February 18th, 2013
Financial Advisor Articles
Find us on Facebook
Latest Articles from Be-a-Careers
Options to Get your Career Started as a Financial Advisor
The finance sector is a tough career to break into. Probably one of the toughest there are, due to the licensing rules, and regulations involved in the practice of financial services. In particular in the field of investments, as extra provisions will be required, such as adhering to the registration with the SEC, (Securities and Exchange Commission).
The toughest part to getting started is the fact that your first job is actually a sponsor. To become a financial advisor, you must pass your series 7 exam through FINRA, and that requires you to gain employment with an existing member of the organization.
You must have that to get your career started, so besides spending four years in a graduate degree course, you still essentially graduate unqualified.
You need your first job to sponsor you for your series 7 certification, before you begin to progress in your field.
To gain that sponsorship, and make it a bit easier to get started in the finance field…
These two options will help your career get off the ground
1) Approach Large Investment Companies
You can find a number of companies with this one search phrase online – “Registered Investment Advisors Database” Input that query to whichever search engine you prefer to use and you’ll be returned a list of databases with investment companies.
There’s no need to hang around for opportunities to be posted, as by that point every other graduate newly qualified will be after the same positions.
To get the best chance possible, you need the upper hand, and you do that by establishing the connections before everyone else.
Networking could even begin during your degree course, as that will set you in good stead for when you graduate. You could have an opening lined up to get started right away, with a sponsorship, saving you the hassle of job hunting, and employers the hassle of advertising.
The added advantage you have here, is that you’re able to show investment firms upfront that you understand the importance of connections.
Connections are fundamental to your career as a financial advisor, so the sooner you get started, the better your chances of success are.
The only requirement you must have when approaching larger investment companies are to remember to approach the company with enthusiasm. Showing your enthusiastic about your career, and that you have a passion for the work, with a focus on becoming a leading expert.
When you’re first getting started, your passion will get you hired. Investment firms know that they’re responsible for investing in your career by sponsoring your series 17 examination, and any other training they want to put their employees through. You just need to convince them that you’re the best candidate who deserves the investment, and don’t take the “wing it” approach and see what happens.
Focus your approach with a passion for delivering, and you’ll establish connections faster and more effectively than those who do not.
2) Go with the smaller finance firms and get yourself a mentor
This is an option that some newly qualified financial advisors often overlook, or simply turn to the smaller firms when they’ve drained their list of larger firms to apply to work with.
Smaller firms should be considered early on, as they have more advantages than simply gaining employment.
The main benefit to you is that you get the opportunity to work one on one beside an already professional in the finance sector.
That gives you an opportunity to get mentoring early on, and a firm grounding in everything involved in the job role.
The sooner you gain exposure to on-the-job training, the faster you get your career on track.
Larger firms give you the opportunity to fast track your career with intern programs and sponsorship, while the smaller of the finance companies give you the opportunity to gain a mentor early in your career.
You can either opt to go with one route based on what you would prefer to start your career. Fast results with a fast-paced investment group or paced results with up close and personal mentoring, ensuring you get the best success rate possible.
The choice is up to you to decide which route is most beneficial to how you’d prefer to get started. Or you can combine the two options to almost guarantee the best chance possible of landing employment – fresh out of university.