How internships benefit both the student and Mariner Wealth Advisors.
Sep. 9, 2018 Article

Internships Benefit Students and Mariner Wealth Advisors

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When imagining the typical college internship, a few common attributes might come to mind. Examples include being asked to make copies, fetching coffee and removing staples from mountains of reports. An internship at Mariner Wealth Advisors is a little different…here’s why.

Mariner Wealth Advisors recognized a trend of advisors “aging out” of the profession and is trying to get ahead of it by investing a great amount of time in young advisors. According to a study by Ernst & Young, for each financial planning college student entering the workforce, there are two advisors who become eligible for Social Security benefits.1 The same study noted that jobs for personal financial advisors are expected to grow by 66,400 by 2020.2 With financial advisors, on average, in their late 50s, firms are increasingly focusing on succession planning to transition to the new age of financial advisors.3

The financial services industry, specifically wealth advisory services, is constantly evolving both in the services provided and the role that advisors play in their clients’ lives. Having noticed this trend, Mariner Wealth Advisors fostered strong relationships with universities offering financial planning curriculum and created a meaningful internship program that emphasizes an in-depth on-boarding process. The objective of these initiatives is to spur a lasting dialogue between interns and management, as well as bridge the gap between technical education and industry application. By hiring these graduates directly out of school, Mariner Wealth Advisors benefits by fostering young talent for its departments across the company and notably, grows and develops the next generation of Advisors that can readily relate to a younger client demographic, including the children of current clients.

For the first two weeks, interns learn all the aspects of Mariner Wealth Advisors. From operations and trust and estate planning, tax consulting and mock advisor meetings, interns from every department are provided an opportunity to experience how their role fits into the bigger picture – creating a more meaningful relationship between advisors and clients. In the six weeks that follow, interns are immersed in their respective areas of the company, learning first-hand how we help clients manage their financial and life goals. In doing so, interns receive real-world experience to compliment what they have learned in the classroom, ultimately coming away with a deeper understanding of the wealth advisory industry as a whole. As one of our interns, Jack Giardino, said, “Ultimately this internship is to attract people to the industry…and really help us understand and learn the right approach to financial planning.” 

To apply for our summer internship program, click here.

 

Sources:

1https://www.ey.com/Publication/vwLUAssets/EY-the-next-generation-of-financial-advisors/$FILE/EY-the-next-generation-of-financial-advisors.pdf

2https://www.ey.com/Publication/vwLUAssets/EY-the-next-generation-of-financial-advisors/$FILE/EY-the-next-generation-of-financial-advisors.pdf

3https://www.forbes.com/sites/halahtouryalai/2017/07/25/americas-next-gen-wealth-advisors-millennials-who-survived-2008-are-now-managing-billions/#53713d842d1a

 

Mariner, LLC dba Mariner Wealth Advisors (“MWA”) is an SEC registered investment adviser with its principal place of business in the State of Kansas. Registration of an investment adviser does not imply a certain level of skill or training.  For additional information about MWA, including fees and services, please contact MWA or refer to the Investment Adviser Public Disclosure website.