Working As An Investment Advisor
posted in Bricks and Mortar Business |In 2006, there were 320,000 available investment advisor career opportunities in the U.S., according to the Bureau of Labor Statistics. More than half of these jobs were in securities, commodities and financial investments. Additionally, 1 in 5 people worked at commercial banks, credit unions and savings institutions; and 1 in 6 were self-employed independent financial advisors. Although these jobs can be found anywhere in the country, 1 in 10 jobs were based in New York City, on or near Wall Street. Before getting their jobs, most obtained their bachelor’s degree in business, economics, finance or accounting and interned first.
Here is an idea of a typical day for investment advisors. They will begin work around 8:30 am, which entails spending some time checking voicemail, emails and returning phone calls. Online, they will review closed loan and mortgage rates and consider a few possible solicitations. At 9:30, they’ll be on their second cup of coffee as the first client steps in. The customer’s portfolio will be reviewed and the client will be given stock information, financial guidance and loan repayment advice. An hour later, they’ll enter information into the customer contact system. Lunch is at 12:30 and at 1:30 there is a meeting with another customer who is looking at maximizing retirement contributions. At 2:15, they’ll set up more appointments from the marketing department’s lead list and follow up on mortgages. At 3:45, another client wants to do something with the hundreds of thousands sitting in his checking account. At 4:30, a meeting with management to discuss the day’s transactions and prepare for tomorrow’s customers. It’s all in a day’s work for a financial advisor.
There are many types of investment advisor niches. Some are investment banker sales agents who find businesses wishing to expand and help underwrite them. They sell advisory services to help companies issue stocks or bonds and also sell securities to other investors. It’s a big step for companies to first invest in the public arena with an Initial Public Offering, but this is what helps the business world go round. Another key service from this group is assistance with mergers and acquisitions. The advisor helps find buyers and executes the agreement.
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