Asked on 12 Jan 2020
Hey all, was wondering if being a FA part time is viable while having a FT Job. I am interested in the industry and wish to make the transition when im able to make a stable income from it. A little info about me, im 23 and am working FT currently (poly graduate). Could any FAs or people who went through this path advise ? Thanks a lot! :)
Our FA industry needs professional individuals. At least you mentioned "wish to make the transition when im able to make a stable income from it." It is important for everyone in the FA industry to be fully committed.
The FA business is a results based business and there are a few revenue streams. I've this video that should help you.
Think through these two questions
1) What are your plans to commit time for training and developing skills and knowledge while being part time.
Have a goal and a drive to accelerate it.
2) Do you have a foundation on doing marketing to individuals? If not what do you think is a possible solution to do well. Be hungry in learning and unafraid of rejection.
Hope you've gotten some answers!
I'm also currently juggling with FA and another job just like you! For me, I'm also 23 years old and I'm handling my FA business while pursuing a degree in university as well.
I think for yourself, you should have a clear goal of what you want to achieve from both jobs, because I entered the FA industry to improve my inter-personal/social skills which I've seen progress over the past year. Besides that I've been able to pick up knowledge on personal finance and investments, and I'm sure as I grow more into the FA industry, there will be so much more for me to learn as well. All of which the schools in singapore do not teach.
So I guess what I'm trying to say is from the 2 jobs, what skills and goals are you trying to achieve from it? And how does the job help you into getting to the next step, in terms of skills and goals? After attaining them how will it help your actual day to day life?
P.S. You mentioned how you had interest in the FA industry, mind if I ask in what aspects are you interested in? Can drop me an email because as guy like your age, I'm also interested to know what drives young people like us to enter the financial advisory industry.
Good luck in whatever you do!
Yes since you are still young. Commit everything you have to doing a good job in both your full-time job and part-time FA job. Learn as much as you can. You will not have a life but that's the focus and commitment it takes to find out what you are better at.
Do it for a while then choose the path you want to take. Don't keep juggling 2 jobs. Eventually you have to pick the one you are best at and strive from there.
It's an option but it'll be very difficult. Being an FA is like being a business owner. The only thing you don't have to worry so much about is your product. But everything else from lead generation to sales to administration to accounting is your responsibility.
And even if you do try it out part time, you won't have enough information to know whether or not you can do it full time.