The intern's or young planner's main role is to support more senior advisors with preparations for client meetings. This may include data gathering, putting together performance reports and rebalancing recommendations, and other due diligence related to a client's investments or financial situation.
The goal should be for the new planner to jump into tangible job duties as soon as possible. The most valuable experience the new planner will gain is the ability to interact with clients. It is one thing to prepare materials for a meeting but another to see how those materials are presented in a meeting and to understand how an advisor interacts with his or her clients. These lessons cannot be learned in a textbook or classroom.
New planners should also participate in periodic financial planning and investment committee meetings when possible, and be given opportunities to take a role and have a voice in these processes.
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Again, clients should not be concerned about the involvement of young planners in their advisory relationships.
Young planners today are better educated and better trained than ever before and also bring a fresh perspective to any advisory team. Of course, those traits do not make up for a lack of experience that senior advisors have. But the only way for young advisors to get that experience is to be actively involved in the relationship.