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Career Story: Private Financial Advisor

Private Financial Advisor

Job Title: Financial Advisor

Type of Company: My company provides financial services to individuals and business owners.

Education: BA, English, UMass-Boston •• MBA, Babson College

Previous Experience: I own my own financial advisory practice, but before I split off on my own I had 20 years of high tech experience.

Job Tasks: I meet with business owners and families to go over all the financial issues in their lives: retirement planning, college planning, savings for important things like houses or cars. I may use products like life insurance or mutual funds or college saving plans to help clients meet their goals. I don't do a lot of stock trading but mainly place clients money in places we agree upon. Most of my day is spent on the phone or meeting with clients at their place of business or their homes. Meetings usually last about an hour or more and generally there are two to three meetings before a prospect becomes a client. Thereafter I meet with them once or twice a year to review the financial plan and see what may have changed in their life. It is not unusual for me to have several generations of a family as clients. I may have the grandmother, the adult children, and then their children as clients. I also spend a good deal of time taking continuing training, some of which is required for me to keep my licenses. I am registered with the state and the federal governments.

Best and Worst Parts of the Job: The best part of my work is feeling like I've helped someone solve a problem or address an issue that has been bothering them for sometime.

The worst part of the job is having paperwork get lost. It is also difficult keeping up with all the regulations and training requirements. There are many do's and don't's that can cause trouble if you don't follow the rules.

Job Tips: Start early. Have another part-time job that will help you generate income so that you can do mostly fee-based work and slowly build yourself a paycheck. Be ethical. Take all the tests for licenses early so that you have the most options of how you work.

Popular Schools offering Financial Planning Programs

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The Forbes School of Business® combines the power and flexibility of online learning with high-quality, topical Forbes content.

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  • Programs: MBA - Master of Business Administration - Finance
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Study online with University of Maryland at College Park.

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Utica College
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Founded in 1946 and located in the heart of central New York, Utica College is a regionally accredited, independent, private institution that features many of the advantages of a large university — such as undergraduate and graduate degree options, excellent academics, and outstanding faculty — with the intimacy and high degree of personal attention more closely associated with smaller private institutions.

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Earn your graduate degree online with Northcentral University.

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California College San Diego
National City, San Diego, San Marcos

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  • Programs: Business Management & Accounting (AAS), Accounting (BS)
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