Almost every day, people and companies invest billions of euros in bonds, stocks, stocks and mutual funds. Investment advisors are commercial agents who help their clients, individuals or businesses, to invest their money intelligently. In addition, they are responsible for buying and selling the securities on behalf of their clients. However, before an investment advisor can begin assisting investors, they must train to accomplish this job and its goals.
Steps
Method 1 of 4: While in University
Step 1. Choose a banking related degree program
There is no specific degree to become an investment consultant, so you must select a course related to this field, such as finance, economics, business or accounting. Any such degree program should be fine.
Step 2. As you take the courses, brush up on your accounting and presentation skills
This job requires a certain predisposition for numbers. Lessons like this are great for practicing.
- Make sure you create presentations with spreadsheets.
- Knowing how to use Microsoft Excel and PowerPoint is essential. Don't waste too much time on alternative programs.
Step 3. Do an internship in the summer
The best thing you can do to get such a job right after you graduate is to complete a summer internship at an investment consulting company before graduation.
- You should definitely give the big investment advisory firms a try, some of the most famous are in New York and London. Doing an internship at a smaller investment bank is just as good. These businesses are called "Boutique Investment Banks" and exist in several cities.
- There are many reasons why a smaller bank may be easier to approach for an internship. First, you may have one in your city. It could also be a company that is more specialized in what you do (for example, let's pretend you did an internship at an airline. If there are some boutique firms in your city that deal almost exclusively with aircraft contracts, this is the most suitable solution for you). Furthermore, competition may be lower. Many students have never heard of boutique companies.
- You can also get a summer internship at a regular bank (not an investment bank). It's not nearly as useful for your purpose, but it will still give you huge benefits.
Step 4. Make a name for yourself on industry networks and social networks
As is the case everywhere, knowing the right people to find work is helpful.
- If your university has one, join an investment advisory club. It's a great way to network with potential employers.
- Join LinkedIn groups regarding investment advice.
- Talk to alumni at your university who have recently found work in the industry. You can get in touch with them through LinkedIn, Readyforce, or even Facebook. Invite them for lunch (if they live in the area) or call if they are away.
- Don't be afraid to travel and go to another city to meet people, as long as this can help you find new possibilities.
Step 5. Try to look awake when you go to interviews
Banks want people capable of playing this role.
- You should dress classy, formal and relatively old-fashioned. But you don't have to look out of fashion.
- If you need to travel to a different country for the interview, find out about the most popular style of dress in your industry for the city you are going to go to. Either way, try to be formal.
Method 2 of 4: When You Specialize
Step 1. If you pursue a master's degree in business management, the task of becoming an investment advisor is easier
Many banks are looking for students to recruit at the university itself. Make sure you network like there's no tomorrow when banks visit your institution. Prepare business cards and call people you meet.
Step 2. Search for boutique banks
Smaller banks often don't visit universities. Search for them through your favorite social network. Remember, it's important to know how to sell in this business, so they will respect and admire you if you have the guts to step up.
Step 3. If you have a master's degree but not a master's, you can still do it
Banks like this love smart people, even if they don't have an MBA.
- Make sure you contact your university's career guidance center and take advantage of it as it can be an important resource! They can help you find the right events to attend.
- Understand that you need to prove your business skills and fill this role. If you take an undergraduate degree like social science, be prepared to demonstrate that you can use a spreadsheet as if you were an accounting wizard.
Method 3 of 4: Coming from Another Industry or Not Having a Degree
Step 1. You should know that banks do not normally hire people who have not followed a certain course of study
It's tough to get a job as an investment consultant if you don't have a certain degree, but you can get by with the right strategy.
Step 2. Shake up your education history
If you have a totally different background, a master's degree taken in the evenings or part-time might be useful. Banks usually don't like these masters very much, but you can use one to tell your story and show that you are really working hard to change careers.
Step 3. Apply or offer to do an internship
It may seem strange to you, but investment banks like to hire people who have interned with them but are not yet graduated, and this can work even with someone who was in a different job.
Step 4. Network assertively
Call investment advisors (maybe friends of friends) and invite them to lunch so they can give you some advice.
Method 4 of 4: After Joining an Investment Bank
Step 1. Know that investment banks usually have intense training classes to get you started
Study hard and make a good impression! Depending on the job you aspire to in the bank, you will need to pass some exams. In some countries, such as the USA, you should have a license to practice the profession. If so, check out FINRA for more information.
- In the US, you may need to take the Series 79 exam, which is intended for people who want to deal with acquisitions, refinancing, and other such aspects in the company.
- Also in the USA, there is also the Series 7 exam, required for financial intermediaries. This is a very extensive exam, which takes a full six hours.
Advice
- An investment advisor needs certain qualities and skills to be successful. For example, a person should have excellent interpersonal and communication skills, the ability to work with a team or independently, and excellent mathematical skills. Self-confidence and a good work ethic are equally important. Self-esteem is necessary, because an investment advisor can face a lot of rejections when working with clients.
- Many investment advisors have more than one license.
- In the US, completing exams such as the Uniform Securities Agents State Law Examination and Uniform Investment Advisor Law Examinations, called Series 63 and Series 65 exams, may be mandatory in many states.
- An investment adviser who has passed the right license exam or has earned the title under the laws of the place where he lives is able to begin buying and selling on behalf of the client.
