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Hello from a career changer

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bleujob View Drop Down
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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.
 
I am currently attending school full time while working 40-60 hour weeks and on track to obtain my undergrad degree in finance fall 2018. I am hoping to gain knowledge on how to succeed, a clear path of goals, areas of financial advising to look into, and any other advice I gather.
 
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 View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote anonymous Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 1:13pm
Originally posted by bleujob bleujob wrote:

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.
 
I am currently attending school full time while working 40-60 hour weeks and on track to obtain my undergrad degree in finance fall 2018. I am hoping to gain knowledge on how to succeed, a clear path of goals, areas of financial advising to look into, and any other advice I gather.
 
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.
 
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.
"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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Post Options Post Options   Thanks (1) Thanks(1)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 1:25pm
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote bleujob Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 2:12pm

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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Post Options Post Options   Thanks (1) Thanks(1)   Quote anonymous Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 2:17pm
Originally posted by bleujob bleujob wrote:

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?



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
"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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bleujob Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 2:23pm
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote MrGreen Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 2:28pm

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote 3okirb Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 2:52pm
Originally posted by bleujob bleujob wrote:

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?


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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 4:37pm
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote jdavid83 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 4:49pm
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 4:56pm
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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote advisorman Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2017 at 5:36pm
Originally posted by MrGreen MrGreen wrote:

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!


I think mr green did it this way before he went to Edward Jones
King of sarcasm and speling
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antonuus View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote antonuus Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 7:15am
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!
JH
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bleujob Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 7:43am
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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Post Options Post Options   Thanks (1) Thanks(1)   Quote antonuus Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 7:52am
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/


JH
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 9:03am
What inspired your username? Was it your time in the ship yard?
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Post Options Post Options   Thanks (1) Thanks(1)   Quote 3okirb Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 10:11am
Originally posted by D.H.K. D.H.K. wrote:

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.

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote bleujob Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 11:10am
Thanks, maybe I'll wait until it gets a little closer to DDay just to be safe
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bleujob Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 11:12am
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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bleujob Quote  Post ReplyReply Direct Link To This Post Posted: Feb/24/2017 at 11:16am
Originally posted by 3okirb 3okirb wrote:

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. 
 
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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