U S. They provide excellent service and will help you with your investments.

http://www.fidelity.co.uk/direct/

2006-12-06 23:02:55 by shiny

Price: $44.95

Do you find it is worth it to pay such high commissions as opposed to using an online broker such as Ameritrade?

there are full service brokers and there are financial advisors. They are two different entities. Brokers charge commissions on executed trades. Financial advisors charge commissions on assets under management.

I have used full service brokers. I have not used financial advisors although I have talked to them.

It is my opinion that one is better off managing his own investments in almost every case. Based on experience. Full service brokers will not bother with you if you have less than about $1,000,000 with them. You are not worth the trouble. The investment advisor I talked to wanted to put my money into front end load mutual funds for me. I may not be the smartest person in the world, but I am sure smarter than that.

Where many individual investors go wrong is in too much speculation and too much buying and selling. The key, I believe, is to buy sound stocks in sound companies and hold on to them until such time that they appear to no long be of sound quality or until the market over values them as happened in 1999.

2006-09-25 04:56:04 by Slick

Price: $34.95

I am considering employing the services of a Financial Advisor. What exactly do they do? Are they helping you budget? Improve your credit? Invest your dollars? What can I expect, as I need to make sure I get my money's worth!

Thanks!

The essence of Personal Financial Advising

So the answer you are looking for as you read this is "What specifically is http://personal-financial-advising.blogs pot.com/. This term means different things to different individuals and I'm here to inform you about what Personal Financial Advising is and how it can help you on your way to personal financial freedom.

The NAPFA defines Personal Financial Advising as situation where industry professionals help people to manage their money for both the the near future and long term by helping them in deciding which stocks, bonds, and mutual funds to invest in. This is an excellent definition of Personal Financial Advising in general terms but does explain everything.

Personal Financial Advising is needed when someone needs assistance in managing their money but does not have the time, knowledge, or resources to do it in the most effective way. When this happens a Personal Financial Advisor is needed.

The goal of a Personal Financial Advisor is to help their customers in attaining all of their financial goals. A Personal Financial Advisor should be involved in all areas of a customers financial situation beyond their day-to-day situations. In doing this one might be involved in helping customers invest for retirement, invest for a childs college, make the proper general investment choices, or even help with home loans (mortgages) or car loan advice.

When people uses a Personal Financial Advisor there is often a charge associated with the use of services. Often times though the charge is greatly outweighed by the financial gains one sees from the advice they receive.

In the end Personal Financial Advisors is just as they seem. They are simply advisors who give clients advice on how they should handle their finance so that their money works for them instead of them working forever because they don't have any money. When it comes down to it, it is ultimately the individuals decision on how they want their money to be handled. Personal Financial Advising is a great tool for anyone who wants to experience financial freedom but does not have the knowledge, time, or resources to do it on their own.

I hope this article has at least give you an idea of what Personal Financial Advising is. This article was very brief on the topic of Personal Financial Advising and a book could most certainly be written to explain it in full detail.

If you have any questions about what Personal Financial Advising please feel free to visit my newly started blog regarding it. I plan to post information about it, including advice, every couple days.
http://personal-financial-advising.blogs pot.com/

2008-04-05 21:46:35 by Nosy Posey

I have a bachelor's degree from Indiana University in Journalism. I have been working in customer service for manufacturing companies for the past year and a half. Should I go back to school for my MBA? Should I take an online course to become a CFP? Or should I look for an internship at a financial services company?

You don't even need a university degree at all to be a Financial Advisor, let alone an MBA. (Also hard to do an MBA if you don't have a BBA...can't do a Masters of Physics unless you ..y'know, took Physics)

Most Financial Advisor firms are hiring constantly, they usually do get you to train with them first at no pay and then send you out on your own.

It's a totally commision based business, and you train and work for them initially for free, so they'll pretty much hire anyone who doesn't seem like a total waste of time.

After that you've got to develop your own business, they'll give you a start on how, but its really up to you. Prepare for the idea of working a few years before building enough clients to make a profit.

The companies usually have active recruiters looking for a sales force, call the company you're interested in and ask them about it. You could also visit any job fair, I garauntee there will be no less than 5 Advisor companies present recruiting Agents.

I don't think it's a very good job, the vast majority do quit with losses in the first 2 years, but those who do become successful can make some money, but it's very work intensive and hours and inital investment are large.

'Breaking into the field' is kind of like saying you'd like to 'Break into door to door vacuum sales'..Just go tell them you want to, and unless you're retarded, you're in...in some cases, even if you are.

PS though, Do NOT work for WFG. They'll bind your hands with crazy compliance. Work for something with a big enough name that it can help you market yourself, Primerica, Investor's Group...something more like that.

Good luck if that's what you decide to do.

2007-07-25 14:28:27 by Christie B