Career switching can be intimidating. Unknowns abound. If you have read through our site and our careers pages, you have a sense of the Investment Advisor role. These characteristics of our program make your success more likely:
This is the biggie. Ultimately, most prospective clients want to invest in low-cost indexes via a low-cost fiduciary firm. And by “fiduciary,” we mean all accounts, all actions, all the time. It is a lot easier to enter the industry if you have a compelling proposition for the client.
Being mentored by other advisors and investors provides continuous development. We use a phase-in process so people can learn the industry and the role in stages. Financial Advisors at One Day In July often start out as Client Services Associates, where they are able to learn from current advisors at the firm.
One Day In July trades are placed by experienced investors on our centralized investment desk. This provides mentorship as well as efficiency for you.
The base salary and health benefits allow you to get started financially. The base salary never goes away, it generally goes up over time. This provides significant insulation from market movements. The firm mitigates risk for the advisor, as it is difficult for an advisor to make unemotional decisions for clients if his or her own base salary is at risk.
The commission (which is paid on client acquisition, not product sales to clients), can give you substantial upside.
One Day In July knows how to generate leads for advisors. This is rare in the industry.
We write almost all of our own software to streamline your life and increase your efficiency.
“I'm actually as proud of the things we haven't done as the things we have done.” ~Steve Jobs
Not doing things matters too. These are things we don’t do that will help your career and help you feel good about your work.
You certainly can and most of us do, as they should be indexing as well! But friends & family have a special low rate here, this is not a pseudo multi-level-marketing type firm.
We don’t want these products for ourselves; we certainly don’t think you should be advocating for them.
We don’t accept commissions from fund and product companies trying to influence us. Back-door commissions for placing non-optimal funds in client accounts? Definitely not! Those fancy industry getaways in gorgeous locations that ultimately cost clients more? Sorry, not for us. Fancy dinners to talk about that new fund roll-out? Um, no. We’ll meet over coffee, and One Day In July will pay.
In almost all cases, we don’t believe they are. And they tend to be detrimental to clients over time.
We openly tell clients we will only do what has been proven academically to add value. A lot of “financial planning” falls in this bucket (though not all). Instead of making up work that isn’t particularly valuable, we’d rather just lower prices.
You need a license, but from that point we rely primarily on internal training and self-education. We’re not interested in paying ever-increasing fees to credentialing bodies for acronyms to decorate your name.
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