Financial Advisor vs Financial Planner vs Wealth Manager - Is There a Difference?
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- čas přidán 7. 09. 2024
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this content is absolutely brilliant. I am about to graduate from UCLA's CFP program w honors this Fall and there are so many questions I still have. No doubt I will be watching all of these videos. You have a big fan here.
Thanks. There's a community too!
Https://djh-capital.com/jumpstart
If you're a newer advisor and need help with sales, join my free community by clicking the channel banner
In most states insurance sales individuals may not refer to themselves as planners.
Great content and great video, Dom! Keep it up!
Whats the difference between portfolio manager and CFP?
Do portfolio managers have to worry about finding new clients? Or they just deal with investments all day
In most instances they just do investments.
What if you want to help “advise” individuals with budgeting their income? What licensing would be required? Are the Series 7 and Series 66 still required even if you’re not selling securities?
Hi! I recommend reading this blog post:. djh-capital.com/blog/financial-coach-vs-financial-advisor-whats-the-difference-featuring-whitney-hansen/. If you tune in tomorrow during my live session I'll try to address on air. Thanks for watching!
In short, no. You only need the Series licenses to be able to recommend and transact securities.
You can charge money to consult people for their budget, debt management, etc without any credentials. Just look at people like Dave Ramsey who sells books and seminars on money management, but he has no financial degrees, certifications, licenses, etc. That’s because he’s not selling a financial product, he’s selling his ideas on how to use products.
Hi sir, I have a question. why wealth management is an investment advisory service? hope you'll reply thank you
wealth mgmt and investment advisory are synonymous to a lot of people. don't really understand what you mean by "why"
Hey Dominique great video, I just finished watching this video, and I don't think this is a career for me anymore I thought if I went to college to get my undergraduates to get my Ph.D. in finance and economics I will be making more than 6 figures starting off
The money comes after you do a good job for clients...not beforehand
Great video!
Hello, I have a question that I haven't found in your videos. What is the title for someone who can help advise on the current small business loan offered by the government and help you decide whether refinancing a mortgage at this time is "worth it"? Thank you so much for your content! I follow your channel bc other finance gurus approach finance from a "Sales" point of view and I like that your channel is dense with information! It really shows how much time you invest in your channel.
+Brianna McCullough don't think there is a designation for the former but the latter is a mortgage broker.
Just reading thru the provisions and providing free content on how to utilize will attract eyeballs though.
If I pass my series 7 and 66. What would be jobs available to me? And second question what would be the next career step after those for further management progression?
What do you want to do?
Do you know about Chartered wealth manager (cwm) program?
I have a degree but it’s in psychology but I love the financial field. Is there a way to get in the field without obtaining more debt for another degree?
Depends on your path. The short answer is " no"... experience will trump education all the time😉
Dominique Henderson to be clear are you saying no I don’t need another degree if I have experience, or no I can’t get in the field without a finance degree?
@@shoppinmal Correct you don't need another degree. For example, you can earn the CFP designation without a finance degree. You just need a college degree. Make sure you hop on my email list and get my guide. Good resource for you: djh-capital.com/jumpstart-career-guide/
What other titles for financial professional have you heard?
portfolio manager.is it???🙄🙄🙄🤔
sad no caption. I am deaf and would love to know what you are saying
CZcams actually produces these automatically. You just have to turn them on
Can. You go from a data analyst to. Cfp? I have a degree in biochemistry is their a way for me to get into this industry.
Of course.
To start the CFP journey all you need is a bachelor's degree. Just find a great educational program to learn the 6 steps of the financial planning process and fulfill the education reqs.
Sign up at CFP.net
If my desired college isn’t on the Cfb board registered programs, but has a finance degree program that can be obtained, will I be able to sit for the exam??
Hey Caitlyn...great question.
1) In order to sit for the exam you will have to have attended a “registered” program.
2) If you’re school doesn’t have one then I’d recommend the following:
a) submit a transcript challenge to receive credit for any classes that may satisfy the education requirement;
b) register with an education provider (I.e. Dalton) to fulfill the remaining education requirement + capstone.
Afterwards, you will not only be eligible but also ready to take the CFP exam.
I hope that helps!
My father made a lot of money on his own with the stock market however he did hire a financial advisor before he passed this year to help him setup a trust and everything so the wife would not get everything. Well now that he is passed Im not sure if I should continue to use this fee only advisor or just go it on my own. The advisor is choosing stocks well I should say his team several folks with about 15yrs experience each involved on this team. I considered just going all in s&p 500 etf instead of paying 1% fee of all the assets. He only deals with high wealth clients if that matters. 500k or more. What are your thoughts?
VapeKing thanks for watching!
I'd have to say that I believe in financial advice and the value of it. I don't think many people can navigate all the biases that keep us from managing our own money well. (i.e. I have an advisor)
That being said, you shouldn't stay with someone unless you fully trust them and can follow their advice. The value is not in the stock picking per se but in the other decisions they help you make that involve money.
I hope that helps.
Yes sir that makes me think I might just be better off sticking with him. I dont have any way of knowing if he is good but Im pretty sure my father would not have hired him if not. I just worry sometimes about the fees eating it up but he may very well earn enough to cover that. I suppose only time will tell. Thanks!
You are welcome. Good luck!
P.S. if you want a complimentary independent review of the portfolio, email at info@djh-capital.com
How do you find a good professional in your city- looking for the Philadelphia area
Letsmakeaplan.org
Nice vedio
🏁