Finance consultant is a profession that’s more important than ever. The information technology revolution and the Internet have greatly increased the demand for technological solutions and products, and its finance leaders who help grease the wheels to make sure those start-up companies get going and succeed. Also, there’s a lot of money in the world seeking to find productive outlets. Communism in the U.S.S.R. and Eastern Europe is gone. China is communist in name, but capitalism in practice. The developing world is building wealth. Everybody needs money. Everybody needs advise on how to manage their money, as individuals and as businesses. Everybody needs professional financial services.
However, although business schools teach a lot, they cannot fully train a professional financial consultant or advisor. Therefore, the firms are doing it themselves. The CAPCO program is one of these.
CAPCO Associate Talent Program
The CAPCO Associate Talent Program (ATP) trains promising young leaders who are still new to consulting so they have the skills they need to perform. The new associates learn about the challenges financial institutions have to deal with. They must understand the regulatory framework the government requires them to work within. They looked for both new university graduates as well as more experienced people who wish to move up in their career. After their initial training, they are assigned to a team working on an actual client project.
Charles Schwab Financial Consultant Academy
Charles Schwab run Financial Consultant Academy to train new consultants. Schwab has two operating divisions. Investor Services is for individuals who need their financial banking, brokerage and insurance services. Investment advisors work with Schwab’s Institutional Services, and may help with administering benefit plans. For seven years in a row, Charles Schwab has selected by Military Times as one of the 75 Best Employers for Vets.
Merrill Lynch Practice Management Development
Merrill Lynch uses its Practice Management Development (PMD) program to train new financial advisors. PMD has been in place since 1946, so it’s developed and progressed a lot over the years. It gives new advisors the skills and knowledge they need to build, grow and manage a wealth management practice. They must learn how to acquire and keep clients. Merrill Lynch is also part of Bank of America, so the program includes banking as well. It lasts 43 months. It includes preparation for the required exams, Series 7 and Series 66.
New trainees can choose between the PMD Financial Advisor, Team Financial Advisor and Bank Team Financial Advisor programs.Comments closed