Will this be a paid internship?
Yes. Firms are committing to paying at least $15/hour.
Can I apply to a specific firm?
No. You will submit an application to the program at large. All of our partner companies are leaders in their field, therefore all applications will be shared at random between them.
What is fee-only?
Fee-Only is a business model where financial advisors are compensated directly by their clients. We believe this reduces as many conflicts of interest as possible, because fee-only financial planners cannot receive commissions, kickbacks, or any other type of compensation.
What will I get out of this internship?
This internship will give you an opportunity to learn about financial planning first-hand from a fee-only financial planning firm. You will have the opportunity to develop your soft skills, financial skills, and your own network of high achieving professionals. You will join a community with access to a tailored program ahead of, and during, the internship to ensure you learn as much as possible from the experience.
What is NAPFA?
NAPFA is The National Association of Personal Financial Advisors. To be in NAPFA, your firm must be fee-only. All of the co-founders of the BLatinX Internship Progam (BLX) are members of NAPFA. NAPFA is partnering with the internship program to provide resources like a Diversity and Inclusion tool kit, technology support, and public relations support.
Who will be selected?
The firms participating in the program will select the intern, or interns, they would like to hire. Each firm will have their own way of evaluating candidates, which may include interviews (virtually or in person) and/or assessments. Typically firms will look for the following traits in candidates: curiosity, intellect, strong work ethic, strong sense of initiative, organizational skills, analytical skills and excellent communication skills.
How do I apply?
Go to https://blxinternship.org/apply to submit your application for why you are a good fit for this program. Please keep in mind that you apply to the BLatinX Internship Program (BLX) as a whole, rather than to a specific firm that is participating. The application deadline is December 20, 2021 at 11:59pm PST.
When will I know whether or not I have secured an internship?
You should expect to know whether you have been successful by the end of February, but likely before. If you do not secure an internship, please do not be discouraged. The program is highly competitive and you can apply again next year.
Do I need previous experience?
No you do not. However a demonstration of required skill sets such as work ethic, curiosity and initiative are extremely important. This can be shown through blogging, previous internships, society involvement, etc. Don't be modest in bragging about yourself!
Do I need a warm introduction to be considered?
No. You do not need to know anyone at any of the companies to be considered. You just need to make your application stand out, so be creative.
What is the most important thing you look for?
The most important thing we are looking for is potential. We are looking for candidates who are passionate about personal financial planning. We will ask questions like: You can choose any career or job that is out there, why have you chosen financial planning?
Can I get feedback on my resume or application before I apply?
Due to the volume of applications we expect to receive, we are unable to offer personal feedback. However, we do plan to have trainings before the application deadline. Stay tuned and sign up for our newsletter for updates.
If I am a student, do I have to attend a US university?
Yes. If you are currently a student, you must be attending classes at a US based college/university. If you are currently living in the US and have graduated from college from a foreign country, you do not need to have graduated from a US university if you are able to work in the US.
What does BLatinX (BLX) mean?
BLatinX is a blend of the words Black and Latinx. BLX is the abbreviation of BLatinX.
When will the internship officially start?
We plan to have a formal kickoff date that will align with a normal summer internship schedule. We will have weekly content to help support interns and firms along the way.
However, we know that the timing for the firms and interns may need to be adjusted on a case-by-case basis. Thus, we will leave it up to the firms and interns to decide on the best start date.