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You probably think a lot about how you can achieve your financial objectives. But have you ever thought about helping other people achieve their goals?
If not, perhaps you should. You might find that a career as an investment representative is highly profitable, both to yourself and to the people you would serve.
A growing field…and a growing market
If you decide to become an investment representative, you will be joining one of the fastest growing industries in the country, according to the U.S. Department of Labor.
At the same time, the need for financial advice appears to be greater than ever. The enormous "baby boom" generation (those born between 1946 and 1964) will be retiring over the next few decades. Consequently, you will find a huge market of people needing professional advice on how to accumulate enough assets for a comfortable retirement - and how to manage these assets when they do retire.
Characteristics of Successful Investment Representatives
If you are already working in another profession, you may think it's too late to switch careers and become an investment representative. But that is not the case; many successful advisors have worked for many years in other areas.
However, if you're going to make it as a financial advisor, you will likely need to possess these traits:
- Superior communication skills - Good financial advisors are, first and foremost, good listeners. They make sure they understand their clients' hopes, fears, goals, family situation, risk tolerance and investment preferences. And they have the ability to clearly explain possible solutions for their clients' needs.
- Desire to help people - The vast majority of successful investment representatives - those who have been in the field for many years - are truly committed to helping their clients prosper. As an investment representative, you will find few things in life more satisfying than helping a family send children to college or enjoy a dignified, rewarding retirement.
- Capacity for hard work - As a investment representative, you really have no limits on how much you can earn, but this income potential comes with a price: hard work and long hours. During your early years, you will have to devote much of your time to building a client base, and it won't always be easy. And throughout your career, you'll need to constantly educate yourself on different types of investments, changing tax laws, the general economic environment and many other topics.
- Ability to work independently - Depending on where you work, you may have a supervisor, but you are the one who will be almost completely responsible for how your run your business.
Explore your options
Between the great income potential and the ability to help people achieve their cherished goals, you will find few careers that offer as much satisfaction as that of an investment representative. So, if you're interested, start looking around. If you work with an advisor already, ask how he or she got started. Or call a local financial-services firm and find out about their employment opportunities and training programs.
But don't wait too long. It can take some time to build a career as an investment representative - so take action soon.
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