No One Ever Told Us That: Money and Life Lessons for Young Adults

CHAPTER ELEVEN

SO YOU WANT TO BE IN THE INVESTMENT BUSINESS

This is a business in which there are many ways to the truth, endless interesting possibilities, and a profession that is not in decline; it grows with the population, now more than 320 million people in America. And no matter what technology brings us, people need, and will always need, advice and counsel about their money. The majority of us cannot do this on our own. The more personal and old-fashioned you can make this advice, the busier and more successful you will be.

I'll concentrate here on what it takes to advise and counsel clients on the wealth management side. But there are endless areas to participate in the business of money. There is old-fashioned banking, lending. Within banking there is trading, the buying and selling of securities and sophisticated derivatives. There are trust departments, offering personal services to clients and training programs to get you initiated. There are back office and support areas, research departments, human resources, legal and compliance, information technology, all growing as rules and regulations layer complexity into every workday. The job possibilities are endless and generally well paying.

I like businesses where the upside for you as individuals is unlimited. Direct money management is one of those professions, perfect for the lone wolves and people who essentially work for themselves and their clients, no matter what company name is on the door. This is a job for ...