by Kevin
Our next guest blog post comes from Jake Weatherford. Jake is a graduate of Oklahoma State University and is currently a partner and wealth advisor at Castleview Wealth Advisors. I asked Jake to discuss how he determined that wealth management was a career that responded to his mission.
I have found that many individuals coming to the end of their college lives are unsure of where they want to focus their future, especially graduates with a finance degree. There are so many careers to consider...which can be exciting, yet completely overwhelming! Jake landed a role that was both rewarding and satisfying, along with a culture that aligned with his own values.
I am hopeful that this post from Jake will help anyone who is currently going through this process of choosing a career...
by Jake
So, you’re about to graduate college with a finance degree, yet you have no idea what you want to do. Guess what? You are not alone!
The purpose of this blog post is to give you a concise “map” designed to help you navigate your job search. Instead of providing a list of different types of jobs and explaining the pros and cons of each, I invite you to take a brief walk with me down the path I took. Understanding why I made certain career decisions will enable you to do your own research and make the best decisions for you and your future family.
My interest in finance began in high school, when I wanted to learn how to make money. After many discussions with my father, he opened an IRA for me and funded it with $1,000. But after six months I had only about half of that. Surely there must be a better way of investing money than just picking random stocks based on my own limited knowledge, I thought.
That’s when I set out to learn as much about different types of investment vehicles as possible. Throughout my college years I read books, met people in the industry, took as many classes as I could on the subject, and sought out opportunities to serve as an intern. The one problem I had with each finance internship I took was that I felt I was not actually helping other people. This was certainly not true, but it was nonetheless the way I felt. In virtually all corporate finance roles, individuals help others by funding projects, forecasting sales and production data, and performing many other duties. For me, however, there was a yearning to directly improve people’s lives. Since I nearly pass out at the sight of a skinned knee, I knew that being a doctor was not the best way for me to help others.
As I continued to explore my challenge of how to help people in a meaningful way (without having to do open heart surgery), I finally found exactly what I was looking for. When I met Kendall King, founder of Castleview Wealth Advisors, I knew his firm was different from all the others I’d interned with or interviewed with. Kendall recommended investments based on academic research instead of a hunch. He was paid by a fee of account instead of a commission to recommend a certain investment. He explained that fee-compensated advisors take a unique approach to investing. Advisors who are not paid more money to recommend one investment over the other are naturally motivated to make sure their clients do well.
Let me be clear: This is not a post about fee only vs. commission. I have certainly met plenty of great people who work on commission. In my opinion, Kendall King’s choice to be paid by fee only felt like the best way to be compensated. More than anything, I could tell Kendall truly cared about his clients.
My desire to help others in a meaningful way and to be compensated in a way that ensures my clients’ best interest is what guided me to the role I’m in today: Partner and Wealth Advisor at Castleview Wealth Advisors.
My desire to help people extends beyond my clients. These days I equally enjoy helping others drawn to the field of finance as they embark on their professional careers. That’s why I want to share with you what I like to refer to as “Jake’s Three Keys to Entering the Financial Services Market.”
Key #1: Before applying for a job and then forcing yourself to fit into the role, look at the people currently in that roll. If their core values don’t line up with yours, it’s probably a good indication that you need to look elsewhere. If the guiding principles of the individuals within the company do line up with yours, it’s a good indication that you will enjoy the career you are about to embark upon. One effective strategy to ensure you are true to yourself when making employment decisions is to write down your core values and your goals prior to your first interview. Doing so will help you approach the interview in a mindset of not only being interviewed, but also of interviewing the company that you might work for. Asking about the organization’s core values will help you evaluate the company and will illuminate the values that are important to you.
Key #2: Don’t settle for the first internship or job offer you get. Your exposure to different types of organizations within the finance industry will only make you more valuable to the end company you chose to work for. Another way to get experience is to ask companies and individuals about available shadowing opportunities. I’ve found most people are more than willing to assist. Even if shadowing isn’t possible, they will likely take you to lunch to discuss their role and help guide you in your journey.
Key #3 This brings up the third and perhaps most important key: mentors. Get one! Most people are more than willing to give you advice if you just ask. Mentors allow you to learn from their mistakes without having to make them yourself. A mentor will introduce you to people who will help you make the right decisions throughout your career and will be there when you have to make tough decisions.
I’ve been very blessed to have mentors such as Kevin Lawrence and Kendall King. My goal is to extend the same favor they have shown me to others; therefore, if this post has helped you, then I invite you to reach out to me with any questions you may have.
JAKE WEATHERFORD, MBA, CFP®
jake@castleviewadvisors.com
To learn more about fee only financial advice, internships, and mentorship please visit https://www.napfa.org/
To learn more about ethics, standards, and the financial planning process please visit https://www.cfp.net/ and/or https://castleviewadvisors.com/