Question for any Certified Financial Planners:

I really enjoy helping friends, family, and co-workers with their financial plan and goals. I will be looking at my options for my next endeavor, after retirement, in the next 8 years. My goal is to become a Certified Financial Planner as a second job until retirement, in which time, may turn full time. I'm a first responder with a 2 days (48 hours) on. 4 day off (96 hours) rotating schedule.

I have been looking at the credentialing and education process need to complete my certification. I have no problem completing the course work, but my question is concerning the 5000-6000 hours of client interactions I would need to complete. Obviously, I would need to work for a company to complete these hours. Do you think it is possible to complete the hours on a part-time bases and would a wealth management company hire someone with little experience in a part-time role with rotating days available. I would have about 15 weekdays a month (30/hours week) to commit to this. Any insight would be appreciated.

Hey - CFP here and just writing to encourage you in your journey hopefully. I took a similar path from the military, then MBA with a brief stint in corporate and have been doing this for the last 11 years. It's not easy to break into, but I think you are going about this the right way. I'd avoid Edward Jones or selling insurance etc...just my opinion it's better to start in an RIA.

Part-time roles are often internships or students, but I'm sure some firms would love to bring on someone with more life experience even if you don't have the education yet. Most likely this would be at a smaller firm, as it's a bigger commitment for them to hire someone full-time with benefits so that could be a good fit. Here is a posting on the CFP job board that fits this description...part-time internship that will hopefully grow into a FT role, though it looks like they do want you to move to Atlanta eventually. There are more an more virtual options too.

https://careers.cfp.net/job/34052/financial-planning-intern/?LinkSource=PremiumListing

Once your have a few years of experience under your belt and the CFP credentials you could consider going out on your own, though that requires some capital and connections too.

I went through this process over a decade ago so I'm not well versed in the test and requirements today, but it is a very rewarding career path with the potential to quickly ramp up compensation once you've earned your CFP.

Feel free to reach out with any questions! My firm hires interns on a part time basis so happy to connect you.

Is this a role that a lot of people transition into from another career?

I've always thought something like this might be something I'd look at when I finally reach the end of the corporate finance path for myself. That's getting closer and closer.

Would you be wanting this to be a virtual internship of sorts? Part time work? Expecting pay or primarily just looking for experience first and foremost?

We've not explored this idea before but would potentially be open to the idea of having a virtual advisor sit into meetings to learn and take notes.

Someone to prepare for meetings and such.

chris1515 said:

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Is this a role that a lot of people transition into from another career?

I've always thought something like this might be something I'd look at when I finally reach the end of the corporate finance path for myself. That's getting closer and closer.

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Absolutely very common...the CFP's I work with came from all walks of life and some transitioned later in life i.e. 40's or even 50's as a second career.

My vote would be to complete most of the CFP education component first so you know what you are getting into. That will also signal to any employers that you are serious. Some will help pay for the classes and certainly the test. Yes anyone can call themselves a financial advisor but the CFP adds a lot of credibility for clients too.

The hardest part of doing this later though is starting over in a sense down the pay scale. I took a huge pay cut from my corporate role, but after ~3 years I was back to where I started and then now many years later it's many multiples of that. Such a rewarding job too.