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2023 Externship Survey Question :

What attracted you to the financial planning profession ?

what their motivations are for joining the financial planning profession . Their number one motivation , year after year , is helping people . It eclipses considerations like salary expectations , job demand and work / life balance .

LESSON 5 : Training is essential for success . The entire reason our profession exists is to evaluate and steward a client ’ s resources with strategy , wisdom and intention to help them improve their circumstances over time . And yet , within our own profession , we lag behind in recruiting , training and retaining our most important resource : talent .

After years of researching this problem with professional organizations , industry leaders , and universities , I ’ ve concluded that most firms are not structured for successful training and onboarding . It is through no fault of their own ; it is simply that they don ’ t have the personnel , institutional knowledge or outside support .

It was for those reasons that we created the Internship / Externship Program , which offers a framework to help firms successfully run internship programs . The program started after a number of firms approached my team asking how to host summer interns . By creating a program where the time and training burden is removed , we ’ ve found a new way to serve firms and the next generation of financial planners .

Looking Toward The Future

If I were to sum up everything I ’ ve learned in the last five years , it would be this : The financial planning profession has long been an excellent career choice . There are many different career tracks available , and when it comes to upward mobility , the sky ’ s the limit . But what we ’ ve been missing all along is a welcome mat .

I ’ m proud that the Externship serves as that welcome mat . But with the right consideration and planning , I believe we can all create a more welcoming profession , one that serves clients to an even higher standard and attracts diverse , talented individuals who are ready to make a difference .

HANNAH MOORE , CFP , is the founder of Guiding Wealth .

JUNE 2024 | FINANCIAL ADVISOR MAGAZINE | 59