How to Get Into Investment Management With No Experience

Enrolling in a financial certification program will make you a more desirable candidate for companies and a better manager for clients.

Starting a career in investment management can be a battle, but the advantages of running a successful practice are well worth it. Successful managers enjoy a high level of income, the freedom to manage their own schedule as business owners and the satisfaction of helping others achieve their financial goals. Because of these rewards, investment management is a highly competitive field and difficult for new agents, especially those with no experience. Getting into the investment management field requires the ability to build your own network of clients, a commitment to training and education, and persistence in the face of numerous rejections.

Instructions

1. Research the major brokerage firms that hire investment managers in your area. This information can be found online or in the phone book. Look for local branch offices, as this will be the company's hub for recruiting and training.

2. Apply to all the major firms that have offices in your area. They should have a section for job applications on their websites.

3. Apply to independent financial planners and investment advisers in your area as well. They will not be able to offer you the formal training of a larger company, but you may learn more shadowing an individual planner.

4. Sit for any insurance license exams that you will need for your career. You may need a life, health, and/or property and casualty license to sell the products of your future employer. You can take insurance exams before being hired, but must wait until you have a contract with an investment firm to take your Series 6 or 7 investment licensing exam.

5. Enroll in a certification program to acquire an investment designation like the Certificate in Financial Planning (CFP®) or the Chartered Financial Consultant (ChFC®). Studying for these designations will demonstrate your commitment to employers and make you a more knowledgeable investment manager for your clients.

6. Network with your friends and business contacts to let them know you are entering into investment management. Ask if they have any investment needs and if they would be willing to meet with you. During an interview with an investment firm, if you can demonstrate that you have already begun prospecting for clients, you will look like a stronger candidate.

References

• "Fundamentals of Investments for Financial Planning"; Walt J. Woerheide; 2008
• CFP Board: CFP Board Mission