Financial Service Advisor

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

Academic Advisors financial service advisors high school guidence counselors they all have different roles This is a QUICK video to try and ...

Try Allstate Insurance. They're looking

2006-03-27 16:25:07 by Allegria

Price: $30.00

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

Price: $29.95

I do not want to generalize about the competency of bank representatives as advisors so I will just provide you with some questions to ask

What are your licenses?
What is your overall investment experience?
What is your mutual fund experience?
What is your educational background?
Do you have any specific investment designations?
How often will I be able speak with you?
How often will I be able to meet with you?
Do you have a criminal record?

I hope this helps.

Michael A. Weiss, CFA
The Editor
The Mutual Fund Investor
http://www.mutualfundinvestor.net

2007-09-20 10:52:58 by sanjayde

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