If Merrill Wealth Administration’s Simone Lee had one lesson to share with these pursuing the Licensed Monetary Planner designation, it might be to take the inevitable bumps within the highway in stride.
Lee was acknowledged earlier this month because the 100,000th individual to earn the CFP credential. She mentioned her journey concerned loads of obstacles, together with balancing parenting tasks together with her work and research. She additionally failed the ultimate examination on her first try.
Falling brief on the primary go was emotionally difficult, Lee mentioned, however it was additionally informative. She realized that her preparation had been overly conceptual and may gain advantage from extra sensible software of the important thing ideas taught within the CFP program.
Lee mentioned she additionally benefited from having the ability to look as much as one other CFP all through the method — her mom, Judith Lee, who immigrated to the USA from Jamaica earlier than founding a Merrill monetary planning apply almost 20 years in the past.
In 2019, Simone joined her mom’s apply as a monetary advisor after a profession in data know-how.
“I’m thrilled to be the 100,000th CFP skilled in the USA,” Lee mentioned. “I can’t wait to share my story and present others that there are numerous paths to beginning a rewarding profession as a monetary advisor and incomes CFP certification. I’ve seen the monetary challenges confronted by necessary individuals in my life, and I selected this profession due to my want to assist others.”
Listed below are some highlights from our dialog:
THINKADVISOR: It’s an enormous deal for the CFP designation to cross this milestone, however it additionally should be such an necessary second in your personal private life and profession. What are your emotions about being the 100,000th CFP?
SIMONE LEE: Sure, it’s very thrilling for me personally and for the advisor trade. I positively perceive the ability of illustration and visibility, in addition to the necessity to deliver new faces into the enterprise. So yeah, I’m simply actually enthusiastic about this and actually blissful for this chance to share my story.
Are you able to inform us extra about your highway to CFP certification? You stared your profession in IT, proper? What sort of work had been you doing earlier than?
Sure, I used to be an IT venture supervisor. I graduated from school with a level in arithmetic, however I’m additionally a individuals individual, so I gravitated in direction of the venture administration position. I used to be interfacing with totally different individuals throughout totally different enterprise strains on daily basis.
I loved that, however I by no means felt like I used to be having a major impression in my position. I additionally didn’t have a variety of management over my time, and that’s what made me notice how my mom’s profession was totally different as a CFP advisor. I noticed how a lot flexibility and autonomy that she had. She was capable of be her personal boss, and that was actually interesting to me.
She was additionally capable of construct relationships together with her purchasers that had been very private, and I knew she was blissful in her position. She was additionally capable of stability being a mom with being a full-time boss. That’s what finally led me to make the change in my profession from venture administration in IT to a monetary skilled.
When did you begin formally learning for the CFP examination?
I moved over to Merrill in 2019, so it’s been 5 years now. It should have been in late 2021 or early 2022 that I had gathered sufficient expertise to actually set a objective of getting the CFP designation.
It’s a really troublesome examination, and it required an amazing quantity of self-discipline, time administration and fortitude to actually put aside the time to get by all the materials. Fortunately, I had a really supportive partner and I used to be capable of make it work for me — however there have been positively a variety of late evening and early morning research periods.
I had simply had a child on the time, too, in order that added a layer of complexity, and I’m truly anticipating my second baby very quickly. I point out all that to point out individuals that you would be able to stability the research and examination course of with actual life, however it’s not at all times simple.