I am beginning to question this career path as an Financial Advisor. What I am sure is that I want to get sponsored for my licenses and my MBA. Apparently, you can't even take the Series 6 exam without a company sponsoring you.
Originally, I thought "Financial Analyst" was a glamarous title. Their job description is so technical. However, after some research, it seems like "Financial Advisor" is the better job that has the same compensation. Apparently, it is one of the top rated careers. It was ranked first a few years ago, and in 2006, it fell to 3rd place. In general, the job outlook is excellent. Job openings are increasing above average. Additionally, with the baby boomers and longer life expectancy, the need for financial advisors is increasing.
4 out of 10 financial advisors are self employed. Think of them as law consultants, but finance. Many Financial Advisors teach adult classes at night. This is their way to gain customer base. On the other hand, Financial Advisor retirees become professors as well.
To become a Certified Financial Planner (CFP), there is an approximate of $500 exam fee, a 10-hour exam, and 3 years of experience as a Financial Planner or Financial Advisor. To become a Financial Advisor, I'll need my 2-3 years of experience as a sales assistant.
Financial Advisor works 9-5 pm. Unlike Investment Analysts (who work 60-70 hours a week), Financial Analysts (who work overtime at night for research), etc.
The only down side is the "stress" that comes with any sales position. You'd need to sell products, services, and convince others to give you their 6-figure salary to manage. According to one of the advices I read, you shouldn't seek for a Financial Advisor unless you make a 6-digit salary.
As Rob puts it, as a Financial Advisor, you make the rich get richer. Heh. At least, I will be able to make me richer, too~
