Former service rep now gives advice

April Peterson is finding the business a little stressful but she's having an impact on clients' lives.
MAR 23, 2014
April Peterson knows she still has a lot to learn, but last week, she was promoted at USAA and now will be providing limited retirement advice directly to clients. In her previous role, Ms. Peterson, 24, was an investment service representative with the United States Automobile Association of San Antonio and spent much of her days answering calls from members. USAA sells financial products and other services to U.S. military personnel. For those thinking about retirement, Ms. Peterson guides them to a calculator showing an approximate amount they should be saving regularly. “Once they see that retirement calculator, everyone gets really nervous,” she said. (Follow April's progress:

MEAGER SAVINGS

Ms. Peterson is amazed at how many people in their 40s and 50s want to retire in 15 years but have only about $3,000 saved. Some of them have had to pull money out of retirement accounts to pay for their children's education, and others have had to spend down their savings to help their parents, she said. Ms. Peterson wishes she could “hold a financial seminar at a high school every week” so more people would be educated about their finances. In her new position, callers are passed to her for advice on retirement savings plans. Demand for these services is growing so quickly that managers at USAA had asked certain employees if they were interested in the opportunity. Ms. Peterson planned to sit for the July certified financial planner exam, but now that it's moving to a computer-based format in November, she's thinking she'll wait until then. She likes the idea of immediately finding out her scores, even though they would be preliminary and not verified for one to two weeks. Currently, test takers must wait about five weeks to know if they have passed the CFP exam. Ms. Peterson said the financial advice business so far “is a little bit stressful,” but she would recommend it to friends and family members. “Not only do you get to learn about your own personal goals and success, but you really impact other people's lives,” she said.

Latest News

Progress runs on AI. Purpose runs on people
Progress runs on AI. Purpose runs on people

When advisors have tech to handle meeting prep and organization, it frees up time they can reinvest more thoughtfully into helping clients.

Advisor moves: Wells Fargo FiNet lands $580M Ameriprise team
Advisor moves: Wells Fargo FiNet lands $580M Ameriprise team

LPL Financial and Raymond James also add independent advisors from Osaic and Edward Jones in Michigan and Arizona.

M1 Advisor bets AI can serve clients wealth managers turn away
M1 Advisor bets AI can serve clients wealth managers turn away

The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.

SEC charges Caris Investment Partners in alleged cherry-picking scheme
SEC charges Caris Investment Partners in alleged cherry-picking scheme

95.8% of house trades were winners. For clients? The SEC says just 14.9%.

Pension fund accuses Duolingo of burying user-growth crisis
Pension fund accuses Duolingo of burying user-growth crisis

The complaint says Duolingo added friction on purpose, then lied about it.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor