Day in the Life of a Financial Advisor - A PEEK 👀 Behind the Scenes
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- Опубликовано: 31 июл 2024
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How To Become a Financial Advisor - ULTIMATE Career Path Guide • How To Become a Financ...
Day in the Life of a Financial Advisor - A PEEK 👀 Behind the Scenes
• Day in the Life of a F...
Certified Financial Planner Career - What Does a CFP Do
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Website: jumpstartcoachinglab.com/welcome
Instagram: @DomHendersonSr
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You are the first advisor I’ve seen on RUclips that comes across as genuine, professional, intelligent and on the level. You simplify and explain everything so well. No snake oil! Great audience interaction 👏
I appreciate the love and thanks for watching!😀
This was EXTREMELY informative as I'm entering the financial services field this month. Best financial advisor advice on RUclips!!
Glad it was helpful!
Also check out: www.jumpstartcoachinglab.com/make-the-leap-registration
Dude. Insanely helpful. Thank you for your time! I never comment. But man, you deserved it. You’re much appreciated!
Simple. Genuine. Straight to the Point. Loved it
I’m so glad I found your channel. I want to switch from my corporate finance/ accounting role to financial planning. I can’t wait to binge watch your videos tomorrow!!
Congrats on 1000 Subscribers!. You also have alot of Great Advice! I am going to follow some of your models for success. Thanks for sharing! Your top Fan
Johnny Encinias Financial Freedom I appreciate it man!
Thanks for the video man. I'm in the middle of college pretty much and have been having a hard time figuring out what to study/what I think I want to work in. Financial advising sounds like something I'd enjoy working in. The planning part and getting to know the client and their situation appeals the most to me.
Keep up the study path. If your school has a financial planning major/minor you may look into that. You can check out the schools that have partner programs with the CFP Board at www.cfp.net.
This was really helpful, ty bro! I’m in the process of changing careers from academia to financial advisor and this is exactly what I needed. I know I need 2-4 years of apprenticeship before I can even dream of going independent. Thanks again! ✌️
Congratulations for your video, Dominique. Very nice showing the non-financial side of being a financial planner!
Rafael Nakahara 🙏🏽
I like everything you have to say man. Best advice I've got from anyone.
Thanks for saying so my friend!
As a sophomore in high school looking to become a financial advisor this was a really good explanation thank you for that.
Nice video!! Being a CFP® is a wonderful career! So many different ways to help people become great with money!
Very insightful - thank you.
Your channel is a breath of fresh air. Thank you so much for being so professional.
Thanks for watching💯
As a college graduate, I really appreciate your channel and can't wait to see your future videos. Subscribed !
Awesome! Thank you!
This may help also: www.jumpstartcoachinglab.com/make-the-leap-registration
Hello!
I just finished my first year in college with a major in Business Admin w/ a double concentration in Finance & Financial Planning. Graduating with a concentration in Financial Planning allows me to take the CFP exam as soon as I graduate if I want. I'm still trying to fully understand the job duties of a Financial Advisor and the different paths one can take. This video was definitely helpful and I'm looking forward to your future videos! Thanks!
😉 No problem!
Super helpful/informative. Thank you for sharing!
Thanks for watching! Hope to see you in a community orientation: www.jumpstartcoachinglab.com/links
Thank you for the guidance.
If you're a newer advisor and need help with sales, check out my upcoming masterclass:. www.jumpstartcoachinglab.com/masterclass
Thank you Dominique for this informative video! This gives me a better idea on to what I am getting myself into! I will keep in mind when working for clients, I will keep a watch for the type of philosophy that my clients have. Now I have a faith in myself and I shall put myself to the test and see what I can accomplish.
Great Jessica!
Great video. Very genuine and professional!
I appreciate it Marco!
I appreciate the details and depth of the content. It was very well organized. I’m in the industry pursuing to be a Licenses CFP.
I’ve been offering too many services, with my business, in recent past without a license. I wasn’t sure what path was a good fit for me till now.
I’m sure there’s still some work for me to do as far as education on my current state laws as well as know methods/strategies/best practices, however, I appreciate your insight. It steered me.
Thank U
No worries Namile. How did you enjoy the content series?
thank you for the advice
Thank you for sharing your experience in such great detail.
You’re welcome. Thanks for watching
Here from Andy Andrews' Professional Noticer Podcast :) You come across so genuine
Thanks Fiso!🙏🏽
Just found your video today. It was super informative. I'm happy to see a black CFP, since there arent many out there. I'm graduating in December and I truly enjoy talking and learning about finance. I currently have a small financial coaching business where I help college students create a budget and set financial goals. Is that something I should list on my resume? How did you handle applying for entry level jobs when the job description asks for 2+ years of experience?
Nice to see you in the community and thanks for watching!
Great questions and what I would say is that "relevant" job experience is what I would list on my resume.
I got lucky by entering a hot job market back in 1998 and they were looking for entry-level candidates. I think you may find it difficult to have what you're doing now be the "experience" that employers are requiring.
Stay connected and build your network. For example, send me a connection request on LinkedIn so you can widen your network 😀
I hope that helps!
Thank you so much, this was very helpful. I was contacted recent regarding a job offer and I wasn't sure because I've never done anything that wasn't a hrly wage, put of fear I guess that I wouldn't succeed.
Now I feel confident to step out there and put my skills to the test and see what other financial potential I can accomplish.
I'm happy I could help!
Super informative video. I really appreciate it. I'm gonna be graduating from college next month and will be diving into the field. This was very helpful.
EmbraceThePace no problem. Thanks for the thoughtful comments. Feel free to send me a connection request on LinkedIn just in case you want to share networks.
@@DominiqueHendersonCFP Just sent you a request. I appreciate it!
Always great to see CFP’s of color. I truly appreciated this video. Thanks!!
Contemplating a career change. Thank you for your content.
Hope to see in the community facebook.com/groups/beingafinancialprofessional/
the most helpful video ive found during my research. thank you for the advice! I also have a video request/recommendation. A video on the differences between financial coaching vs financial advising/planning. I would imagine that lots of career switchers are confused like i am as to which is a better path.
Thanks for the suggestion. (and for watching).
There are a couple of videos I've done already. (In particular Financial Advisor vs. FInancial Planner vs. Wealth Manager - Is there a difference? AND Financial COACH vs Financial PLANNER ft. Dr. Mary Bell Carlson)
If that doesn't help, please join us for a Jumpstart community orientation: www.jumpstartcoachinglab.com/links
Damn! You gave a Rick Flair at the end.....WOO!!!!
The Nature Boy! LOL
so interesting and very informative
Thanks Nana! Happy to have you a part of the tribe :-)
Hey Dominique! This video was a diamond to find! Lots of great points and value from your insight. What are some of the more concrete steps to becoming a reputable financial advisor?
Thanks for watching Skyler!
In a word...mentorship. In another...patience. It is a difficult business to navigate without guidance.
I’d recommend downloading this guide: djh-capital.com/jumpstart-career-guide/ to learn more.
It would be a great to see a day in the life of your consulting company
Watched your video. Very helpful. I'm interested in this industry.
Check out jumpstartcoachinglab.com
This is the second time I watched this video. I got enough to wet my beak. I imagine trying to capture all facets in any degree of depth could have led to an entire playlist. I appreciate the time you took to put this together. I’m at a point where I honestly know that this is a career path that interests me. However, determining the particular approach that would be the best fit for my skills, personality, and temperament is something I have to figure out, while trying to balance the uncertainty of navigating the waters of a career change. Basically, can I afford to do this AND pay the bills at the same time? Lots of things to consider here.
Sign up for the make the leap challenge and find out: www.jumpstartcoachinglab.com/make-the-leap-challenge
Hey! You're doing a great job! I too want to become a financial advisor, but what made you want to become a financial advisor?
Kenzie thanks for the compliment. Here's your answer: ruclips.net/video/O_n0PIGRR0Y/видео.html
Great video! Thank you for sharing!
Thanks for watching!
3Are you in the community? www.jumpstartcoachinglab.com/community-resources
Yes I am! I just started working with my Dad at his agency.
I meant the Jumpstart FB group (LOL)
im 41 and Ive been offered free college from work, all virtual. And I'm choosing to major in finance....I just subscribed
Active duty military sailor . Almost done with by B.S in Finance . Really want to get into this field
Would love to have you in the community. Check out this page: djh-capital.com/aspiring-financial-professionals/.
I came here to gain insight into "what my financial planner does" in order to protect and grow my portfolio. What is it he or she is looking at to "quarterback" the account. I consulted with a local CFA, but when I added up his annual fees, it totaled about 6.5% annually ($650 per $10,000 invested) which I personally felt was exorbitant. So, I'm electing to utilize my investments holding corporation internal advisors at a fraction of the APR. But, nice video. Thank you.
Glad you liked it.
Great video. I am thinking of doing this as a side hustle. I have not found a lot of content on the minimum education necessary to get in to the industry. I would like to keep my day job and meet with a few peers that need advise on growing net worth(FEE ONLY). I am a new SUB!
Edward thanks for subscribing!
In the US, receiving payment for giving investment advice is regulated and thus requires some type of licensure/registration.
You can either:
1) be sponsored by a broker dealer and they will have to approve any work you do while you are under their sponsorship.
2) set up your own RIA. It may take longer but is worth it as it will allow you to practice on your own terms full or part time.
I hope that helps😄
@@DominiqueHendersonCFP hi I'm very interested in joining the cfp community. do have any contact info I would really love to get in touch with you.
@@hezekiahholt15 I'd poke around on cfp.net. There's a link to "Become a CFP professional" that has some good info. Search my channel for "CFP" or "Financial Advisor". I've done a ton as far as an "inside" look for the profession. Still hungry for info, shoot me an email at info@djh-capital.com.
Thanks for watching!😉
Hey dominique. Started listening to your channel from few weeks. I am 47 and i have spent over 223 years in IT and been bit with CFP bug. A lot of what i do is very analytical and optimal decision making and this is what attracted me to becoming CFP. I was thinking of passing the certification and work for a firm to get the experience part and semi retire and become an independent financial advisor. What kind of advice do you have for someone like me who is aspiring this career at this stage of my life? Appreciate your response. Love your show.
I think you would benefit from the Jumpstart community greatly. Would love to have you join and then set up a meeting with our Director of Community Development (Dennis McCarson). jumpstart.mn.co/
This video really helped me consider the career! I am an accountant at the moment and I'm looking to get more fulfillment out of my career. I thought financial advising would be a great lateral but how are the hours? Is there a lot of overtime in your job? Do you get adequate benefits like PTO and health insurance?
Appreciate the video!
Hi Paige! Thanks for the comment. I think it really depends on the route you decide. Being an entrepreneur I set my own hours, whereas if you work for someone it will be dependent on their processes and service model. I'd say keep researching to see if this is what you want to do...there are a lot of facets within the industry to choose from.
Hey D, great content!! I’m an advisor myself, what ways do you prospect? I’ve been cold prospecting as I go and recently got into cold calling, mostly been building through referrals but wanted to speed up the process! Thanks in advance brother!
Jose...ain't going to lie it can be tough. Prospecting is about being genuine and patience😀. No shortcuts my friend. Maybe you can target a certain type of person you'd like to work with specifically (i.e. middle managers with 5-10 years experience at XYZ company specializing in analyzing the benefits). Being more specific always helps.
dude im about to binge your entire library.
It might take you a while😁
@@DominiqueHendersonCFP i gots time.
Hey Dominique, quick question. So when you help one of your clients with their investment portfolios (stocks, mutual funds, bonds, etc.), are they executing those investments at a brokerage separate from your business? Just curious as to how that part works for independent advisors, as they are not working at a broker-dealer firm. Thanks
I have discretion on all my clients accounts, so I make all the investment changes.
Hi,
I’m a student majoring in Finance and I’m currently looking towards obtaining the experience requirement for the cfp.
Can you share how you obtained your cfp emphasizing on how you fulfilled the experience requirement? I would greatly appreciate it! :)
Hi Sarona!
I've mentioned my story a lot on this channel. Check out my free community on Facebook to learn more. www.jumpstartcoachinglab.com/happy-300
I’m a new subscriber. What do you think of Dave Ramsey’s financial advice? Who is your favorite financial planner?
I don't have an opinion on DR. No faves
Hi, I love the explanation. I know this may sound ridiculous but do you think working at a State Farm is a good start? I would like to be a financial advisor and don’t know where to start. The other thing is I would seem myself as a rainmaker as I do believe one of my strengths is assessing needs and finding possible products to address them. Any help would be appreciated.
Any experience is a good start. Learn what you can and keep grinding💯
Thanks Dominique. I am a CPA with an MBA in Finance, and have been in the corporate world doing SEC Reporting, Internal Audit and Treasury work for 15 years. I'm looking to transition to my own firm, and offer financial planning to my services. This has helped me think about what I need to do to get there.....which doesn't seem easy. I'm planning to take the CFP exam, but my major worry is the experience requirement. I did some financial counseling in regards to loans and accounts with clients at a bank prior to my life as a CPA. Would any of this count towards experience? What would you suggest for someone who is planning on a career transition?
Hey Carol!
Thanks for the comments.
1. You can do a experience "challenge" after you register with the cfp board at cfp.net
2. Find a mentor and a community to continue to grow.
I'd love to have you in Jumpstart.
djh-capital.com/jumpstart
Dominique Henderson , thank you! I have requested to join Jumpstart.. Excited to see what material is in there.
ruclips.net/video/OTv5LhD35zM/видео.html
Hi Dominique, could you please provide me with a few beginner resources that helped you throughout your journey? I do not have any educational background in finance, as I took the health career route option. However, I'm currently looking into courses that allow me to take the CFP exam, as well as the enrolled agent exam. Lastly, do you have any advice for someone who is thinking about going into the world of finance?
Hi Diane!
First off thanks for watching the channel and welcome to the community.
Let me give you some "food for thought" 😀:
1. This journey will have many twists and turns, so just embrace it. You may also consider watching the video (ruclips.net/video/NQouKGKjlzA/видео.html) I did with Ash Exantus. Perfect example of how you don't have to have a degree to be successful in this industry.
2. Depending on how you want to help people either the CFP or EA (both great designations) may be overkill. If you don't plan to give investment advice to individuals you may choose a less "regulated" route. Don't get me wrong, I'd love to see more women CFPs but this really depends on what you want to do as a financial professional.
3. Finally, I'd recommend downloading my 10 Tips to Jumpstart Your Career guide as it has what I believe all aspiring financial professionals need to be doing right now to help themselves break into the industry. djh-capital.com/jumpstart-career-guide
Again thanks for watching!
I’m currently a Sophomore at Montclair State University, my major is Business Administration with a Concentration in Finance. Do you think transferring to a more well know school such as Rutgers will be worth it? I’m worried I’ll have trouble getting an entry level job when I graduate because my school isn’t very well known. My plan is to start at a well known firm and then become independent once I gain some confidence and clients. I’d like to become independent right out of college, but I don’t wanna rush into it... I’d rather learn from my mistakes in a firm first. Any advice on what I can start doing now to get closer to becoming a successful independent financial planner in the future? (Maybe internships, adding a minor, studying for exams etc.) I‘m minoring in Economics right now but I’m not sure how relevant that is to this field, unfortunately my school doesn’t offer a Financial Planning concentration. Any advice is greatly appreciated, this is the best video I’ve found on this topic. Thanks.
One more thing, I’m considering getting my bachelor’s from Montclair State and then getting my master’s from Rutgers. Do you think getting my master’s is worth it? Sorry for all the questions, I’m very interested in this field and wanna make sure I take the right steps so I’ll be able to secure my dream job.
Hey Shaun thanks for taking the time to watch and comment. Really appreciate it! 😀
1. School pedigree is not as big a deal as it used to be. We live in a "skills" economy so I recommend focusing on internships or work experience in your chosen field.
2. Find a mentor in your chosen field. Don't know where to look? Look among your professors and their networks. Also, create a LinkedIn profile and connect with people like me that are already in the industry.😉
3. If you decide you want to ultimately work with clients as a financial advisor/planner, research the various certifications that will provide you with relevant training. Ultimately you will be selling your personal brand, but there's no harm in becoming a specialist. I highly recommend the CFP certification (www.cfp.net) because it exposes you to every element of financial planning.
4. Most financial professionals will receive far more training than actually necessary to serve clients well. IMO, graduate school is more a choice vs. requirement. I pursued my graduate degree only after I could afford to pay for the degree with cash (vs. loans). By that time I had been in the industry for almost 15 years.
Enjoy your journey. It is likely to be filled with both ups and downs, but it is what you make of it that actually makes it your "dream" fulfilled.
Dominique Henderson Appreciate the advice, I’ll definitely connect with you on LinkedIn.
I am a small business owner who loves small business. I will probably always have small businesses. But I really want to educate and teach underserved communities on estate planning, life insurance, and homeownership. I'm torn between pursuing an MBA or CFP degrees. I have enough GI BILL to cover all of the CFP or most of the MBA. What else should I consider to help narrow down my decision?
This video should help: “CFP vs CFA vs. ChFC vs. MBA - Which should you choose?”
ruclips.net/video/h4EvxcIBbTk/видео.html
When you say dealer-broker, would you say that applies to products like Chase Private Client?
Yes. JP Morgan Chase is one of the bigger broker-dealers out there.
@@DominiqueHendersonCFP thank you for answering! So in your opinion, would that not be somebody to use?
Tyler Bruce they are one of many. Join the community and I can send some info: jumpstart.djh-capital.com/f/10
Hey D, I have 2 basic questions about this career field. I’m a senior in high school. Could you answer them for me?
Thanks for watching Aden!
Actually there is a Q&A period during our Jumpstart Community Orientation. You can register here: www.jumpstartcoachinglab.com/links
Are there any books that you could recommend for people to read who are considering cfp as a career?
ruclips.net/video/_LBrO3KpT7s/видео.html. Read hers
Hi Dominique, really helpful content. I'm preparing myself to undertake a career change and become a CFP. Question regarding the experience requirement: I see that pro bono financial planning work can count toward it. What are examples of qualifying pro bono work? And does any and all experience have to be supervised by or done through another financial planning professional? Or can I help people through a nonprofit for example? (I.e. residents of affordable housing that is operated by the nonprofit I work for. We have a financial health program.) Thank you for your time and insight!
Check here so you can make sure you hours count ! www.cfp.net/career-and-growth/get-involved/pro-bono-reporting. Typically yes it needs to be supervised. Be sure to subscribe over to the blog also for more helpful tips. www.domhendersonsr.com/blog
Thanks for watching Tiphaine. 😀
@@DominiqueHendersonCFP thank you so much for your response
would you recommend getting a college degree? or just get licensed ? I know experience is essential along with hard work, but I hear some people say college is essential and some say it isn't. Would like to hear your point of view?
Roosevelt- both can help so I recommend both for those practicing in the US. I also recommend choosing a path where your education and experience choices compliment each other as this will be how you can truly help your clients. Great question😉
yo hello, I see that you reply to alot of comments so i thought why not give it a shot! i have a question thats built upon the basis of your knowledge, and its that why not persue certain investments yourself and can that become a source of passive income. Thanks :)
I think you should do what makes you happy. Some may not want/need to work with a financial professional.
Love your content but as a Canadian I’m finding it hard to learn about Canadian financial advisors and financial planners as a career and what is in Canada 🇨🇦
You might need a coach😉
Are you able to do both? Just curious
would do you mean?
Hi my name is Sudheer now I am studying 12th standard, should I choose CFP as a career
ruclips.net/p/PLsmA3G2nZT9JPszpRpmhU0Z5w6tyFNZfr
Very insightful and you articulate yourself in a manner in which I found very relatable, it's no surprise you seem to be doing so well.
I am a currently a college student but I am also currently working to pass the SIE will this help me break into the industry before graduating?
I'd definitely recommend attending my free webinar. I have a deeply discounted A to Z training after you register that breaks that process down. www.jumpstartcoachinglab.com/
Hi, just found your channel. Nice! I'm an African American financial advisor in Cincinnati. I'm new to the industry, just passed the series 7 & 66 exams. The biggest problem that I'm finding is it's hard to find a mentor. I work for a large firm that only deals with high net worth clients and unfortunately I'm the only licensed black guy in the office and I'm new lol.
Glad to have you in the community. Feel free to check out the group I have on Facebook. djh-capital.com/aspiring-financial-professionals/
I would enjoy to just help people manage their money better and get out of debt, and teach them how continue to be financially stable and productive. Is there anyway to only do that?
If you give investment advice it requires regulation which means licensing. Perhaps you mean just financial coaching?
I've got a training coming up this weekend that covers all of that: www.eventbrite.com/o/jumpstart-coaching-lab-30004477342
can i do this as a side gig? for example i work as a software engineer and want to manage money for clients on the side.
All "outside business activities" (e.g. OBAs) must be disclosed on your FORM ADV when you register with SEC or a state to provide financial advice. When you submit your initial ADV your regulator may or may not allow you to based on that state and your "primary" line of work. You should definitely seek the advice of a business attorney that specializes in firm registration. I have a few in my network if you send me a LinkedIn request and mention your question. Thanks for watching!
Could I become a financial advisor without a degree?
In short, yes although I feel very strongly that if you want to do comprehensive financial planning work you'll need to be trained.
If i need to ask you more in depth questions about this job to ask you, do you have an email to reach you please and what is it please?
www.jumpstartcoachinglab.com/jumpstart-programs
As a new entrant to the profession, I felt attacked by that prospecting comment.
Don't. Some positions involve business development and others don't. It depends on what's right for you.😉
interesting but could have been simplified.
which part?