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Do you need a lot of training after college to start a job in finance?

I want to become a financial advisor after college and I want to know will I have to get a lot of training after college?
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Noah’s Answer

If you spent your college career studying finance or investments, you will have the necessary basics to begin a career in finance/wealth management. To be a financial advisor, you need to be "human". What I mean by that is that you have to have strong communication skills and be personable. Clients can tell when you are transactional, so you want to make sure you be yourself and always have the interests of the people you are speaking with. As long as you are organized, have a high emotional intelligence, and have the ability to establish rapport, you are positioned for an excellent career.

In terms of starting off, make sure you are always keeping up with current market events and conditions. Make sure to read books and read articles from multiple news sources. It's important not to be one dimensional. I'd recommend not limiting yourself - look for opportunities at small and large firms. Look for training programs where you can look towards mentors. Long story short, there are millions of companies out there. You can and will find one that best suits what you are looking for.
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Yao’s Answer

Training should be done when you are in collage. Wealth management division of lots of banks offer summer internship programs. Those programs are a great place to start for training and accumulate experience. The summer internship programs help to secure jobs when you graduate. Once you graduate, your first job will typically include basic training and day to day training that would help you to learn and become subject matter expert.
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Cody’s Answer

Hello. Training is generally not a requirement prior to joining a finance company. Having a summer internship is a great way aside from schooling to gain knowledge and experience in the field of your choice. Additionally, the company you join will normally provide the training needed for your role.
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Tiana’s Answer

Hi, For any job you need to go through a training program. If you are going into the Financial Advisor, it may be a little easier if you studied a field similar to what you are going into. I studied Finance and Economics, and it has helped me gain a standing ground on what I am studying right now.
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sergio’s Answer

Yes! There is a lot of training that goes into being a Financial Advisor. After college you are going to be needing certain licenses that require a lot of time and effort to pass. I would advise you to try and get a wealth management internship so that you can have a good base for a successful career.
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Benjamin’s Answer

Mikayla,

Financial advisors - at a minimum - are required to maintain an SIE, Series 7, and a state license such as the Series 66. These usually take a few months to obtain. Eventually you might obtain a CFP which is more extensive. Aside from the licensing, each company will have their own training program.

Best of luck,
Ben
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Craig’s Answer

Upon completing college and starting your career in finance, in many different roles you will be required to attain a few different licenses such as the Series 7, Series 66, and maybe some others. In attaining these licenses you will become even more well-versed within financial planning and advisory. There are always further designations you can attain but simply having those licenses will enable you to possess financial knowledge beyond what the large majority of every day people will have. Much of the training that a financial advisor goes through comes in the form of on the job learning and experiences. The longer you're in the role, the more you will be exposed to, and ultimately the more you're able to learn. A great source of training/knowledge can be gained from finding a mentor who has been in the industry for much longer than yourself.
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Roman’s Answer

In my experience, you don't need a ton of training right out of school to hop into a job in the financial services industry.

If you are interested in personal investments, there are several employers with training programs where you will be brought in with a group of similar individuals and you all study to earn industry licensing.

Another avenue is to intern with a company prior to graduating college. They train you during the internship and then you're ready to hire right out of college.

Hope this helps!
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Kimberly’s Answer

There are some amazing programs out there that offer Training Financial Advisor programs. I would look into that and see if you would be interested in applying for one of those programs to jump start your career!
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Taylor’s Answer

Hi Mikayla -- One tip for you would be to consider some sort of finance rotational or development program. There are several companies that offer this for entry level college graduates. The premise is that you will be in the program for a few years typically, and do several rotations in different areas of the finance function. Many of these programs even offer a training component where they will provide courses as supplemental learning. The finance development program that I participated in was a 2 year program with four six-month rotations. I was able to see and work in four different areas of the business which helped me identify what I wanted to do longer term, vs. what type of role was not for me. I'd encourage you to do some research on companies that have this type of program and go from there! Additionally, many companies will financially support you to get a professional certification pending you pass the exam. This could be a good route as well. Having a certification or additional training going into an interview definitely will help to differentiate you from the rest of the candidates - but I don't believe this is the only criteria that employers look to see. Best of luck to you!
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Nick’s Answer

Yes, training is key...however you can start to build a foundation now... a lot of large financial instituting have free trainings and video curriculum on they public websites to help you understand the basics of investing and finance, I would start with that. Once you are ready to become a FA it is important to look at firms that have clearly defined and reputable training programs to support you while you begin your career. good luck!
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Paulina’s Answer

In order to have a fulfilling and prosperous career in Finance, you will expect to continue your education for the rest of your career.
Depending on which sector you want to be a part of will determine what your continuing education will be like. Not every representative of a financial company is required to have financial licenses, however there are many opportunities that are opened to individuals with more specialized skills, which are acquired through training, licensing, etc.
I highly recommend talking to someone that holds the position you are interested in and asking them their specific training after college.
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Malavika’s Answer

Hi Mikayla,

If you chose Economics or Finance as a major/minor in college, or even did basic accounting and finance principles, you should be in a good shape to apply to be a financial advisor at a company. The field of finance is broad, so you usually get more specialized knowledge on the job. The level of training really depends on how much you already know, and how specialized you are looking to get in the field.

There are various certifications/licenses you can get in this field as well. For example, I am studying for my CFA Level 1 right now which is an in-depth study of basic accounting and finance, as well as ethics as a financial advisor. You can also do a CPA, which will help you strengthen your knowledge in accounting. These licenses can take from 1-3 years to study for, but having them under your belt will be a great asset.

Additionally, I want to refer you to the world of online courses! Today you can find hundreds of courses in specialized finance taught by different universities like Harvard, Yale etc. You can do these in your own time during college, which saves you time on training once you have graduated. These courses range from 1 week to 6 weeks and are very very helpful.
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William Barrett’s Answer

Hey Mikayla, becoming a financial advisor is a process that can take some time, but there are plenty of great training programs for newly graduated college students who are looking to get into the industry. To be a financial advisor, you will required to pass a few licensing exams that take around 3 months to complete if you study efficiently, after which point you will be able to start talking to clients and really getting the training you need to perform your job. Some programs require advisors to train for years, while some develop trainees quickly enough to begin working within months. Hope this helps!
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