The investment planning industry can seem like an intimidating field to break into. If you’re a recent college graduate, you may look at suave, well-groomed, older investment planners and wonder where you’ll fit in, especially since many positions require prior experience.
The good news is that there are steps you can take now to continue building relevant skills, gain exposure in the industry, and position yourself for success. From certifications to portfolio building, you can create a strong foundation for your investment planning career. Find out how below.
The Gold Standard of Industry Certifications
Certifications prove your credibility and enhance your foundational knowledge. A few key certifications you may wish to consider include:
l Chartered Financial Analyst (CFA) Level 1—a globally recognized certification that is particularly helpful for new financial planners.
l Certified Financial Planner (CFP)—The next step if you’re interested in personal financial planning and directly advising clients.
l Financial Risk Manager (FRM)—The next step for those interested in financial analysis and risk management.
l Securities Industry Essentials (SIE) Exam—This exam is a prerequisite for many service roles. It also demonstrates fundamental knowledge of the industry.
Communicating certifications to potential employers can help you stand out from other candidates. If you’re wondering how to format a resume to include your certifications, it’s easy. Create a section heading entitled “Certifications.” List them along with the year and certifying agency. If you’d like to include more specifics or take advantage of keyword opportunities, use bullet point descriptions.
Case Study Engagement
Case studies simulate real-world investment scenarios to provide practical experience. Many are university-sponsored and analyze previous investment cases handled by top firms.
For example, you might participate in the CFA Institute Research Challenge. It is “an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis and professional ethics.” Publicly traded companies are used as the basis for the participants’ reports and presentations. Like internships, you can include participation in your Experience section.
Build a Personal Investment Portfolio
Investors usually seek a diverse portfolio; you should, too. Did you know that you could leverage your personal investments as experience? Consider yourself your own first client.
As a recent graduate, you may not have a lot of capital to invest, but you can still get started. Check out simulated trading platforms like TradingView or Investopedia. There, you can practice your investment strategies without incurring financial risk.
You can also begin investing small sums of money using platforms such as Robinhood or Fidelity. Along the way, document your investment decisions. Keep track of what you’ve done and analyze what has worked and what hasn’t. Write case studies on your experiences. Use publishing platforms like Medium or LinkedIn to get your case studies before the eyes of potential employers. Reading about your thought processes, risk assessment, and market understanding can increase their confidence in hiring you.
Network
Creating connections with other industry professionals is vital to your career growth. There are several ways you can build connections with other financial professionals. Start by linking to people you know on LinkedIn. This could include professors and classmates. Seek out every new connection you meet in person on LinkedIn.
You can also attend industry events and conferences. These might include investment summits or CFA meetings. You could also join professional organizations such as the Financial Planning Association (FPA).
Pursue mentorships with those you meet. Ask them questions, and learn from them.
Internships and Entry-Level Jobs
Paid or unpaid internships are a great way to gain experience, and they can be included in your resume Experience section just like a job. Look for client services, financial operations, or data analysis internships at investment banks, wealth management firms, or financial advisory firms. You may also seek rotational programs that allow you to spend time with various aspects of the business.
Similarly, you can seek out entry-level jobs at these same institutions. You may have to take an adjacent role at first rather than the one you want. Even a role as a teller or receptionist could help you get your foot in the door, so to speak. Then you can be vigilant for upwardly mobile activities. Often, companies love to hire internally, because you’ve already had a chance to prove your work ethic and interpersonal skills. They know you’ll mesh well with the company culture.
Key Takeaways
Gaining initial experience in financial planning requires strategy, much as your financial planning itself. You can get certified, participate in case studies, network with other professionals, and take on internships or entry-level jobs. These things will help you build a firm foundation for your career and demonstrate yourself as a competitive, ideal candidate for future positions.
Take the initiative. Demonstrate what you can do. You will thus increase your chances of landing rewarding roles in investment planning.
