As I was leaving my last firm to start my RIA, I was talking with a fellow NAPFA Genesis member about her recent job transition.
She was explaining how much she enjoyed her new job and how one of her colleagues was talking with a graduate student about intern work with her firm. He is currently hired by the military, in an MBA program, and looking for an unpaid internship in a financial planning firm.
I expressed my interest in having some help as I set up my RIA and consulting company. She decided to introduce us and we set up a 30-minute phone call a couple of weeks later. In talking to this gentleman, he came across as a very articulate, inquisitive and dedicated individual. I told him that as I was a start-up, I would need help putting systems and procedures in place, but he would experience other, more exciting projects in our time together. I would also show him how planning is done with different demographics of clients and explain how I came up with my recommendations.
One strange thing about this whole two-month arrangement is that well never meet. We might only see each other via video conference a handful of times. As hes based in Boston, he will be my virtual intern. As my data and programs are all in the cloud, I can create his personal log in credentials and he can have access to all my systems without being anywhere near me.
Im hoping the next two months will help me get truly organized, like any company should be. I personally do not like swimming in the details, so to have someone willing and looking forward to carrying out these tasks is exciting! I hope we can successfully share this experience and both learn from each other.
Dave Grant, CFP, a Financial Planning columnist, is the founder of Cary, Ill.-based planning firm Finance for Teachers. Hes also the founder of Fee Only Consulting, which focuses on developing the skills of Gen Y planners. In addition, hes the founder of NAPFA Genesis, a networking group for young, fee-only planners.
