Seeking career advice

[homengso]

I am looking to retire from a 30 year career in high tech (engineering) and looking to transition into financial planning with the goal of helping young families develop a financial plan consistent with their goals (budget/risk/savings)... I'm not looking to get rich servicing HNW clients. Ideally doing fee based planning services within an existing structure. I am not interested in 60 hour weeks developing a client base. I am about 1/3 thru the CFP online course and would like to gain the 3 years experience for CFP designation...but this is not critical to my goal of helping folks. I think I would be good at doing educational seminars as well.


My quandrary is where to seek employment consistent with above. Most independent advisor firms seem to be more interested in HNW clients and managing assets. Life insurance companies are probably a better match to those I would like to serve (but they are more concerned about production and soliciting my contacts). I've considered just hanging a shingle, but I don't really want the aggrevation of running a small business. I've considered Dave Ramsey's counseling course - but that doesn't provide any certifiable experience, nor much income.



Can anyone recommend a Life Insurance Company doing more holistic planning? Any other suggestions?

[Bradly T.]

I fear many, if not ALL insurance based BDs and indie BDs alike will have production requirements for new hires, some very specific by product type. You might consider a LOCAL indie branch office as a planner with little or no product quota or a CPA firm with a licensed principal offering financial services (planning and product) whose business model and client base and priorities match your own. You can share production comp as licensing allows. Once you have established a personal production GDC (gross dealer concession) of $100k or higher, many indies will take you and provide a direct compensation agreement and resource support. I doubt you'll enjoy a production driven manager experience....they usually do NOT share your priorities, time frames, or client sensitivities. Many very good professionals fail due to our industry's traditional misalignment between producers and management.


I work in a small town CPA office, serving working class and small business owners, with an indie dual hybrid BD with planning as the keystone differentiator with competitors. What you want does work but it took a long time for me to get there. Best of luck.

[investmentadvisor]

Hello,
What state are you in?

[homengso]

I'm in N.Carolina. I'm leaning toward seeking a position in an indep. RIA firm to gain some experience before going solo.
Thanks to Discussion board for all the good inputs.

[bus1nessmgt2012]

As a business consultant for a long time, I will advise you to do some research on the best insurance company there is. You might also want to ask for a referral from your friends who have retired already.



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Turnaround Consultants