Diploma just a first step

Sep 29, 2013 @ 12:01 am

By Michael Shagrin

After three months on the job at The Ayco Co. LP in Atlanta, Madison Ernst is surviving the hectic introductory period to life as a young financial analyst.

While she engaged in hands-on work during her final summer internship at another firm, Ms. Ernst only recently was exposed to the intricacies of financial planning.

“Seeing how much time goes into each individual prep meeting was very surprising,” she said. “It's been busy but wonderful.”

Ms. Ernst, 23, graduated with a financial planning degree from the University of Georgia this year, but she's the first to admit that a diploma didn't immediately qualify her for the complexities of financial planning.

“The first six weeks was training, where you're prepped to join a team,” she said. Ms. Ernst joined an account manager and has since been performing analyst duties. “Once you're on a team, you end up getting much more involved in the financial planning process.”

Most of the time, Ms. Ernst finds herself preparing for client meetings, which involve everything from estate planning to insurance strategies.

“During my first day on the team, I felt a bit overwhelmed learning everything they were doing,” she said. “Training had basic examples, but it's totally different being thrown into a client's complex financial situation.”

She found the biggest challenge to be the novelty of her situation, paired with the pressure of working with so many senior members of the firm. But she can always go to the senior adviser on her team, who has acted as a sort of mentor.

“I work with another planner, and he's definitely my biggest resource,” she said.

While her goal is to open an independent practice, Ms. Ernst appreciates the breadth of experience she'll be able to gain at Ayco.

“At the bigger firms, you're seeing more clients in more situations and more resources to guide them,” she said. “In smaller offices, you just don't have the same internal resources.”

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Why a sabbatical is the perk advisory firms can’t overlook

Financial advice firms offering this benefit praise the impact its had on their businesses.

Latest news & opinion

Finra anticipates oversight role for SEC advice rule

CEO Robert Cook says one area for examination could be the proposed requirement that brokers act in the best interests of their clients.

IBDs with the most CFPs

Here are the 10 independent broker-dealers that employ the most certified financial planner professionals.

Why we must create a more diverse and sustainable financial planning profession

CEO explains how, why a firm should commit to conscious inclusion.

Pope Francis wants financial advisers to work like fiduciaries

Vatican bulletin admonishes advisers who act against the best interests of their clients.

Wells Fargo sees slowdown in advisers exiting this year

The 2016 banking scandal and public relations fiasco had alienated some of the firm's advisers.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print