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Looking for tips to make my objective standout.
Hi fishes,
I am planning a switch so was going through some salary data for a software engineer. My ex-senior manager recommended me a website: Growceed.com which helped me a lot in getting clarification about a lot of things but I am in doubt whether the average salaries of software engineer mentioned on Growceed.com really that much in top MNC companies.
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Don't sell, just let the numbers do the talking. Most peoples portfolio, p&L aren't balanced. Help them balance it and it will sell on its own.
Not an unreasonable question at all and should not get many laughs here. This answer falls within an individual’s ethical compass. If you abide by best interest regulations your experience should always be a what’s best for the client and not how much a certain recommended product puts in my pocket. Sadly not all advisors take this stance but trust there are controls in place to identify unsuitable investments and take appropriate action to unwind. If you know your client and advise according to their specific situation and desired outcome you’ll be successful and not feel the least bit unethical or scummy. The fact you dislike recommending products that aren’t beneficial is a great sign that you morals are in the right place by putting the client first.
Well said!
Also, try to avoid places that have quotas.
How would you define not beneficial?
@Citi 2 - Actually that’s what I witnessed at another firm in the 1980s. Not at MS.
A lot of shops are focusing more on financial planning. I’d say go to a smaller shop and develop your own book. It’d be a lot of sales at the start, but more selling the relationship with yourself. Once you have your book of business you can focus solely on planning.
If you are not looking to build a book from the ground up then it’s all about firm selection. A place like Fidelity you’re never going to be told to push clients into products not in their best interest. You may not get filthy rich like at some firms pushing variable annuities down the clients throat. You can still make a very nice living though and you can sleep at night.
Work for a firm that doesn’t push their own products.
Rising Star
FP&A is financial planning and analysis. You do not sell to earn income. You sell your ideas to leadership to help make an impact on the business and usually best way is helping to either drive growth, or save on cost. There are other ways to provide value in FP&A, but these are the usual functions, and are high-level.
do you have recommendations for those following on where to look for FP&A roles in the current environment (layoffs and hiring freezes)?
Consider getting your CFP®️ certification and look for paraplanning roles at a larger team at an RIA.
That’s the exact reason I started my business. I’m not selling just helping place clients which business loans that make sense for them
Definitely! Tell me more about what you do!
CFP
I think there is a lot of good info here. Avoid the insurance based shops and those that sell proprietary products.
As a fiduciary advisor I start with the financial planning. If they are young and just getting started, I help them set goals. As we work their plan things come up.
If they need LTCI I refer them to someone else so they get it, and don't question if I am recommending for the commission. Same for permanent life insurance as well.
Because I take care not to push products, and just do what is needed for the plan, I then get a lot of referrals and have a retention rate of nearly 100% (not counting people who move across country or something).
I do not sell products, I sell myself. The rest just comes. If you approach it like a sales role you will feel dirty, but if you are just helping people find the right answers to their questions, then you are a valuable part of their lives.
I’ve worked in a rehabilitation facility educating mothers on how to spend their own finances. Not sure if this is work you’d be interested in but its definitely rewarding and I didnt feel that unethical corporate icky feeling.
fiduciary.
IAR