I am currently in the aviation career field and am looking for a change in career. I want to continue in the aviation field for now as I have a family and it pays decent money. What is the best way for me to transition into the financial advising career? I have just begun studying for the SIE since I don’t have to be a member of a firm to take it, but was just wondering what people’s thoughts and opinions are!
Hi @Kim_Willms - welcome to the Achievable community!
First - good news… you don’t need a firm to sponsor you for the SIE exam. You can register for the exam on your own! This Achievable blog shows how to do it.
Regarding your next career, I’d keep an eye out for local opportunities. For example, we have many big investment firms in the Denver area (where I’m from), including Fidelity, Charles Schwab, TIAA CREF, and TD Ameritrade. These firms are almost always hiring. First, find what firms are in your local area, then visit their website and look for the ‘Careers’ section. For context, this is Fidelity’s Careers page. Also look at the typical job sites - Indeed, ZipRecruiter, and LinkedIn are three which come to mind.
If you can pass your SIE exam before you start interviews, you will have a “leg up” on others applying for the same role. Passing these exams is not an easy task, and firms want candidates they know can make it through the licensing process.
You’ll probably get hired into some form of an entry-level role, which will be a bit of a grind. My first role was answering phone calls at Fidelity. While it was a challenging role, I learned so much in such a short period of time. Those who perform well in this initial role are typically promoted quickly. It may take a few years, but you could start managing a book of clients in a relatively short period.
I hope this helps!
I just want to add in on this real quick. I would highly suggest getting the SIE and 63 first, using Achievable by yourself. Study for the 7 and then get hired/sponsored to do the 7. Some firms hire you fresh and set you on a study path to get all three licenses, like I’m doing right now.
It’s a wonderful opportunity and all and I’m very grateful because this job was life-changing… but, good lord, I have to admit this: I never want someone watching me study, telling me when to study, and telling me what program to use to study for work ever again. We have to use a low rent program that doesn’t even compare to this site and the questions on the other program we’re forced to use are hot garbage. You get put on a condition of employment for licenses, which if you don’t pass the second attempt, usually, you’re out. Which just adds a bunch of stress on top of it to pass.
Basically, if you’re okay with giving up max 2.5 months of your life away with studying, including on the weekends if you’re really adamant of making sure you’ll pass applying without SIE and 63. If you want a bit less stress, get them on your own. My situation was a bit different, and the opportunity was going to slide if I didn’t apply back then, but if I had to do it again, I would study and get my SIE and 63 first, get a good hand on the content of S7, THEN go for it. Because this is really rough!
It’s very doable though! Just work really hard and study hard and you got it in the bag! I hope this isn’t too negative of a post either. If I could go back in time a year ago and tell myself to start studying, I would, ten times over!
Best of luck!