Financial Advisor Archives - Vanguard Careers

Making an impact through financial advice

September 21, 2021/in Advice from crew, Day in the Life, Voyage to Vanguard Financial Advisor /by

Making an impact through financial advice

When reflecting on my career aspirations, I’ve always known I wanted to have a positive impact on people and improve the lives of others. I’ve also always had a fascination with numbers and finance. In school, I found a cross-section between these two passions: financial planning! It was through my financial planning program that I learned how much of a difference sound and caring financial advice can make on peoples’ lives. It was also through this program that I learned about Vanguard: an industry leader whose mission is to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.

My passions and Vanguard’s mission led me to an interview for their College to Corporate internship. I was grateful to join the first class of interns in Vanguard’s Personal Advisor Services, where I quickly found that all crew share a similar passion for improving clients’ financial circumstances. Through this experience, I was able to see Vanguard’s approach to financial planning first-hand by working with advisors as well as sharpen my acumen skills by preparing a capstone project with colleagues throughout the duration of the internship. Upon graduating from my financial planning program in university, I was glad to join Vanguard as a member of the Financial Advisor Development Program (FADP). I wanted to make a conscious decision as to the best place to start my financial career, and Vanguard certainly supplied everything I needed, including resources and support to pass crucial industry certifications as well as beneficial hands-on experience working with clients. Vanguard was integral to my success in passing the Certified Financial Planner™ exam and truly helped to jump started my financial advising career.

Now, as a high-net-worth financial advisor, I am able to fully immerse myself in the passion that led me to this position. Every day, I positively impact clients’ lives and partner with them with the goal of financial success. When I talk to college students and recent graduates early in their careers, I always encourage them to find a firm that places an emphasis on early development of skills and gaining as much tangible experience as possible. I am appreciative to have found this program early in my financial planning career. The combination of my education, exam preparation, experience, and familiarity with internal processes makes me better positioned to give my clients the best financial planning experience possible, and I am grateful to Vanguard for giving me the tools and resources to deliver that to our clients.

-Mack G.

Tips to prepare you for the Certified Financial Planner™ exam

In studying for the exam, the best advice I can give is to acknowledge the breadth of the test, but don’t let it get to your head. I was overwhelmed the first time I received my study resources and realized just how much material I had to get through. “Focus on foundations,” as a colleague of mine would say during testing. The rest will fall into place over time. Trust the study path laid out to you by your testing provider, and don’t be afraid to experiment with different forms of studying. Some concepts are best retained through quick flashcards, others by drawing out diagrams on a board or walking through a case study. Reviewing alone will not carry you to the finish line. Studying in a group was key for my development and preparation. I am grateful to Vanguard for providing the opportunity to study as a group, as we all benefitted from each other’s strong areas and expertise.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.

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Exploring Advice with Vanguard’s Black Professional Network

June 9, 2021/in Day in the Life, Diversity & inclusion Financial Advisor /by manikantashetty

Exploring Advice with Vanguard’s Black Professional Network

My journey as a Financial Advisor

Growing up in a lower income community, financial advice was a concept not frequently discussed, despite its importance. This disparity is what led me to become a Financial Advisor, but most importantly, what led me to pursue my career as a Financial Advisor with Vanguard’s Personal Advisor Services (PAS). Vanguard stays true to its mission – to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success – and has been a trail blazer in doing this within PAS. I wanted the opportunity to be able to do what is best for clients from a variety of different backgrounds and levels of wealth, and PAS enables me to do this every day.

Joining Vanguard’s Black Professional Network

Professional development is a large part of why I enjoy working at Vanguard. Crew are always encouraged to continuously develop ourselves as well as those around us. As a member of one of Vanguard’s Crew Resource Groups, the Vanguard Black Professional Network (VBPN), I’ve had the honor of serving on a team within VBPN that has been tasked with creating and facilitating unique opportunities for crew to develop personally and professionally by building expertise.

Fireside chat

Earlier this year, we organized a fireside chat highlighting Vanguard’s advisory business, where leaders discussed how Vanguard is bringing advice to traditionally underserved segments at scale and shared career options and best practices for those interested in pursuing a career within Vanguard’s Personal Advisor Services group. The event featured two of Vanguard’s most prestigious women in advice, Janelle McDonald, Head of Product Management and Strategy for Personal Advisor Services, and Massy Williams, CFA and the Principal and Head of Strategic Operations for Financial Advisor Services.

The event was amazing! Janelle and Massy were able to explain where Vanguard fits within the broader advisory and wealth management industry, as well as provide an overview of the competitive landscape. They also opened up about how Vanguard has maintained its standing in the industry due to the quality of service that we offer at a competitive price as well as the commitment we have made to do what is best for our clients. Massy shared, “Vanguard has been consistent in telling investors to be disciplined, stay the course, and remain committed to their long-term investment plans.” This spoke to me because it is essentially the reason that I love being a Financial Advisor with Vanguard; we are equipped with the organization’s methodology and are empowered to do what is best for our clients to ensure they are successful long-term.

Lastly, one of my favorite moments from the event was being able to hear more about career pathing within Vanguard’s advisory business. Janelle highlighted a wide range of options that are available to crew, from client facing roles, such as Financial Advisors, to product ownership opportunities that help shape how we deliver advice to our clients. There are a lot of possibilities, and that leaves me excited about the future.

Interested in exploring our Financial Advisor opportunities? Click here to learn more.

-Aliya W.

CFA® is a registered trademark owned by CFA Institute.
Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.

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An advisor’s take on the importance of genuine curiosity

March 3, 2021/in Advice from crew, Day in the Life Financial Advisor /by marcin

An advisor’s take on the importance of genuine curiosity

I introduced my dad to Uber for the first time on a winter night late last year, heading home from dinner in Philadelphia’s Chinatown. My dad sat in the front passenger seat and by the time he had buckled his seatbelt, he was already talking to the driver, who replied to my dad’s questions in monosyllables. I felt for our driver: my dad was blissfully unaware that Uber rides are best conducted in mutual silence. Little by little, our soft spoken driver started opening up. He told my dad about his house in south Philly. He told my dad about his wife’s amazing cooking. He told my dad about his twin babies, their names and how they’d chosen them, and what they meant. This took place in fifteen minutes, and by the end of the ride as we said our goodbyes and apologized for disturbing his peace, the driver said, ‘That’s OK, I’m actually very talkative’.

This is par for the course for my dad, a physician who brought home a new story about his patients’ lives every night of my childhood. Nothing fails to capture his interest: tell him about your carpentry business, pet Chihuahua, granddaughter’s school project, cross country move, wacky theory, or favorite fishing spot. He will ask you another question, and probably another after that. Far from being tangential to their medical care, these conversations are my dad’s path to treating his patients best. He builds trust naturally because of his genuine curiosity about other people. In return, his patients are more willing to share information with him and follow his advice.

At Vanguard, I work in Personal Advisor Services, partnering with our managed clients to help them make the best financial decisions and meet their goals. Recently, our entire advisor team in Arizona, Pennsylvania, and North Carolina had the pleasure of hearing a presentation by Mitch Anthony, a preeminent financial planning author and speaker who focuses on what he calls “life-centered financial planning”. Mitch shared an anecdote about a financial advisor who was held in particularly high regard by his clients. Mitch asked the advisor to distill his career success into one word, and the advisor replied “curiosity”.

Ah-ha! Over the years, I have often thought about the similarities between my job and my father’s. In both of our fields, we build relationships and share expertise as a means to help people live better lives. But it isn’t just that both positions share an analysis of client or patient needs, a reliance on technical subject matter expertise, and the communication of recommendations. What jumps out at me most is that I, too, leave work reflecting on all of the stories I’ve heard from my clients.

Last year, I was finally able to convince a particularly frugal couple to upgrade their truck (ten years old instead of twenty). Though they’d recently received a large inheritance, they were determined to be good stewards of what their parent’s generation had built from the ground.

Last month, a seventh generation Texan who rents out the farmhouse passed down from her great- great-grandparents told me that her tenants are out of work because of COVID-19. She’s giving them a break on their rent, because she’s ‘been there’.

More recently, I’ve had encounters with the following individuals: a client who found meaning in training therapy dogs after a career in public service; a newly retired client in a race against the seasonal clock to build a greenhouse for his wife’s flower garden; a client who described the Inherited IRA Required Minimum Distribution as an annual Christmas gift from her late father.

What I think of as “genuine curiosity” is not the same as small talk or nosiness. The only agenda is to learn about another person in order to better understand them. As Mitch Anthony described to us in his presentation, this understanding is key in evaluating what our clients are trying to achieve and personalizing the best way for them to get there. Given two clients with the same situation on paper – similar fixed income, debt, and savings levels – nine times out of ten I will come up with a different investment recommendation after speaking to them.

Another overlap between my dad’s career and my own is that we came to our chosen professions via a winding path. He studied religion and was preparing to go to divinity school when he changed course. I began to learn about personal finance only after joining Vanguard. I am a bookworm and a people person, and the idea of being a financial planner hooked me within days of arriving on campus. After studying for my Series 7 and 63 exams, I wanted to learn more and help our clients more directly. I was accepted to an eighteen month program to become a Vanguard advisor which involved training courses, shadowing tenured advisors, and taking my Certified Financial Planner™ exam.

Since becoming an advisor, the magical part of the job hasn’t changed. It always comes down to two things: learning about my clients, and collaborating with my colleagues. The advisors I work alongside are incredibly diverse in terms of their academic, cultural, and professional backgrounds, as well as their personalities and communication styles– we have extroverts, introverts, and a lot of good-natured crew across our three sites. It’s hard to overstate the value of this variety when it comes to helping other human beings with their money, in particular because we seek input from each other and our business partners in technology and methodology on a constant basis.

Across this diversity, I would argue that genuine curiosity is something that all of Vanguard’s advisors share. We are sounding boards, problem solvers, and teammates with each other and with our clients. If this is a field that you have ever considered (or haven’t considered, yet!), I would encourage you not to dismiss it simply because you didn’t tell your Kindergarten class that you wanted to become a financial planner. Being a financial advisor at Vanguard has allowed me to build strong relationships, have a positive impact, and constantly learn – I can’t imagine being anywhere else.

-Mary T.

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Mentorship—Even super heroes need help

When I was a young kid, I wanted to be the Incredible Hulk. However, my desire to be a super hero was different than that of my friends at school because of one small nuance: I spent time with Hulk. I knew that he woke up at 5:00am every morning to do cardio, and some days I would join him. I knew that he liked to put black pepper on almost everything he ate. I had the opportunity most evenings to watch him lift weights, and WOW! He was strong. And the green paint? Well, that was just for television and public appearances. You see I lived with the Incredible Hulk… he was my dad.

I have a vivid memory of when I was about five years old: My father (a.k.a. Hulk) was doing bench press in the basement, and I could hear his exhale with each rep. And then it stopped. Next came a struggled yell for help, followed by my mother running down the stairs in a panic, and then two incredibly loud thuds. My mother helped him dump the weights. And for the first time in my life, I realized that everyone, even a super hero, needs help sometimes.

Your career is no different. Neither is mine. We all need help. I recently completed a fun exercise: I listed as many people as I could think of that have helped me in my 15 year career. In about 10 minutes, I wrote down the names of 94 people, and I could have kept going. The old saying is true, sometimes it does take a village! Among these individuals, there are a few who have had the greatest impact on my career due to their willingness to serve as my mentors. In keeping with the theme of seeking help, I’ve asked two of them, Vanguard senior leaders Marissa Blank and Steve Holman, to come alongside me to construct a guide on how to establish a strong mentorship relationship.

Engage with individuals naturally: The best way to build trusting relationships is to allow connections to occur naturally through your network. As Steve shares, “While formal mentorship programs can work, my experience has been the best mentor relationships happen organically. There has to be a deeper bond or connection to develop a relationship that allows both parties to go beyond superficial conversation and pleasantries.” Start meeting with leaders in your immediate department to discuss your career, and ask for ‘referrals’ on who they’d recommend you meet with. Over the course of time, you’ll get to know a lot of individuals and likely connect with a couple of them as ongoing mentors.

Be intentional about who you engage for different topics: In Marissa’s experience, “Each mentor I have in my network helps me with different things. Some are fantastic strategic thinkers, while others are great at vetting career options and next steps.” Connecting with mentors in this way will also allow you to go deep on important career topics rather than staying surface level.

Don’t be afraid to ask…for anything!: Sometimes fear is the only thing preventing us from moving forward, but don’t be afraid to ask for help. People generally want to help others succeed. “I have never had someone tell me no when I have asked for time.” says Marissa. I have personally experienced the same.

Come prepared with one key item you wish to discuss, and send an agenda beforehand: This may be an obvious one, but it is one that can be often overlooked. Ensuring you are being respectful of your mentor’s time is important, especially if this is a new professional relationship where a friendship has yet to develop. In Marissa’s experience: “The mentor relationships that have been the most productive are those where the mentee comes prepared, whether they bring a thoughtful topic to discuss, provide an update on their respective business or share insight into their career planning.” Steve agrees, “Ask specific questions about where you think you need help. Seek insight about situations you’ve experienced. Don’t force your mentor to have to guess what you need.”

Don’t be afraid to share your fears or failures: As Steve shares, “those are where your biggest opportunities for growth exist, and potentially where your mentor can help you the most.” If trust is established in the professional relationship, then this should be a ‘safe space’ to be completely honest, let your guard down, and get insightful feedback.

Be thoughtful about how often you meet with mentors: Marissa says, “I have some mentors where we only connect once a year or as something arises, where others are more frequent given the type of relationship we have.” You want to balance ensuring that your meeting time is valuably used with maintaining the relationship. For many, a couple of quick emails in between meetings can keep the conversation going without the logistics of face-to-face time.

Show interest in your mentor’s career: The more you understand their career, the more you will learn from them. And who knows, you may be able to teach your mentor something that helps them too. Marissa has a reputation for formulating successful teams, and I have indirectly learned from her to be comfortable ‘thinking outside the box’ when looking for talented individuals. Steve has an innate ability to balance professionalism with ‘being real’ and has taught me to feel comfortable bringing my full self to work every day.

I may never actually become the Incredible Hulk and save the world, but that’s okay… becoming someone’s mentor and positively impacting their life is just as fulfilling. In this season of giving, let’s show thanks to those who have helped us by committing to help others in their career.

Matt and Marissa Barrovecchio and Holman

Making an impact through financial advice

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Mentorship—Even super heroes need help

Matt with his mentors, Marissa and Steve.

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