A take who wants to become a financial

 

 

 

 

 

 

 

 

 

A
RESEARCH GUIDE TO THE FINANCIAL ADVISING COMMUNITY

Wayne
State University

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Kristopher
Thomas

Common
Public Goals:

            Financial advising is defined as the advising of money of
an organization in an effective and efficient manner to accomplish the goals of
that organization. There are several ways that a financial advisor can do this
and largely it depends on the type of organization they are managing the money
for. In all regards though, a financial advisors’ goals are to grow their
clients’ portfolio and educate their clients on how to achieve their financial
goals.

Membership
Qualifications:

            To be a member of
this discourse community, you would have to obtain a degree in finance. A
bachelor’s degree is required, and many go on to do a master’s degree as well. Not
only do you have to have a degree, but lots of experience is required before
someone is considered to be a part of the community. For example, recent
college graduates need to look for a firm willing to take on an apprentice
where they can learn from others and therefore go on to get a job in the field.
Companies looking to hire new people usually look for well qualified and well
experienced applicants from their competitors. There is also a CFP (Certified
Financial Planner) certification test that everyone must take who wants to become
a financial advisor. Many people expecting to join this discourse community
should also look for professional organizations that they can join. These
organizations can give much needed insight into the discourse community and
give mentorship while entering the world of finance.

Lexis:

            As a financial
advisor there is a need to know a vast range of vocabulary that usually someone
would never learn. Most of these terms relate to money and investing, such as a
401K, or dividends. A 401K is defined as an employer established retirement
plan to which eligible employees can make salary contributions. A dividend is
defined as a sum of money regularly paid by a company to its shareholders out
of its profits. Both of which are key terms in the field that if someone didn’t
know them they would have a very hard time being a financial advisor. Anyone
who is a CFP must also know and commit to the four E’s. In no particular order
they are Education, Examination, Experience, and Ethics. The four E’s were set
in place as a standard for all CFP’s to adhere to, and to even keep your CFP
designation you must complete 30 hours of education every two years.

Genre:

            Financial Advisors
use multiples genres of communication used either from professional to
professional or professional to clientele. For example, two employees at the
same company may communicate via informal email while both of those employees
communicate to their clientele via formal email. Financial portfolios are also
one way that financial advisors communicate how they are investing and managing
their clients’ money. A financial portfolio is an overview of all financial
assets and their current worth as well as all transactions that have taken
place within those assets. Face to Face meetings with a financial advisor and
his or her client are also very common. Annual conferences of professional
organizations are also a big platform where professionals in the discourse
community can meet and network with eachother.

Mechanisms
of Participation and Intercommunication:

            There are many
ways that financial advisors communicate with each other. Conferences where
many people can meet face to face and talk in person are widely used because of
the relationships that you build with people, and finance is all about
networking. Informal/Formal emails are also used so send information to each
other or talk with potential clients. Another way that professionals in this
discourse community communicate are professional societies/ associations. In
these associations members are able to share research and whitepapers as well
as attending annual conferences and talks where they can learn useful
information and keep up with current events in their discourse community. One
example of a professional society in this discourse community would be the AFP
(Association of Financial Professionals).

Major
Topics/ Significant Developments:

One
of the biggest topics over the last decade and specifically over the last year
has been crypto currency. Cryptocurrency is a form of digital currency not
controlled by any country or government agency. Just like the price of a stock
it rises and falls in price and its value is determined by the market itself. Another
large topic of the last decade is healthcare. When Obama came into the white
house and he introduced the Obama care bill which gave healthcare to 20 million
Americans that previously did not. Because of this the rate at which healthcare
cost was previously rising was majorly slowed down. This has largely changed
the way that many people manage their money and prepare for retirement.

 

Research
Questions:

1)    
As we move deeper into an era of
technology, how will that change the way we invest and what we invest in?

2)    
Is a system of national healthcare more
financially logical than a private healthcare system?

 

 

 

 

Works Cited

 

Financial Advisor. (n.d.). Retrieved
January 28, 2018, from https://www.sokanu.com/careers/financial-advisor/

Kolakowski, M. (n.d.). What Does it Take
to Become a Financial Advisor. Retrieved January 28, 2018, from https://www.thebalance.com/how-to-become-a-financial-advisor-1286648

Glossary of Financial Terms. (n.d.).
Retrieved January 28, 2018, from http://kahlerfinancial.com/glossary

Amadeo, K. (n.d.). Top 10 Financial News
Stories of the Decade. Retrieved January 28, 2018, from
https://www.thebalance.com/what-were-the-top-ten-events-of-the-decade-3305697

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