Wanted Financial Planner Intern
For the last five years, I have been teaching Personal Finance at the Bauer College of Business at University of Houston. Recently, UH started a training program for Certified Financial Planner™ professionals. The Archetype team has decided to work with UH to hire and train CFP® candidates whenever possible. Below is the job description, feel free to share it with anyone you feel meets the qualifications.
Financial Planner Intern Responsibilities: Reports to and assists the Director of Financial Planning and will have the following responsibilities:
•Assist in preparation of financial plans for clients including analysis and recommendations in areas such as cash-flow, retirement, estate-planning, education-funding, stock options and risk management
•Manage pre-client meeting activities such as preparation of agendas, client-ready financial plan presentations, recommendations and client paperwork
•Manage post-client meeting tasks in a timely manner such as meeting notes, revisions to financial plans as needed and implementation of agreed upon recommendations
•Evaluate clients current investments, assist in development of recommendations and presentation to clients, implement changes as outlined in client’s Investment Policy Statements as appropriate
•Follow-up with clients’ other advisors for collaboration and coordination as needed
•Deliver an extraordinary client experience by demonstrating a clear understanding of our 7 Step Financial Planning Process:
Step 1 > Discovery Meeting
The planning process starts with a face-to-face (or FaceTime) meeting to get to know the client’s vision, values, and purpose. During this meeting we ask our clients to share their goals and concerns and we’ll review their current situation along with their personal financial statement and other key documents (investment statements, tax returns, estate planning documents, etc.).
Step 2 > Initial Observations
Next we create a list of initial observations based on the information provided. Our team then works together to build a comprehensive financial model of their current situation or what we call your Archetype Blueprint. Throughout the planning process we work to prioritize the clients’ needs, wants, and wishes in a way that connects all of their resources to What Matters Most to them.
Step 3 > Gap Analysis
In this step we spend as much time as needed to analyze their family (or business) investments, assets, liabilities, inflows, and outflows in the context of their goals and objectives. Our goal is to identify the gaps in their current financial plan, including any issues, problems, or opportunities that need further research.
Step 4 > Blueprint Presentation
At this meeting we will present our initial observations and highlight the gaps and opportunities we’ve identified in building their Blueprint. We’ll walk them through the details of their financial Blueprint and we’ll spend as much time as needed to answer all of their questions. We’ll then outline a financial planning agreement including the cost of our services should they wish to hire us to build, implement, and monitor their financial plan for one year.
Step 5 > Strategy Recommendations
Once they have selected Archetype Wealth Partners to serve as their fiduciary financial planner, we will formalize a comprehensive plan with specific strategic design recommendations, action steps, and an implementation timeline. The implementation of our financial planning recommendations is always at the client’s discretion.
Step 6 > Plan Implementation
The next step is the implementation of the ideas, strategies, and solutions we’ve agreed make sense for their family or business. This often includes the active oversight and management of their investment portfolio as well as coordinating with their team of advisors (CPA, Attorney, insurance agents). Should they decide to use our investment management services, a separate advisory agreement will be provided for that portion of their portfolio.
Step 7 > Plan Monitoring
We understand that the clients’ situation may change over time. Our team offers to meet with our clients regularly so that we can determine if (and how) any of their life changes will impact their financial goals and objectives. We will also offer to help clients organize their key financial documents and important personal data on our secure financial planning website. At their one year anniversary with Archetype, we will offer to review the progress made on their plan and discuss any adjustments needed.
Qualifications: Above all else, the successful candidate must believe in the core values of Archetype Wealth Partners and be driven to help clients connect their financial planning decisions with their vision, values, and purpose.
We are seeking a candidate that has a strong desire to help individuals, families, and business owners achieve a greater degree of clarity, confidence, and contentment through holistic financial life planning.
The successful candidate will most likely have at least 2 years of business experience in a small business environment with at least 1 year of training in the personal financial advisory field.
Additional requirements are:
•General Qualities — highly detailed and organized, constant desire to increase financial planning knowledge and communication skills, clear focus on meeting client needs in a team environment, ability to collaborate with the financial planning team (including the clients’ existing team of Financial Advisors) and the ability to efficiently share knowledge and resources with others for the purpose of delivering an extraordinary experience for our clients and their families.
•People Skills – confidence interacting with older and knowledgeable high net worth clients and other stake holders.
•Communication – ability to clearly and succinctly communicate both verbally and in writing. The ability to clearly present and effectively communicate (in person) a new idea, perspective, or different opinion in a way that makes sense and is connected with the clients’ goals and objectives.
•Action Oriented — strong work ethic and takes initiative when faced with challenges; able to act and react as necessary, even if limited information is available; not afraid to make quick decisions when needed. (Has the ability to help clients make wise financial decisions.)
•Technology Savvy – innate ability to understand technology including cloud-based software. Able to quickly learn MoneyGuidePro, Black Diamond, Redtail, and the Charles Schwab Institutional platform for customer service.
•Educational Background — four year undergraduate degree required (or in progress) preferably in financial planning; business, finance, economics, or related fields. Basic understanding of financial planning strategies for high net worth clients. Significant consideration will be given to candidates who are (or are working towards becoming) a Registered Paraplanner, CFP, CPA, ChFC or CLU. Series 6, 7, 63 or 65 is a plus but not required.
Additional Duties/Job Description: • Work closely with and learn directly from Director of Financial Planning in preparation for full time position as Sr. Financial Planner • Regular communication with clients and custodians • Analyze multi-year cash flow projections for clients involving taxable distributions from mutual funds, stock option exercises, multiple income sources, and withdrawals from retirement accounts • Perform probability analysis on sustainability of cash demands on retirement accounts and explain results to clients • Implement optimal asset allocations and portfolio rebalancing based on client risk-tolerance, cash needs, and tax efficiency of assets within taxable and tax-deferred accounts.