Law school or financial planner

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tbird
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Joined: Fri Jul 06, 2012 12:09 am

Law school or financial planner

Postby tbird » Mon May 06, 2013 2:36 am

My situation is a choice between a top 25 regional with an 80% tuition scholarship, and a career as a financial advisor. I have an engineering degree and don't enjoy it, but have connections with a few ip firms as well as a few companies and their in house ip guys. I think there is a good chance I get a job doing prosecution post law school. The other option is a business connection that is a one man show and has an independent financial planning firm. I really trust the guy and would like to work for him. He is recruiting me strongly saying that he wants an apprentice and is looking for someone to sell the business to. His current income is over half a million per year so I think I could make more money with the planning, but wonder which career will be more enjoyable/challenging. I also think finance will give me a better family life and time with the kids, but worry that having no control over the market could drive me crazy. i see pros and cons to both. I am looking for constructive inputs and opinions. Thanks.

20141023
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Re: Law school or financial planner

Postby 20141023 » Mon May 06, 2013 3:08 am

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Last edited by 20141023 on Mon Feb 16, 2015 12:18 am, edited 1 time in total.

Lumieres
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Re: Law school or financial planner

Postby Lumieres » Mon May 06, 2013 10:01 am

law school will always be around. give the job a shot. if it doesn't work out, you'll know what to do.

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Danger Zone
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Re: Law school or financial planner

Postby Danger Zone » Mon May 06, 2013 10:04 am

Lumieres wrote:law school will always be around. give the job a shot. if it doesn't work out, you'll know what to do.

Agree with this, and just want to add: The most difficult part of being a financial planner is getting clients. If this guy wants to give you his book, you would be set for a long time with a steady check. Try it and see if it's something you'd like to do. If not, then you just walk away with a few years of solid work and life experience.

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Tiago Splitter
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Re: Law school or financial planner

Postby Tiago Splitter » Mon May 06, 2013 10:33 am

Being a financial planner is really no different than being a used car salesman. If that's your thing then sure, give it a shot, but it's not about managing money. And this guy isn't going to hand over his book of business to a newbie for nothing, so don't expect to skip any steps.

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Danger Zone
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Re: Law school or financial planner

Postby Danger Zone » Mon May 06, 2013 10:34 am

Tiago Splitter wrote:Being a financial planner is really no different than being a used car salesman. If that's your thing then sure, give it a shot, but it's not about managing money. And this guy isn't going to hand over his book of business to a newbie for nothing, so don't expect to skip any steps.

Classic case of "fake it til you make it" bro.

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guano
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Re: Law school or financial planner

Postby guano » Mon May 06, 2013 11:05 am

I'll second that being a financial planner is all sales. If you like sales, great. If not, don't do it.
Obligatory viewing: Glengary Glen Ross

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glebe
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Re: Law school or financial planner

Postby glebe » Mon May 06, 2013 12:14 pm

guano wrote:I'll second that being a financial planner is all sales. If you like sales, great. If not, don't do it.
Obligatory viewing: Glengary Glen Ross


Yeah, if OP enjoys the prospect of pushing annuities on every person that walks through the door, being a financial planner/advisor might be right up their alley. I worked in a similar position a few years back and, while it wasn't for me, some people seem to catch a real buzz from closing a sale. OP should also recognize that being a financial planner is not the same as "working in finance".

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TheBiggerMediocre
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Re: Law school or financial planner

Postby TheBiggerMediocre » Mon May 06, 2013 6:46 pm

This has been my part time job the past few years. I have netted enough cash to put me through law school, assuming I get 70% off.




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