5 Investments Careers
- Broker
- Financial Advisor
- Compliance Officer
- Insurance Agent
- Business Attorney
The financial services industry has shown considerable growth in the last 10 to 15 years. After Black Monday in the 1980s and the dot com crash in the early 2000s, the industry has grown more resilient. There are many career opportunities in investments, and gaining the necessary qualifications and education to pursue them isn’t as difficult as some might think.
It might seem accounting would be the way to go for an aspiring investment advisor. The truth is financial services is as much sales as it is anything else. Even for those who aren’t particularly interested in being a broker, persuading clients to take the proper steps for their financial situation takes people skills. If you are thinking of a career in investments, here are some of the most common paths.
1. Broker
The only formal requirement for becoming a registered broker is passing a Series Seven examination. These tests are administered by the Financial Industry Regulatory Authority. They qualify an individual to become a registered representative who is authorized to solicit securities business in U.S. markets. The traditional name for this job is stockbroker.
2. Financial Advisor
This position can take many forms, as there are differing requirements for financial advisors in every state. Many people who want to pursue this type of career start by working as an accountant or analyst until they have built up a candidate client base. Then they move out on their own and register their business with their state government. The specific requirements for becoming a financial advisor can be complex. Plenty of lead time is recommended before proceeding.
3. Compliance Officer
Individuals who complete a Series 14 examination can become regulatory compliance officers for brokerage firms. This position is for someone who supervises broker-dealers. They must make sure their transactions fall within the guidelines established by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Most firms that do more than a certain amount of business are required to have at least one full-time compliance officer.
4. Insurance Agent
While most insurance policies are not investments, a Series 6 license combined with state certification as an insurance agent qualifies an individual to sell annuities. These are a popular form of investing, especially for clients with qualifying retirement accounts. Insurance licensing is administered at the state level, while the Series 6 exam is conducted by FINRA. Annuities and variable annuities alone can easily provide an agent with considerable income.
5. Business Attorney
Of all the possible paths to becoming a fiduciary or investment advisor, this one requires the most preparation and education. Beyond investments, a J.D. combined with an appropriate undergraduate curriculum is a supremely powerful combination in a wide variety of fields. Attorneys have an advantage in business as well, as they can offer their clients privilege and confidentiality backed by the Bar.
Naturally, a background in business and a keen sense of accounting will serve anyone interested in a career in investments well. Ultimately, these jobs all boil down to preparation and education. Obtain the right knowledge first, and everything else follows.
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