An Investment Assistant Works Hard for Your Money
by Ellen Foster
Career School Directory Columnist
August 03, 2006
Wynn Walters has quite the business education. She earned a Bachelor of Arts degree which she followed with a degree in court reporting. However, she never dreamed of the fun and success she'd find once additional business training led to her career in finance. Below, Wynn reveals the real life education she's attained in the last ten years of her career as a registered investment assistant.
CSD: I'm curious about your business education. You work in finance--how does a court reporting degree fit in?
WW: Surprisingly nicely! At the time I studied court reporting, everything was becoming computerized. The education and experience gave me the computer confidence I needed as an investment assistant.
CSD: What about your BA degree?
WW: My BA gave me a well-rounded education. I studied foreign language, science, and finance and was quite involved with extra-curricular activities. I learned how to manage my time, prioritize, and problem solve.
CSD: Prioritizing and problem solving sound like good business training--things you need to excel in as an investment assistant. How did you land that job?
WW: I was teaching classes in court reporting and working at a bank when a friend called to say her husband, an investment broker, needed an assistant. I had no idea what the job entailed but agreed to come down to his office. When I got there, I realized many of the employees didn't want me hired--I had no experience--but Richard, my soon-to-be-boss, advocated for me.
CSD: You had no experience! Did you have the right business education and business training for the job?
WW: Not yet. I would need to get my broker's license. They hired me because Richard was their top producer and they couldn't afford to ignore him. Once hired, I got my Series 763, which enabled me to work as a registered investment assistant. A few years later, I got my Series 66, which means I could work as a registered investment advisor. Right now, though, I prefer letting my boss make the really tough decisions!
CSD: You have quite an education under your belt! What was it like getting those certifications?
WW: I received thick books to study after work. I also took a five-day crash course which was a big help.
Did you know that if you're hired as an investment advisor, your employer will often pay you to study for your certification? Find schools.
CSD: What do you do in the investment assistant business?
WW: My boss, the investment advisor, buys preferred shares of stock. He then looks for clients who have money available and would benefit from adding those shares to their portfolio. I call the clients to discuss his recommendations.
CSD: How do you use your business training and education on a day to day basis?
WW: Every day is different because the stock market is always changing. I work on a computer to import orders, transfer money, and write to clients. I spend the majority of my time with clients, on the phone or in person. It helped that during my undergraduate education I was exposed to a range of personalities and situations. I learned to work with different types of people, and adapt to different personalities.
CSD: It sounds like some of your business training has also happened on-the-job. What are some of the biggest challenges you face as an investment assistant?
WW: When the market is bad, people panic. My challenge is to appease, comfort, and maintain their confidence. I've found that during such times a phone call goes a long way. People just want to know there's someone they can talk to--we're all in this together.
An investment assistant usually spends most of their time working directly with clients. Find schools.
CSD: What aspects of an investment business job are most rewarding?
WW: I appreciate the diversity of the job. And the clients are wonderful and respectful. It's wonderful when they're grateful for my work and tell my boss they like working with me. I'm a hard worker who gives one hundred percent.
CSD: What's your work schedule like? Do you conduct business at home or at the office?
WW: Officially, I work from 8:00-4:30 with a half hour lunch. But I'm there to do a job. I prefer to stay until the job's done. Much of the work is time sensitive and depends on when the market opens and closes. I have to prioritize. I'll take work home a couple nights a week. It's well worth not having to feel rushed in the morning. Filing is my lowest priority, so I sometimes go in on the weekends to get that done. I take pride in the fact that I make very few errors.
CSD: What are some of the biggest myths about a business career as an investment assistant?
WW: That we'll make you money! No, I'm just kidding. I can't really think of a myth. I went into this job without expectations because, to some degree, I didn't know what it entailed. Now I know that my boss has a depth of knowledge many investment advisors don't. It's rare to have expertise in estate planning, power of attorney, and health care power of attorney.
CSD: Do you make a comfortable living as an investment assistant?
A. In every way. I'm very lucky, I know. I'm well paid, and I look forward to going to work each day. Not everybody can say that.
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About the Author
Ellen Foster is a freelance writer living in Corvallis, Oregon. She does her very best to avoid legal battles of any sort.
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