Tips for financial advisor interviews.

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Do you have any tips to help prepare for an upcoming financial advisor interview?

Are there common interview questions that come up again and again?

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nader in Los Angeles, California

84 months ago

why are you interested in becoming a financial advisor and why would you make a good one. i gaurantee this question will be asked.

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parsnips in Weston-super-Mare, United Kingdom

82 months ago

nader in Los Angeles, California said: why are you interested in becoming a financial advisor and why would you make a good one. i gaurantee this question will be asked.

i am interested in fiancial advising because i am good with numbers and not much else also i have a decent memory. i think i will be a good fiancial advisor because i can remember numbers using a decent memory also i enjoy using numbers at school apart from pe it is the only thing i really enjoy

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Huh? in Greer, South Carolina

71 months ago

Parsnips, you can't be serious with a brain dead response like that. Please don't play with anyone's money. Ever.

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Ric in Norfolk, Virginia

71 months ago

A better response would be to give a short list of ways you'd like to help people with the products that the adviser has to offer. Also, that you like talking to and learning about people, and consider yourself a people person, who has trained to advise people, financially.

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wondering in Rockford, Illinois

70 months ago

living in reality in New Castle, Delaware said: If you want to work your own hours, get highy paid whether your are in the office or not, and like having a nice lifestyple, then FA is a good choice, especially becoming a finacial invesetmen tadviser. As for where to start, look for an existing FIA prducer and an insurance adviser company and learn how to sell. Smaller companies are better than the bigger, popular companies. Eventually you will stay because you like it or leave because you want to start you own. This way you will get to know the ropes (very important). Stay away fom large insurance companies and away from negative people, like in the last two post. Nether one knows what there talking about and if there are in the business, they obvisiouly not making any money.

Howeever, despite what many advisers say to you, people do not really care about financial training. Most people only care about the asset returns. Afterall, that's what they are investing in you for. I say this bexause so many advisersors delute themselves and forget that they are just a sales tool to gather assets. And, regardless of who is to blame and despite how nice you are, many people will blame you for the losses and leave, regardless of who is at fault. If you can understand that and have ambition and work you will do really well. Also, Understand that becasue people only focus on returns there is a lot of compliance. Don't make the mistake of working with a broker dealer or a insurance broker but work with an Fiancial Investment advisor that does seminars and newsletter. 99% of advisers make this mistake and leave with in 5 years. Do this and you will be a superstar, travel a lot, and make a great and fun living.


what is the difference between a broker/dealer and a financial investment advisor?

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Financial Advisor 4 U in Ocala, Florida

49 months ago

Should be getting offers from Edward Jones and Wells Advisors. Both have good talking points. I heard EJ makes you sign a contract if you leave within 3 years for another firm, you must repay training cost...I dont like. Is this true? Does WFA have the same stipulation?

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Wealth Manager in Dublin, California

49 months ago

All major firms have stipulations in the contract regarding the repayment of training costs. In my seven years in the business I have yet to see a firm go after a trainee on this. Normally when a trainee leaves in the first few years it is due to low production (commissions being generated). A firm has no incentive to chase after these people. Where it might apply is if a trainee joins a team or inherits a book of business in the first few years and decides to leverage this situation into a transition package at another firm (i.e. the firm pays you a upfront money to bring your book of business over).

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Malekmasry in Springfield, Virginia

39 months ago

A broker dealer effects securities transactions, basically B/D are paid upon commission, if you win or lose B/D will get their money. Financial investment advisor have a fiduciary to act in the best interest of the client. They are paid based on asset under management, so if you lose they lose. A B/D is run by Agents who work for the B/D, Brokers charge commissions, whereas Dealers charge a mark up/mark down cost. Investment Advisory firms are run by Investment Advisor Representatives (IAR), who act in the clients best interest.

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Tony in Los Angeles, California

35 months ago

parsnips in Weston-super-Mare, United Kingdom said: i am interested in fiancial advising because i am good with numbers and not much else also i have a decent memory. i think i will be a good fiancial advisor because i can remember numbers using a decent memory also i enjoy using numbers at school apart from pe it is the only thing i really enjoy

Ahaha sounds like the young kid from "The curious incident of the Dog in Night-time".

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Tell the Truth in West Chicago, Illinois

30 months ago

Huh? in Greer, South Carolina said: Parsnips, you can't be serious with a brain dead response like that. Please don't play with anyone's money. Ever.

Please - give Parsnips some credit - at least he gave an honest answer - unlike wallstreet. ie Maddoff... ect.

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Laurenn in San Francisco, California

29 months ago

Hi I have an upcoming interview with Transamerica, What do you guys think about the company? I know confidence is key, but what can really set you apart from the other interviewers? By the way I have never done financing, Im 21 African American woman who is a physics major! I figured somebody must believe that I am capable at doing this job! Any comments or answers will help both negative and positive Thank you guys so much.

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Apple in Sylmar, California

28 months ago

Hi! I have an interview with Transamerica in Woodland Hills, for a Financial Advisor position. I have no experience in the field, I was told they will work with me on getting me a license. Does any body know if this is like Primerica, where they are really pushy on trying to make you work for them???

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mlumvune@gmail.com in Durban, South Africa

17 months ago

I AM VERY MUCH INTERESTED IN THIS TYPE OF JOB MY AMBITIONS IS BECOME ONE OF BEST EVER FINANCIAL ADVISER,I AM LOOKING FORWARD TO DEVELOP MY CAREER IN FINANCIAL MANAGEMENT. MY REQUEST IS FOR ANY TIPS TO HELP FIND MY DREAM IN THIS CATEGORY CAREER THANK YOU.

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Larry in Dallas, Texas

13 months ago

Wealth Manager in Dublin, California said: All major firms have stipulations in the contract regarding the repayment of training costs. In my seven years in the business I have yet to see a firm go after a trainee on this. Normally when a trainee leaves in the first few years it is due to low production (commissions being generated). A firm has no incentive to chase after these people. Where it might apply is if a trainee joins a team or inherits a book of business in the first few years and decides to leverage this situation into a transition package at another firm (i.e. the firm pays you a upfront money to bring your book of business over).

Not all major firms, I don't think the wirehouses have these types of contracts. Can someone confirm? The firms that provide a lot of training, such as EJ, do have this stipulation but there is much misinformation about it.

I can't confirm if it is still like this, but the terms were previously like: The training fee was 75k. If you leave within three years and go to another firm as an advisor (not if you just quit and do something else), you have to pay the full amount in the first year, and then it is reduced by $9k every quater after the first year. If you leave after the three years it costs nothing.

Though you are right, it's doubtful they will go after you unless you had a good amount of business.

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Larry in Dallas, Texas

13 months ago

The interviews vary greatly from company to company, but I would assume it will center on your ability to communicate with people (what they really want to find out is how good of a salesperson you will be)

So be ready for questions like: Tell me about a project that you worked on with a team. Do you work well by yourself or with other people? Are you outgoing? Are you comfortable talking to potential clients on the phone and meeting with them in person? I would stress your excellent ability to communicate with people.

It is doubtful they will ask any technical questions about investments. Probably only general ones like, what do you think about the market? and what do you like to invest in?

Before any interviews I would read this article so you can find out a little about the industry and the difference between the types of financial advisors:

www.jobunlocker.com/blog/8-things-you-should-know-before-getting-a-job-as-a-financial-advisor/

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