Notes

One of the more common questions asked about investment advisor employment matters is whether one can be an investment advisor without having to have any experience in finance or business administration. While there are no formal rules at all on this matter, and no legal impediments to a self-proclaimed investment professional having no work experience in finance or business administration, it may be prudent for one to have a working knowledge of those things in order to supplement their self-proclaimed expertise on investment issues. There are a few ways of doing this, and this article focuses on three of them. Specifically:
The first question to answer in the context of investment advisor employment matters is whether or not one holds a formal degree from an accredited college or university. Some self-professed investment advisors have said that they do not hold degrees themselves but merely "attended" (ie: took notes during class sessions) some courses, which gave them a superficial understanding of the subject matter, and was enough to get them hired as an investment advisor. While this does not ring true when it comes to a formal education, it should be noted that educational institutions such as colleges and universities do not need to grant credit for prior learning. They simply need to report the same. Accordingly, if a person says they attended a four-year university as a college student, but has no other educational records, this is enough for a potential employer to deem them well-rounded enough to handle the job.

Another way of looking at the matter of investment advisor employment matters is to consider whether or not one holds an investment banking license. Licenses can be difficult to acquire, and one will need to go through a very rigorous hiring process in order to even be considered for such a position. As such, one needs to be very sure that they fit the job description, as no one wants to go into an investment bank as an investment advisor and discover they cannot even fill out the necessary paperwork properly. This is something that requires the diligence of anyone who wants to have the job title of the investment adviser. However, investment adviser employment matters, investment adviser compliance services, RIA compliance services is also a more challenging path to follow when it comes to getting investment banking employment.

The final area that must be looked at closely when it comes to investment advisor employment matters is whether or not one has their own practice. While it may seem natural to think that if one has been doing investment advisory work for several years that they would have no problems landing a job as an investment banker, this simply isn't true. After all, investment banking jobs are not static entities; they move around. There is a constant need for investment bankers, meaning that those with experience will always be in demand. For those who are interested in becoming investment bankers, there are certain things to look for as well. For example, many investment banks require that investment advisors take a background exam, and a thorough background check be done on said advisor prior to getting any sort of job.

When it comes to investment advisor employment matters, it is never good to lie about your education or experience. Not only can such misrepresentation to get you in trouble (in terms of regulatory agencies becoming aware of your falsification), but it can also be very detrimental to your career. If you are unsure as to whether or not you have the skills required to do well in investment banking, it is always best to consult a trusted close friend that is already involved in banking to gain insight. Those that have been in the field for some time usually know the ins and outs of investment banking, making them ideal investment advisor candidates.

The final matter to look at when it comes to investment advisor employment matters is whether or not you plan on opening your own firm of investment advising. Though not ideal, it does allow for a greater degree of autonomy over the decision-making process regarding your future career, as well as having a much greater impact on investment advisor candidates due to the vast number of years of investment banking experience that they already possess. However, just because you want to work solely with private clients does not mean that you should lie outright about your education or experience level. Instead, you should simply state all of the relevant facts with regard to your investment advising background, allowing your interviewer to use this information as a gauge in terms of whether or not you should be hired. In many ways, this will be more honest and upfront than lying about your background, since it is ultimately up to the employer whether or not to consider you for employment after an interview; thus, it is generally considered a less-serious issue overall.
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