Goal Based Financial Advisor

Financial advisors help people create a diversified portfolio based on their client's age, assets, risk tolerance, and retirement goals. Should they also try to predict such factors as the long term (1 year out and farther) interest rates, stock market performance, bubbles (such as Housing and the Nasdaq), etc., or should they instead try to create a portfolio without any such assumpstion?
PS You spam me -> I Report Abuse. That's the way I roll...

Hehe, judging by what I've seen of your answers, tough to teach anything to you, but here goes. A financial advisor has no ability to predict whats going to go up or down, he can merely get you into the greatest number of asset classes to diversify away market risk.

He should always make sure he advises you against catastrophic events- through life insurance, health insurance, disability, etc. Every client is different, and investments should be based on a slew of factors-investment objectives being determined ultimately by the indvidual- he should educate you on the options available to you. Predicting future events is tough- we may see enormous deficit spending now- but who can calculate the 45% chance of inflation, 37% chance of deflation, a terrorist attack in Pakistan, China decides it has to slow its exports, allow its currency to strengthen, stop buying US debt, interest rates are froced to rise and so forth? There are too many possibilities, even the statisitical experts can only point to probabilities, and they all point in different directions anyway. An ideal portfolio is the one that best suits the client, which the client picks, based on the information the advisor presents to them- a knowledge of tax regulations affecting accounts is important, but trying to guess the market is unethical when dealing with people who cannot tolerate risk.

2009-04-19 15:10:02 by Buy the Numbers

You are a financial adviser and have been employed to write a report recommending a financial plan for your clients (the Wellington family). This plan will be based on their current financial circumstances, and you will need to justify your advice.

Income :
Ben - aged 42 net monthly $6200
Prue- Age 39 net monthly $1100

Assets:
House $680 000 market value
Joint bank savings account $12500
Bens supperannuation $85000 currently invested in a cash fund.
Prue's super : nil.
Ben's redundancy payout from previous job $58000
Other investments: nil.

Liabilites:
Outstanding 4.75% variable rate mortagage $180 000
Credit Card balance (interest rate 17.5% pa.) $4400
Cost of necessary home repairs $4000
Cost of upgrading car: $5000

CHILDREN GOALS:
Luke, 17, is completing high school and hopes to commence work as an apprentice electrician next year.
Brook is age 15 and wants to study drama at university after completing high school in 2 years.

BEN AND PRUE'S GOALS:
Ben intends to continue working fulltime for the next 20 years and is in hurry to pay out the mortgage early. Similarly, Prue intends to continue working part time. They both agree they want to build up savings for their retirement in the most tax effective manner and to make better use of long term investments such as shares..

THIS IS REALLY CONFUSING ME?!?
I NEED HELP!!
AND ADVISE WILL BE GREATLY APPRECIATED.

They are not giving you any guidance here. You need to find out what the savings rate is. I will assume 10% or about $700 a month. I would put it in the deferred savings plan and get it vested in the market. I would maximize the previous super and top load Ben since he is older. After he is maximized I would max out Prue. I see a glaring life insurance need, about $800k for Ben and about $250 for Prue. 20 year term should do the trick. It is very vague, but that is how I would do it in real life.

2009-08-30 00:28:33 by Seb

Okay...so I have read a lot about this company ....heard some good and heard some bad. For an easy ten points, who can give me the most amount of info about this company???

I am not looking into making 6-7 figures though,it would be nice. My realistic goal would be to make between 50- 70,000 yearly. I live in the San Bernardino County and thought about taking this job but am unsure about it.

I am not afraid of long hours as I used to work 10-12 hour days with the State of AZ but I want to be able to see it in my check. I used to make 41,000 with the state ( even thought about going back due to the great health benefits) but was wondering if I can get the same w/ Amerprise???

Honestly, I have never sold before, I haven't done any sales what so ever. My jobs have mostly been civil jobs and it is mostly because it is my strong point. I like to talk but would never imagine being a sales person.


I am not saying it can't be done but am worried about my performance. I hear they train you and sometimes pay for your 7/63 - I will only do it if they pay for it.


Please anyone out there who is working ( has worked) or knows of someone who has worked for this company, please give me the low down. The location site is based out of Corona , CA.

What can I expect?.............. From POINT A to POINT B?
The good ,the bad and the ugly.......

Do Financial Advisors make a good living with the economy the way it is? 50 -70,000

LIke I said 10 easy point for the best, most detailed answer I get...!!!!!!PROMISE

FYI: any RUDE A** REMARKS WILL BE REPORTED....SO PLEASE REFRAIN...LET'S ALL BE ADULTS HERE...

Thanks a million =)

I am a recruiting Coordinator for Ameriprise Financial in Sacramento, CA. I will go through the entire process from the initial career overview until you are appointed.

First, you will attend a career overview where they will go over the role and give you the information regarding being a financial advisor. If you decide that you want to continue on in the hiring process, you will take an assessment test that will last about 30 mins to 1 hour. If you pass then you will be invited to come in for a 2nd interview and conduct a call simulation (role play on the phone). If you do well with those then you will go into a final interview and then a decision will be made if you are a fit or not and receive an offer.

Once you are offered and you accept, you will be schedule to complete your paperwork to go into sponsorship. You will pay for your licensing up front but when you complete all your licensing and then hired on you will receive a hiring bonus to reimburse you. The total amount is around $1500 but not paid all at once. You only pay $500-$600 initially. At this point, you will be placed in the sponsorship program that will last for 14 weeks or 120 days depending on how fast you complete your licensing. During this time you will come in and meet with management to work on your natual market list and potiential client list. During sponsorship, you will not be paid because you are not working for the company yet. Once you have completed your licenses then you will be pre-appointed into the position and you will start your initial 10 week training period in which you are paid a training pay and all commissions and bonuses earned are held until the end of the training period. During this time you will be required to train on the products, scripts, and etc of Ameriprise and you will also be required to acquire a certain amount of clients. Once you have completed this 10 weeks and suceed each checkpoint, then you will be appointed and will continue your training for 2 years and will start your draw, commission pay.

Hopefully this helps you out.

2008-09-22 23:57:39 by Savannah35AZ

I was just wondering how people would view my cousin's current progression in life. He is 22 years old and living in southern California. He is attending his last semester at Cal State Fullerton as a Business Administration major, concentrating in Marketing. He has a current internship at Morgan Stanley as a Marketing intern, and has been there for about a year and a half. His goal is to graduate and work full time there as a financial advisor. The job salary will provide 50 to 55K salary, plus commission based on your work. As his cousin, I am the same age and just wanted to know how his current status is viewed upon others who meet him. Is he doing well right now, mediocre, or could he do better?

i think he is doing very well right now. much better than most.

2009-01-25 21:47:28 by Alex C

I was just wondering how people would view my cousin's current progression in life. He is 22 years old and living in southern California. He is attending his last semester at Cal State Fullerton as a Business Administration major, concentrating in Marketing. He has a current internship at Morgan Stanley as a Marketing intern, and has been there for about a year and a half. His goal is to graduate and work full time there as a financial advisor. The job salary will provide 50 to 55K salary, plus commission based on your work. As his cousin, I am the same age and just wanted to know how his current status is viewed upon others who meet him. Is he doing well right now, mediocre, or could he do better?

He's doing great considering I'm 22 and I'm unemployed. As long he has a job after college, I call that success. But really, it doesn't matter how he's doing, it's what you're doing. Don't worry about him, worry about yourself, if you are struggling like me, just keep on trying, and if you are doing better than him, just be thankful.

2009-01-25 20:49:16 by Alex C