To all my financial advisors out there:
Do you feel a sense of accomplishment/gratification, whether it be personally or career oriented, when you work with your clients? This could be keeping the clients progress on track during the ebbs and flows of the markets, establishing child savings plans, budgetary goals, etc.
The genesis of this thread comes from my own satisfaction in my current role. I enjoy what I do, but I don't necessarily feel as sense of gratification or fulfillment in my day to day. Risk isn't necessarily a role that gets praise (just the ramifications when the firm loses money), and I don't think that is what I strive for, but rather an internal sense of pride in what I have accomplished.
I have had an offer to work with a close friend of mine as a financial advisor, that compensation wise isn't far off from where I am now - providing me the ability to consider it. I want to give some introspection into whether this is a viable career path that would lead to the fulfillment I desire, but would also like to hear from those on the front lines.
I appreciate the candor.
Words matter and I take the "Advisor" aspect of Financial Advisor quite seriously (and literally). Unfortunately most don't. Been doing this for over 30 yrs in both a personal practice and Sales VP capacity. Have recruited and coached hundreds of "advisors" while maintaining book.
I LOVE working with clients and helping them navigate the perilous waters whether it be in the accumulation, preservation, or legacy phase. Many of my personal clients refer to me as "their guy" and essentially I am their personal CFO, helping them make all kinds of financial decisions outside the scope of my direct involvement. That's a blast. Many are or have become good friends. Sometimes they're friends first, others are clients first. Having that type of impact is quite satisfying (and way more interesting than talking about the market - which we have no control over).
Most in this field are simply asset gatherers. Nothing wrong with that as the money needs to be invested and managed, but they really aren't advisors.
I appreciate this and honestly refreshing to hear. This is what I envision when I used the word advisor, although I understand there are those in the profession for the money.
I have heard both good and bad from friends in the field. Also, I understand the work required to build the relationships.
Thanks again for the color and the below mentioned example. Cheers!
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