Unsolicited Advice for Everyone About to Enter Senior Year of College

Morgan Housel wrote a great post earlier this summer entitled “Unsolicited Advice for Everyone About to Graduate College,” which can be found here. On a similar note, here are a few words of advice for those about to enter their senior year of college…

Start looking for a job now. Don’t wait until the spring, don’t wait until a month before you graduate, and don’t wait until after you graduate. Start researching now so you have options. You don’t want to be forced to make a decision, but that is what will happen if you wait until the last minute. Many people who put off the search end up settling for what they can get.

Meet with your professors outside of class. By senior year you should know which professors you respect. Meet with them during office hours or ask them for a few minutes to chat. Professors love this, and you will get some great advice.

Enjoy socializing with your classmates. A big part of college is about making connections with your peers. I forget where I heard this, but “college is the time you’ll have the most freedom with the least amount of responsibility.” Enjoy it. You will never have so much time to figure out what you like so take advantage of this.

Start to create/clean up your online presence. Have a decent LinkedIn profile. Maybe starting thinking twice about your tweets before posting them. I have had multiple interviewers comment on my social media. They were positive comments, but the point is they will look before they hire you.

Take care of yourself physically. Fair or not, we are judged on the way we look. Adhere to general hygiene. Regular exercise, a quality haircut, and ironing your clothes will make a bigger difference than you might think. Fortunately, these efforts will hopefully result in greater confidence and healthiness as well.

Start staying up-to-date with the news in your field. Make a habit of reading books, blogs, and professional journals. Know a little bit about the industry. Have a general sense as to what is going on outside of the academic setting.

None of these pieces of advice are particularly crucial, aside from maybe the first. That being said, a successful experience is often less about making herculean efforts and more about doing the little things right while avoiding the big mistakes. As Darren Hardy writes in The Compound Effect, “small, smart choices + consistency + time = a radical difference.”

Why You Should Attend FPA NexGen Gathering

Ever wondered what it's like to hangout with over 100 NexGen Financial Planners for a weekend in Texas? Check this out:

Hosted at the University of Texas at Dallas, the 2015 FPA NexGen Gathering was held for the benefit of financial planners intended to be the next generation of the industry. Over a 3-day experience, planners from across the country were able to come together and share their ideas, feelings, and innovations to others in a similar walk of life.

The 2015 FPA NexGen Gathering was perhaps the most under-sold event of my year. I left the weekend buzzing on many levels and with a sense of motivation and direction.

I have to admit: When I first committed to the conference, I didn’t know exactly what I had signed up for. It took less than 24 hours to realize how good of a decision I made.

Some of you might ask, “Why would I want to go to something like that?” Good question, you might not want to go. But for those who are curious, here is my description:

The 2015 FPA NexGen Gathering was a weekend-long event where over 100 NexGen financial planners traveled from across the country to learn from and share with other motivated professionals in efforts of self-improvement and the advancement of the industry.

Each year the Gathering’s theme changes; the theme for this year was Building Community. On the first day, it was clear that a majority of young people in this conference had never actually felt like they were a part of a community. Speaking from experience, I know what it’s like to walk into a monthly FPA meeting and be the youngest in the room by 20 years or so. I don’t think that NexGen planners are intimidated by this at all, but it can leave one feeling estranged or alone.

So when FPA goes out on a limb and puts together a conference specifically for NexGen planners, I can see how some people can be ecstatic and how the rest can be hesitant. Even if this conference exists, what am I supposed to gain from other NexGen planners who are just as new to this as I am?

The answer: A community of people just like you.

Why did the Gathering hit home for me? Because I couldn’t believe how many other people were dealing with the same pressures and issues that I was dealing with. I love this industry and I love my job, but those internal victories come with their fair share of headaches and emotions.

The best part about the content of the conference is that you create it. For instance, how are you supposed to give financial advice to someone old enough to be your mother? There was a session for that. How do we give clients a great financial life, while we ethically ensure that we do the same for ourselves? There was a session for that. How hard is it to be courageous and start your own firm? There was definitely a session for that too. These were just some of the dozens of breakout sessions we created and participated in.

I sat amongst many entrepreneurs over that weekend and they all described in detail the struggles and successes of starting your own firm. They described how scary it can be to do something on your own. Ironically, everyone who took the risk of starting their own business was not actually alone. They have been successful through a powerful community which is NexGen.

The attendees of this conference are a minority group. Anyone who has devoted their lives at such an early age to this industry is, by all means, an anomaly. You might feel like you are one in a million, but you should know that there are others who feel exactly like you.

So who belongs at this conference? To paraphrase from my own summary (mentioned above), if you are one of the few NexGen financial planners who are willing to travel the country in efforts of self-improvement and advancement of the industry, this might be something to look into.

Within days of the conference, I had already implemented a number of key takeaways from my fellow NexGen’ers. Aside from the sound advice, I’ve made connections with peers (whom I now consider to be friends) who will be in my life for many years, even beyond my career in financial planning.

I look forward to seeing everyone again next year and, perhaps, meeting you there.

Three Candid Questions With Millennial Planners: Round Two

Bryan, Luke, and I answer three questions about transitioning from college, CFP® exam studying, and reading:

1) What has been your biggest surprise since transitioning from college to work as it relates to your job?

Bryan: Most of your peers will not share the amount of passion that you have for your particular career. You’ll find that some people merely followed the path of least resistance and “just took a job” after college, as compared to some of you who may have taken a leap of faith in yourself and followed your passion. Regardless of where you fall on that scale, it’s important for you to find the others who are like you and surround yourself with them to learn and grow.

Luke: My biggest surprise since transitioning from college to work has to be the difficulties of communication, and the attention that must be given to how information is delivered. Peer-to-peer explanations are easy; explaining an investment concept to a fellow investing buff requires little effort since you are both on a level playing field and have a similar foundation of knowledge. The same investment concept proves to be far more difficult to effectively deliver to a client; a financial planner must have a good understanding of who the client is and how they are going to interpret/respond to the information. There are many hidden preconceived notions and biases that often do not show themselves until a client’s beliefs are questioned by new information.

Joe: Understanding the technical side of financial planning does not matter if you cannot communicate effectively. This makes sense, but I had not thought of it until I started getting involved outside of the academic setting. The real skill is in explaining a complicated topic in simple terms. Storytelling, analogies, etc are important.

2) What is your number one piece of advice for preparing for the CFP® examination? 

Bryan: I’m a firm advocate of training your brain for the exam. On the morning of the exam, you want no surprises. You don’t have control over the exact questions that you will be faced with, but you do have complete control over the external factors, which include good sleep patterns, mental sharpness at 8am in the morning, and a test taking strategy. These exercises and practices are not only for test day; they are learned and implemented weeks and/or months in advance. I want to place extra emphasis on mental sharpness during morning hours by asking a question: if your exam begins at 8am and consists of 170 multiple-choice questions, when is the most appropriate time to study and what is the most appropriate form of practice for the exam?

Luke: I am currently studying for the November CFP examination. I feel that I gave myself much more time than most (~6m). This extra time has given me a chance to experiment with different study techniques to determine how I absorb mass quantities of data best. (Depending on results) I would recommend patiently trying out different study methods and honing in on what techniques maximize your productivity and effectiveness. 

Joe: Have a very detailed plan. Understand your plan will likely change over time.

3) What book have you read that you recommend others read too? 

Bryan: I recently heard (from what I would consider to be) a successful person say, “I don’t know any successful people who don’t read.” Yes, I have my favorites. But rather than give you one book suggestion, my ultimate suggestion would be to simply read. For those who want to learn and grow into their best potential at an exceedingly fast pace, there is no excuse for not reading most days of the week. My recommendation: read anything, today.

Luke: Book recommendations are tough. I have my favorites for both non-fiction and fiction. I am in my early twenties and I have to say Fooled by Randomness by Nassim Taleb has probably had the most profound effect on me. 

Joe: Quiet: The Power of Introverts in a World That Can’t Stop Talking by Susan Cain. A must-read if you are an introvert. Still good if you are an extrovert.