One of the most overlooked parts of advancing one’s career is self-investment. While this is true in nearly every field of work, it is even more common among young financial advisors who are so busy nurturing client relationships that they can forget about their own futures.
There are two specific areas where young financial advisors make mistakes in planning for their future. The first is not investing in education that could help them advance in the future, and the second is their own finances. Luckily, these mistakes are not difficult to overcome with some planning.
Education and Advancement
Once you have your Certified Financial Planner (CFP) designation, there are continuing education credits you must obtain to keep your designation up to date. However, if you want to advance your career, you should be doing more than the bare minimum.
In terms of career advancement, the steps you take are largely dependent on your own interests. For example, if you have an interest in taxes, like I do, you can obtain an Enrolled Agent (EA) designation from the IRS. I’m not necessarily interested in focusing on taxes in my practice, but I have been considering obtaining this certification to add to my current skill set and advance my career.
Learning does not just include formal education, though. There is a lot to learn by attending networking sessions, reading books and industry news, or attending conferences.
Keeping up with trends in the financial field can help you get ahead in the office, but so can exploring education in other areas. As an entrepreneur, I’m very interested in learning more about business tips and trends. My career and firm have benefited greatly from the networking and educational advancement that I have experienced outside the financial services industry.