By: Harry Campbell
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-18883">Colby</a>.
Yea if you actually like helping people, NW Mutual is not the answer haha. Sounds like you've got the perfect situation going for you though. I still like helping people with their investments but I've kind of moved away from it as a career choice. There's a lot you can do online with a blog/media to get the word across without having to work your way up...
By: Colby
Great article Harry! I also want to get into the financial planning field. I was very hesitant to go with a large firm for the same reasons you listed. Northwestern Mutual instantly turned me off when a rep came into my international finance class at school with two "secretaries" that were gorgeous in mini skirts sat in the front for no reason and he wore a pin stripped suit with a french cuffs and tons of gaudy jewelry from head to toe. He single handedly made me second guess my career choice. My brother works for a very small firm and sells whatever products he deems suitable for his clients. I passed my series 7 and just need to get my 66 and i start to work under him. Having a personal mentor to help guide me in my earlier years will be great. It's really scary, but working with a family member and unlimited support from a small firm is just the right fit for me.
By: Harry Campbell
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-12607">Brent Esplin</a>.
Wow that's so funny that you mention the Garrett Planning Network since I spoke with a CFP today who also recommended I check them out. They sound a lot like what I'm looking for though.
After doing a ton of research, I've pretty much decided that if I do make the switch, I'm going to get my CFP and either start on my own or do an apprentinceship-type program with a small firm or someone willing to take me under their wing. Now I just need to work out all the timelines and details...would love to chat more offline with you if you're interested, let me know.
By: Brent Esplin
I have also looked into a career as a financial planner and come to the conclusion that I couldn't work for someone else. In most cases you are just a salesman and there is a huge conflict of interest between you making money and giving the best advice to your client. If I ever did make the jump I would probably start my own business as a "fee-only" financial advisor. You don't sell anything so you are free to offer the best advice to your clients. The problem is I am not sure how much you can make doing this. There is a network of fee-only advisors called The Garrett Planning Network that could help you get started. Their website is www.garrettplanningnetwork.com. They seem to have a really good reputation and I think if I did it I would work with them. You should take a look.
By: Jon@2-copper-coins.com
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-12350">Harry Campbell</a>.
That seems like it would be the best way to go. He had almost gotten a job with a small firm, and that would have been an ideal situation. The apprentice idea also sounds like it has potential. Good luck.
By: Harry Campbell
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-12347">Jon@2-copper-coins.com</a>.
Interesting, after talking with some financial advisors over the past couple days it sounds like the big guys are all like that. You're basically a salesmen pushing their crappy and expensive products.
I think I'm definitely going to give it a shot down the road but I'll probably have to partner up with someone or start at a small firm. I don't want to be a FA bad enough to start at the bottom and work my way up. I'm really hoping that I can meet someone in the industry who has some good contacts and show them what I've been doing online and intrigue them that way. Maybe they'd consider taking me on in an apprentice type role.
By: Jon@2-copper-coins.com
I have a very close friend who is working for one of their competitors and he has experienced the same things you described. He immediately got to work contacting his family and friends trying to sell them life insurance, which he hates. I think this is one of the reasons why even though working in finance intrigues me, I don't know that I am willing to do what ti takes to get into it. Do you think you will give it another shot somewhere down the road?
By: Harry Campbell
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-12149">dojo</a>.
Yea that's a good point. People change careers all the time. I think I saw a statistic that said some very high number of people end up working in fields completely unrelated to their college major.
By: Harry Campbell
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-12145">Laura @ Richmond Savers</a>.
Yea I completely agree: the big firms are all about making money and that's never best for client's interests. I'm not sure if it's possible to become an FA on your own but it's something I might look into. Ultimately, I'd like to use my blog or online activities to turn readers into clients or something along those lines.
By: Harry Campbell
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-12113">Financial Samurai</a>.
Interesting, I'll be curious to read it and see if he went through a big/small firm. To be honest, going with NW Mutual seemed like it would not be very fun for a lot of reasons.
I know that I'd like the end result of being an FA, but I'm not looking forward to all the grunt work at the beginning.
By: Harry Campbell
In reply to <a href="https://yourpfpro.com/ready-career-financial-planning/#comment-12109">writing2reality</a>.
Yea I'm thinking a tiered system would be best. That way you can help everyone out and if you do land a few big clients you can charge them more and provide more of a full service/hand-holding role.
By: dojo
I studied for 9 years to become a teacher, worked for 10 as a radio DJ and am a web designer now. Who knows what tomorrow will bring? Keep your mind open and accept any good options. You never know where your passion will bring you :)