Hello from a career changer |
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bleujob
Greenhorns Joined: Feb/23/2017 Location: Virginia Status: Offline Points: 16 |
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Posted: Feb/23/2017 at 1:05pm |
My name is Kyle and I am moving down the path to transition into a financial advisor career. My background is in engineering as it applies to Naval vessels, both in the Navy as a nuclear electrical operator and as a test engineer at a federal shipyard working on submarines. Granted, not a lot transfers over to the financial industry with the exception of the intangibles, but I have
no doubt in my mind that I can do it. I didn't know anything about nuclear power before I joined the Navy but ended up graduating at the top of my class and receiving excellent evaluations once I got out to the fleet. I didn't know anything about test engineering but I am exceling at that as well. The reason for my career change is simple, I care about finances. My heart is not in my current line of work and it is taking its toll on me. I find personal finance to be a rewarding career path that brings me back to my original interests back before I joined the Navy. This upcoming career change will bring new and exciting challenges that I will work to meet and exceed. Thank you all for reading my rambling and I look forward to chatting with y'all.
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anonymous
Senior Member Joined: Oct/26/2010 Status: Offline Points: 3687 |
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Welcome to the board! The bolded section is the most important thing in your moving into this field. If you REALLY care, there is no way you can fail.
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"Just do shit. It doesnt matter what as long as it gets you and your name in front of people" - Sportsfreak
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Welcome and thank you for your service!
The American College offers scholarships for active military and military veterans for their coursework, such as CFP, ChFC, CLU, RICP and others. Definitely worth checking out. If you can, I'd knock out the CFP or ChFC coursework before you get started in the field so you don't have to focus on it later. |
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bleujob
Greenhorns Joined: Feb/23/2017 Location: Virginia Status: Offline Points: 16 |
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Would you look at that?! 10 minutes on this board and I have the best little tidbit I've received yet! I looked a bit into CFP but always assumed that was a "in-career" type thing. I'll definitely look into the scholarship opportunities and weigh the idea of knocking some of that out before I transition over. How long do you think it would take to complete the coursework? |
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anonymous
Senior Member Joined: Oct/26/2010 Status: Offline Points: 3687 |
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You can knock out each module in a month and take the exam in either June or December. You can use the marks until you have 3 years of experience though |
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"Just do shit. It doesnt matter what as long as it gets you and your name in front of people" - Sportsfreak
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bleujob
Greenhorns Joined: Feb/23/2017 Location: Virginia Status: Offline Points: 16 |
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Thank you very much!! I probably won't be able to get into it until next year some time but I put a reminder in to make sure I don't forget about it.
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MrGreen
Senior Member Joined: Jul/10/2015 Status: Offline Points: 1015 |
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Work & prospect hard. Always do the right thing. Disclose everything (and I mean everything). Remember this is just as much a customer services/sales job as it is a numbers job. You'll be fine. Good luck!
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3okirb
Senior Member Joined: Jun/06/2016 Status: Offline Points: 1148 |
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12 months for someone new to the business. BTW, keep in mind that at the center of this career is sales. Just because you care, are honest, are really wanting to do the best for people, etc., that doesn't mean one hill of beans when it comes to selling. NONE. And it will frustrate you when you're truly wanting to do what's best for someone and they reject you for someone you know is telling them a lie.
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Fitness1983
Senior Member Joined: Mar/06/2016 Status: Offline Points: 804 |
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Serious question to the vets and not trying to be flippant or dismissive but when does "passionate about finance" even matter--if ever? I mean, I understand passion is always an asset but if you are passionate about something that doesn't align with the career you've chose that surely becomes an issue.
Doesn't mean this guy can't be successful. He can of course. But his passion of finance will be on the back burner for awhile. |
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jdavid83
Member Joined: Oct/13/2016 Status: Offline Points: 201 |
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I'd hold off on the CFP man, get licensed and see if you enjoy the sales part before committing further. Don't worry, many have the same misconception coming in thinking you'll be sitting there knocking out financial plans with monte carlo all day. There are para planner roles out there if you want to go that route. But sales are what pays.
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Normally, I'd completely agree with holding off. However, since he's planning on a future transition after a year or so, if he could knock out some of this stuff, it may only help him... once he's in front of people.
BTW, I only meant getting the education. Definitely hold off on the comprehensive exam for a while. Edited by D.H.K. - Feb/23/2017 at 4:56pm |
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advisorman
Senior Member Joined: Oct/22/2011 Location: Behind you Status: Offline Points: 4246 |
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I think mr green did it this way before he went to Edward Jones |
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King of sarcasm and speling
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antonuus
Greenhorns Joined: Jan/19/2017 Location: Wilen Status: Offline Points: 72 |
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Welcome to the board. It is a good place to get ideas. I have to chime in and suggest that you get your license first, preferably Series 65. You can then start knocking on (heavens) door. See, if you like it. Tobe successful you?ll need a lot of enthusiasm and thick skin. Mostly, this is a selling job. Yes, you will need to acquire a flair for the markets as well, the more the better for you. Be transparent with your customer. Customers/Prospects, once you get to speak to them, value good service, honesty and competence. I wish you all the best and again welcome to the industry!
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JH
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bleujob
Greenhorns Joined: Feb/23/2017 Location: Virginia Status: Offline Points: 16 |
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Thanks! I was recently looking into knocking out the 65 prior to applying for positions. My current time line is:Spring 2017: engineering job / school
Summer 2017: engineering job / no school (I need a break) Fall 2017 - Fall 2018: engineering job / school Is there any sort of "expiration" or do you think it would look strange if I took and passed the 65 this coming summer but didn't actually hold an advisor position until late 2018 or early 2019?
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antonuus
Greenhorns Joined: Jan/19/2017 Location: Wilen Status: Offline Points: 72 |
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I can't tell you for sure.
I found this link, which may be helpful to you http://series65test.com/will-my-series-exam-expire/ |
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JH
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Fitness1983
Senior Member Joined: Mar/06/2016 Status: Offline Points: 804 |
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What inspired your username? Was it your time in the ship yard?
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3okirb
Senior Member Joined: Jun/06/2016 Status: Offline Points: 1148 |
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I did the education for the CFP before changing careers. I'm torn if it's a good idea. On the one hand, you can better sniff out the BS you'll get from managers and you'll have a better idea of what's truly better for the client, but on the other hand, extra knowledge can be a huge distraction when closing sales and gathering assets for the first time. It gave me diarrhea of the mouth BIG TIME and cost me a lot of money.
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bleujob
Greenhorns Joined: Feb/23/2017 Location: Virginia Status: Offline Points: 16 |
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Thanks, maybe I'll wait until it gets a little closer to DDay just to be safe
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bleujob
Greenhorns Joined: Feb/23/2017 Location: Virginia Status: Offline Points: 16 |
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honestly, I can't remember. It's a username that I use across a bunch of different platforms. So if you ever see that guy on Xbox live that dies all the time... that's me!
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bleujob
Greenhorns Joined: Feb/23/2017 Location: Virginia Status: Offline Points: 16 |
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Yea, I could see that. I'm not sure how feasible it would be for me to knock it out before I start applying. I figure I'll apply for a scholarship when the time comes and if that comes through, why not start it at least.
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