I’m pursuing a career in personal financial planning, where do I start?
I have a BS in Business Administration, and now I’m enrolled in a Financial Planning professional development program, for which I will receive a certificate. Where do I start looking for a job to get experience if I haven’t received the certificate yet? Where should I look for work with no financial planning experience?
If you are just starting out, consider contacting larger financial companies- investment firms like Smith Barney, Merrill Lynch, etc. or insurance companies like MetLife, Pru or John Hancock.
These companies will train you, get you licensed (for securities and insurance) and help you start your career. You may find that you really enjoy working for a big company- there are some benefits- or you may find after a few years that you would like to be on your own. That’s what I did and have been successfully self-employed since I was 26 years old. (I’m 38 now.)
There is no shortage of companies hiring inexperienced people for financial planning. I would avoid it all together unless you plant to be a CFP and have your own business.
Financial planning/advising is great and rewarding, BUT if you do not bring in the money, you are GONE!!!! It’s much more about who you can smooze than what you know and what licenses you have. I would go with a bank (Wachovia or Bank of America) or Charles Schwab. All of those provide leads and referrals from bank account holders and call centers. Firms like Morgan Stanley, Smith Barney, etc… do not.