Day in The Life of a Financial Advisor in 2022
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- Опубліковано 15 січ 2022
- Advisor Secrets Newsletter: josholfert.ck.page/2fad371c0a
Today we go through an extremely busy day in my career as a financial advisor while I meet with over a dozen of my clients to give them their annual reviews!
Instagram: / josh_olfert
Twitter: / josholfert
Haven Wealth Management: www.havenwealthmgmt.com/
Josh Olfert is a professional CFP financial advisor and the Founder of Haven Wealth Management investment fund based out of Winnipeg Canada. Through this channel Josh shares his knowledge of wealth accumulation and personal investing to the world, in an effort to improve financial literacy and help everyone achieve their financial goals.
All numbers and figures discussed in this video are purely for illustrative purposes and are not to be taken as financial advice.
Financial advisors save us money.
We appreciate you.
Wow. Thank you!
You seem very passionate about this profession, wished everyone could be like this with their job! Truly inspiring
I sure am! Hoping I can make a long career out of it (and maybe even a successful company).
Just got my first job with a wealth management firm! Love watching your videos, you work super hard it’s inspiring.
Let’s go!! Congrats Carson. You’re going to crush it. (And thanks for watching)
How’s it going 8 months later?
How’s it been since then
Great video. Having the opportunity to see the day in the life of an advisor is fantastic. Would love to see more of these.
Thanks for the feedback! Will do.
Raw, Real, and detailed. Great video!
Thank you John!
First time watching one of your videos man! Awesome to get a glimpse into the financial advising world. I went to school for finance with a focus in financial advising but took a job in construction management straight out of school. I am looking to change careers to financial advising. Do you have any recommendations on where to start?
Thanks for sharing awesome tips! I'm financially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits Ms important to get a mentor/coach to lead you all the way. It's great to start young too!
Hi, I'm 43 working on my retirement funds too
What do you think is the best target for retirement?
@@John-ly8ky Personally I think 1m is the goal to overcome inflation and having them in an investment portfolio is a perfect plan. I'm halfway to my goal 😇
@Priest Lee yeah. Fees and commissions are factors to look at in search for financial advisers. There's financial experts out there who do not look at their fees but the impact and intrinsic value they bring along to you no matter how little you want to start. I'm glad I had one guide me start my financial journey
@Christabel I work with Rachel Blanc, her services are cost effective and very efficient.
I recommend her to anyone, anytime any day. she's really great
You can do your own due diligence
Any way to reach Rachel?
Great video, first one I’ve seen from you and I learned a fair amount from just this Day in the Life video !
Thanks for watching! Glad to have you.
Salute to all financial advisors out there! Thank you Josh for giving an example of a productive day. I'm just curious as to where and how you generate leads that bring in more prospects and eventually clients?
Great video and thanks for the shoutout! That conversation with your barber should be a video. Would be dope
My man!! Thanks for watching again. Glad you got to see it. He and I have tossed around the idea of doing a podcast while I get my haircut lol. Our talks are dialed.
I really want to be a financial advisor. I love my accounting classes so far but this is so interesting! You gained a subscriber
Happy to have you Jay!
Hi! I am new to your channel and the amount of info is amazing! thank you so much!
Thanks for stopping by!
Love your content! Currently studying BBA, with hopes of one day being a financial advisor as well.
Thanks for the feedback Cole! Glad you're finding these helpful.
Great video, can’t wait to start working and building my network!
Unreal vid Josh. Keep it up!
Thanks Terry!
Awesome video!! Get to see what my future career typical day looks like!! I’m so excited!!
LFG!
Awesome video! Thank you!
I've been looking into careers that I would be interested in (as a 21 year old) and financial advisory looks to be one of the higher careers on my list! Thank you so much for the insight on the video, keep doing what you're doing! Have a good one!
How can I get a good financial advisor?
Amazing video,A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $110k and in the first 2 months , my portfolio was reading $294,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Amazing video! I’m studying for all my series to become a FA but excited to start to educate the people not how to make money but how to keep it and allow your children to enjoy the fruits of your labor!
Love it! Best of luck Jamal!
Very good video 👏🏻👏🏻
I was doing a interview process for a big financial company here in California.
I got my license to start working as financial advisor.
But, before I start working for this company the manager don’t get my calls, answer me very late and is not showing availability now.
Now I’m confused if it is really a good thing to take this risk or another carrier.
As of right now I just dropped out of healthcare to follow my new passion of business and finance. I’m a freshman in college and I bought my first rental last year. I think this is truly the path for me as I love managing money, investing, and helping others do the same. Do you think I should work full time right now until next semester starts when I start my classes for this profession or would an internship be a better idea?
Hey Josh, just wondering for time 5.50 what is the spreadsheet for how you use it for client actions ? thanks for the help and your channel has so much valuable info
This was a fantastic video. Just subscribed!
It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.
Hello Josh, what are a few of the tax strategies you use for your clients?
You’re awesome dude well done keep the good work up 🥳
Thank you!
What are your thoughts on starting out as part of a team and working under a more experienced advisor? Would love your take on it. Great content as always! Sooo motivational!
Thanks Spencer!!
Depends what you're optimizing for: Freedom or Security? Does your mind beat itself up more when you're forced into someone else's schedule, requirements and deadlines OR when you're not in control of your own progress and success?
Going with a more experienced advisor is trading Freedom for Security. It will be much more stable, but you'll be sacrificing the ability to progress at the rate of your choosing and your ability to work on your own schedule.
Building up your own book from scratch trades Security for Freedom. The first little bit will be extremely difficult and volatile. But you'll be able to go at your own pace, set your own schedule and 4-5 years down the road be the captain of your own ship.
The second was better for me, but I completely respect the first option too. Everyone values different things.
Start my internship this week as a financial advisor nervous but ready for the challenge!!
Awesome! You got this!
How’s it going man? Looking into finance industry for school and considering. Genuinely hope it’s going great!
Your channel is amazing.
Thank you Robert!!
Great video!
Thank you! Appreciate you taking the time to watch.
Amazing mate
Weird question.....do you use Orion? Your screen looked like it was Orion Software.
Thank you for this awesome video!
Whats the pay like?workjng for yourself and for a firm?
hey man i've been researching about pursuing this finance degree (for big paycheck) or medical degree (since i enjoy science) but idk man no matter how much i research i can't seem to put out a clear answer. i do want to enjoy my 20s and become financially stable at 30s or 40s at least and live my life traveling around. lets say i got a medical degree but can i switch and do business with that and what if i went with finance and got fed up with numbers, sitting at the desk all day and wants to be a doctor then. working in a company sounds nicer than in a hospital to me but idk both are so so
Curious on your opinion, becoming a financial advisor at 30 years old… late to the party? Coming from accounting background
Its the opposite! I'm patiently waiting for my 30s for business to really boom. Typically most advisors find 80-90% of their clients are +/-10 years of their age. So when I started out my range was 9 years old to 29 years old. If your starting range is 20-40 that's much more feasible. I know many people who only started in their late 40s or 50s and still found massive success.
I have a IRA annuity that gives me interest income on monthly basis, can the monthly income be converted to Roth by first rolling it over to ira rollover account(no tax on monthly income) and then converting(pay taxes) to Roth, it should be conversion not contribution. because contribution will have a limit of $6000/$7000 but conversion will not have any limit. Goal is to increase amount in Roth breaking the barrier of $6000/$7000. No where in google search some has asked this question.
RRS(P) pre-tax
TFS(A) after-tax
Maybe this is second nature to know for Canadians, but this helps me remember, as an American.
I’ve honestly never even heard that before. That’s a great idea!!
You could still manage 401ks for clients with companies like Pontera.
Awesome video. I have an internship coming up with a firm. I also give bits of advice on my channel. I love this stuff.
Awesome!! Glad you got some value out of it Troy.
**TL;DR at the end**
Hey, fellow Canadian brother! First of all, great videos, great information, love your energy.
I have been working in real estate for the past 12 years in the province of Quebec and I am thinking of switching over to the financial industry, as I have completely lost the passion of real estate and I have been pondering about being a financial advisor for a better part of a decade now. Watching all of your videos, would you say there should be something more I should do, as a resident of Quebec (As our laws and what not are slightly different)? And would you consider going to CSI to be a good option?
TLDR: I'm a realtor; thinking of changing careers. Is CSI a good school for this? Thanks.
Hey Eric! Yes. CSI is typically the industry standard up here in Canada. Starting with CSC is never a bad bet. However, more of your success will come from your ability to built a clientele. Your experience in real estate will help you immensely here!
Fantastic. Thank you for your time and I appreciate folks like you giving others the time of day to inform the people with inquiries.
No problem! My pleasure! Thanks for giving my channel a shot.
lol you answered the question about the tax strategy. I did not realize you are in Canada. I am in the US.
A large portion of our viewers are! Its difficult to create videos that cater to both at once.
Thanks for the video! I'm currently a business administration major and have been preparing for a few months to become a financial advisor (reading recommended books, trying to learn more about possible masters and learning as much as I can about finance), and I was wondering if there was any chance I could do my senior internship at Heaven. The internship is a year away but I figure the sooner I start planning it, the more time I'll have to learn the things required for the internship, if it's possible of course. I take my chances here haha and of course I'll keep watching your videos because it's really great!
Hey Lee - first of all “Haven**” lol! Secondly, we’re all full for positions right now but feel free to check back later. There’s a “for advisors” section on our site where you can apply.
@@JoshOlfertCFP Thank you for your answer! I’ll go to check it then, and sorry for the small mistake haha
Great video mate! Really appreciate. Would you be able to talk about how you expose a clients needs and then go through the process of sales without being too salesy?
Great question! I'd love to talk more about this. Sales done correctly should feel like talking to a lifelong friend over a beer.
@@JoshOlfertCFP thanks! I’m also eager to learn about your meeting structure and review meeting structures, in particular the agenda, if you use one.
That was a question
Did college teach you what you need to know to actually advise someone? Or how did you learn all of this
How long are your meetings with each client?
Thanks for watching! 45 minutes on the low and and 70 minutes on the longer end. If its more than 90 minutes it should be two separate meetings or we should run it more efficiently.
Since you’re an advisor answer me this, does blue horse shoe love Anicott Steal?
About to start an internship in a few weeks. Any tips??
Take time to think about your WHY.
It will help you focus on what you want to do in this industry, determine fit for culture, etc.
Along with this get familiar with the firm you’re interning at to see what type of client(s) they serve so you can see where to make impact. Good luck👍🏽
is there classes for this?
Too many 😂 ua-cam.com/video/d8m4LUC5h5Y/v-deo.html
9:02 this dude gets it
When you earn money with commission, are you taxed like a regular job income? So if you make 500k....you only end up with half? 😐😯
amazing v
With AI on the rise i am worried if my future job as owner of my own financial advisory firm will be put in jeopardy. Btw I’m 16 yrs old. Will people not have an ai finance website where they can spill their entire financial situation and then the ai gives them a tailored answer to their own circumstances. This can be said for many jobs but what do you think about financial advisory 40 years out
Hey Evan! Are you on the newsletter by any chance? If not, that's hilarious timing. I just sent out my thoughts on this to our readers this morning. You can opt-in here: josholfert.ck.page/2fad371c0a
@@JoshOlfertCFP I just signed up. Do I get access to the ai article you are referring to or only future articles posted? Thx
@@evanwynne8558 I just sent it to your inbox
Are you working for yourself or with a company
I work for myself! But this really means that I work for my clients instead of my employer. Instead of being worry if my boss or firm is happy I'm worrying about whether or not my clients are happy. There's still stress but its a better kind.
@@JoshOlfertCFP I’m wanting to get into this kind of thing. Probably going to speak to my dads friend who is a financial advisor soon. Would you say this profession is something you need a certain degree in, such as finance or is it something that can be learned? I’m about to graduate college with a degree in general business and I’m just wondering how difficult it would be to adapt or even get hired somewhere in the first place
Hay quá
You are able to manage the 401k as an advisor, I am just learning, sorry if the question is elementary.
In Canada we have what's called GRSPs. This is kind of the equivalent of a 401K in the states. Up here advisors can offer these to employers OR help clients transfer their group plan (GRSP, 401K) to their individual plan (RRSP, IRA) when the leave their employer. Not crystal clear on whether or not it works this way in the US.
You think being a financial advisor is good start to becoming a professional trader
Microsoft office 2007?
Yep ... lol.
Rip Bff 😭
the way you pronounce Javier is concerning
talking waaaay too faast
What are some of the skills that you must instill to be a successful and a professional financial advisor?
Specific skills.
Thank you for your time Josh!
No, thank you for yours!!
I think at the end of the day you’re trying to build a deep sense of trust with people.
So in that case the most underrated skill is sales - not the pressure used car salesman type of sales, but the “I’m going to see if you’re a good match for what I do, and IF YES I’m going to
make it happen and keep you accountable because I’m the best person for the job” type of sales.
So sales means: storytelling, being an active listener, the ability to match someone’s problem to a solution in a compelling way, getting things done on time, following up, reviewing and revisiting regularly.
I did 18 months in car sales to prepare for this. It was way different but unbelievably helpful.
Lastly, deep domain expertise in financial planning, investments, taxation, insurance and corporate structure - but that’s obvious.
You combine the two and you’re golden.
Hey Josh! This is such an amazing video. I really enjoyed and benefited from it. Thank you!
I have a financial planning degree and CSC certificate here in Ontario and I'm trying to get into the financial industry. Any advise or tips on what to expect or do/don't yes/no? Haha
Hey Ali! Thanks for watching. Are you on the newsletter? Check out the link in the description of one of my more recent videos. This is where you can get a hold of me easier.
Hay quá
Hay quá