Informational Interview​

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I get a steady stream of people requesting informational interviews.

To save time, I thought I’d share some FAQs in this doc.

 

How do you become a financial advisor?

You take a super lame test called the Series 65. It takes about a month to study for. None of the information on the test is relevant to being a financial advisor. It’s a complete waste of fu*king time.

 

Once you pass the test, you now have to learn how to become a financial advisor. The best way to do that is to work for a financial advisor. Try to work for a fee only financial advisor. They’re the least douchey kind of financial advisor.

 

Can I work for you?

No.

 

What do you like about your job?

I get to help people every day.

I make a lot of money.

The hours are great.

 

What do you dislike about your job?

It’s repetitive. The first 1-2 years were exciting and I learned a lot. Now I can do it in my sleep. It’s rare that I’m challenged intellectually at work.

 

What do financial advisors do all day?

We all work differently. But here’s what I do…

 

20% sales 

I talk to people on the phone or over Zoom and try to manipulate them into hiring me.

 

40% making and presenting financial plans.

I comb through financial statements to figure out how a client’s doing at this point in time. Then we figure out their life goals. Then I make a plan that tells them how to get from where they are now to where they want to be in the future. Then I present the plan to them.

 

40% check-ins

I meet with all my clients 2x per year to make sure they’re sticking to the financial plan we made. I check on their investments, answer their questions and assign them homework.

 

Would you recommend becoming a financial advisor?

As much as I like it, I’m hesitant to recommend it. 

Financial advising is groovy.

Landing clients is not so groovy.

When you first start, you’re mostly trying to land clients. It’ll take a lot of grit. Most millennials are wimps and throw in the towel after a few months.

 

If you’re not a little wimp and stick with it, then it’s a good gig. You’ll get to help people accomplish their life goals while making good money. I feel close to most of my clients and I feel blessed that I get to support them through their lives.

 

How much do you make?

In 2023 I made $248,000 working 15 hours per week. I took 6 weeks of vacation.

The first 1-2 years, I didn’t make that much.

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Hopefully this answered most of your questions. If you’d still like to meet, you can treat me to lunch in the Inner Sunset. Please schedule a time here.