Financial Advisor Training

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Nov 1, 2006 9:47 pm

Besides having a mentor or in class training for a firm, where can one obtain training. Internet websites? Or just go to product training courses? Or another source?

Nov 1, 2006 10:41 pm

This in class training at wirehouses is a myth…

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You want to know where to get training- pick up the wall street journal

Nov 2, 2006 1:12 am

Yeah, man I have done that for 10 years. I hear you guys SHOW ME THE MONEY then I meet an INDY who says I cant provide you the solid training. WTF!

Nov 2, 2006 1:14 am

Ohh wait I get a big firm pushing for MBAs and JDs then when I get there new director is showing me 200 applicantions that month and 15 selected. WOW, some mass RR development there. How special the masses must feel.

Nov 2, 2006 1:51 am

Dude what the fark are you trying to say?

Nov 2, 2006 6:06 am

He's asking if there is some way that a guy who has little or no formal education can go to a school such as DrVry tech and learn to become a financial advisor.  Essentially, is there a trade school route that can end up on the sales side of Wall Street.

The answer is no.  Let's move on.

Nov 2, 2006 10:42 am

No, I was asking if there is courses outside a big firm that someone new to the industry could go to learn about retirement concepts.

I was thinking outside of going to training for specific products that a company may offer.

Someone in the past posted some general courses one could take, but I have been unable to find that post.

Nov 2, 2006 1:34 pm

Do you want to get credentials or just learn more about certain things?  These are good for courses to gain CFA CFP ChLU and so on.

If you just want to take some classes for CE or to learn about concepts like business continuation, estate planning in general, retirement plans, etc. there are a lot of providers on the web that you can order just that topic.  Google is our friend :D

Nov 2, 2006 3:49 pm

Thanks bab… Anyone on the Linkedin? This is a great way to network. I have a lot of people that trust me in just one day I am up to 20.

Bab… You are independent, would you ever just go to a class at ING for annuities? Or maybe a mutual fund firm to get training? After all the more you know about their theories and products the better off one is.

Just amazes me how many people need advice on just about everything from taxes, estate and investment planning.

Nov 2, 2006 5:16 pm

would you ever just go to a class at ING for annuities? Or maybe a mutual fund firm to get training? After all the more you know about their theories and products the better off one is.

The more knowledge you  have about anything the better. Be aware, of course, that the wholesalers at the various firms are going to try to sell you on their products and may gloss over some of the low points. 

It's probably better to get unbiased information from educational sources and then compare it to the info you are getting from the sales reps.  I'm always skeptical of the wholesalers. After all, they are trying to sell us their product.

Nov 2, 2006 9:50 pm

babs nice quote

Nov 3, 2006 12:24 am

If I were to go to their classes to leach some information I would run it by my senior partner to make sure I have the most information possible.

Nov 3, 2006 11:26 am

My experience is that in-house training, CE classes and even the CFP classes I'm currently taking merely give background and overviews of the various financial topics.  Enough info to allow you to pass multiple choice tests and help sound like an "expert" to the uninformed masses. 

Wholesalers are where you learn the nuts and bolts of the products and can get some specific application ideas.  However, as previously stated, they are selling their product so it is incumbant on you not to buy the hype but rather to research the best products for the best applications.

I have yet to find any good training on applications and best practices.  It is probably because there is no consensus on the right way to do anything, and in most instances there is no one right way.  In the end you will need to use your experience and judgement to develop strategies and pick the products to implement them.

Nov 3, 2006 8:41 pm

Maybe 2 years on this forum and one is an expert.