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Internship - Financial Planning

Employer
Vermillion Financial Advisors
Location
South Barrington, Illinois
Salary
$16.00 per hour
Closing date
Nov 24, 2023

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Job Role
Financial Planning Support
Employment Type
Full Time
Level
Internship
Experience Level
None
CFP® Certification
Not necessary

Through your internship at Vermillion FInancial Advisors (VFA), you will gain in-depth insight into the financial planning industry through exposure to all areas of our firm. Working alongside our staff, you will learn how client interaction, technical analysis, marketing, accounting, and administration all work together to create a successful financial advisory experience for our clients. The internship is a 40-hr per week opportunity starting May 27th and finishing August 9th (11 weeks).

Enhance your knowledge of financial planning outside of the classroom

Managing Projects Related to the Seven Disciplines of Personal Finance

The VFA Summer Internship Program offers you the ability to understand how the seven key components of comprehensive financial planning are inter-connected when creating and monitoring clients finances. Through this experience you will gain a clearer picture of financial planning enabling you to determine if financial planning is the right fit for you. These seven disciplines include:

  1. Portfolio Review and Analysis (Investment Planning)

    Are client’s investments appropriate? Are they earning a rate of return at a level of risk that is appropriate for their stage of life? Our Advisors address these and many other client questions as they develop an investment plan to achieve the financial goals of our clients. On-going monitoring ensures these goals are being met.

  2. Retirement Income and Forecasting (Retirement Planning)

    For those clients yet to retire, our advisors will project the future value of assets available to fund a client’s retirement and determine how long their retirement assets will last. For clients who have already retired, our advisors monitor their current standard of living and forecasting how long they can maintain the targeted standard of living to provide them financial peace of mind.

  3. Planning for the transition of assets from one generation to another (Estate Planning)

    Addressing the concerns of what happens to a client’s loved ones should something unexpected happen to a client is a major concern. Estate planning looks at effective ways to structure a client’s estate so that their personal concerns are addressed should an incapacitation occur that inhibits their ability to make medical or financial decisions for themselves.

  4. Risk Management (Insurance planning)

    Analyzing all insurance policies owned by a client allows our advisors to ensure that our clients have appropriate policies and coverages. Making sure a client’s insurance coverages adjust as they progress from one stage of life to another is key to helping them avoid being exposed to unexpected risk. This eases our client’s financial burden in the event that a disaster occurs.

  5. Tax Forecasting and Reduction Strategies (Tax planning)

    Making sure that our client’s income sources are organized in the most tax-efficient way possible to ensure they are only paying their fair share of taxes (not someone else’s tax portion). Tax planning focuses on decreasing a client’s tax liability and increasing their ability to redirect these resources to other long-term goals and objectives (retirement, college tuition, new car purchase, etc.)

  6. Setting up Spending Plans (Cash Flow Planning)

    Having a sound spending plan is the foundation to a client’s overall finances. Understanding where money is spent and determining if these expenditures align with a client’s values will help a client achieve their financial goals.

  7. Planning for Major purchases and life Events (Major Purchases / Event Planning

    Understanding how the capital needs for a major purchase or event (new house, new car, college tuition, wedding, etc.) will impact a client’s future wealth and overall financial picture.

Participate in weekly meetings with VFA’s senior staff as well as other interns

  • Review and discuss required reading as a part of the “Summer Intern Reading Program”. These books will help you create a foundation for your financial future.
  • Engage in roundtable discussions to gain a deep knowledge of financial topics that interest you.
  • Learn what it takes to run a successful financial services company.

Creating presentations for clients, business associates, and prospects

  • Improve your marketing skills
  • Take a deep dive into financial topics by collecting and developing your information into a presentation.


Gain real life meaningful experiences in the financial planning industry

Participate in on client-advisor meetings

  • Experience each of our advisors techniques and approaches toward presenting financial topics to real clients – this will help you start to develop your own base of knowledge.
  • Witness the collection, analysis, development, and review the steps of the financial planning process in action.

Having the opportunity to attend networking events

  • Strengthen your communication skills and ability to market yourself.
  • Gain valuable insight and advice from professionals in diverse industries.

Observing internal weekly advisor meetings

  • Examine how advisors are able to benefit from each other’s experiences and knowledge.

Attending vendor meetings

  • Learn about industry related financial products and services from sales representatives presenting different vendors.

Understand the inner workings of a financial planning firm

Interacting one-on-one with our staff including the financial advisory team

  • Gain valuable insight and experience from our financial advisors to help you determine if financial planning is the correct career path for you.
  • Assist staff members with daily tasks and projects learning how their roles support our Certified Financial Planners in providing VFA clients with an exceptional client experience.

Learning proven processes used to serve our clients with the highest quality

  • Learn how to maximize efficiency and minimize mistakes

Evaluating client tax returns

  • Improve analytical skills while imputing, comparing, and contrasting tax returns.
  • Gain exposure to real life tax situations

Assisting our financial technicians in investment related tasks

  • Experience real client portfolio asset allocation and portfolio re-balancing
  • See the implementation of advisor recommendations to get a better understanding of the portfolio management process

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