Exploring Part-Time Opportunities in Finance
Hi everyone! I posted a question yesterday but didn’t receive many responses, so I’ve done some more thinking and research. I’m currently a lead teacher with a solid salary of around $70k, great benefits, and summers off. I enjoy my role, but my ultimate goal is to become my own boss. I’m looking to transition into finance or at least start a side hustle.
I considered pursuing a financial advisor training program, such as those offered by Edward Jones or Merrill. However, that would mean leaving my stable job, and given the current economic climate, I’m hesitant to jump into a role with less job security and potentially lower pay.
Now, I’m focusing on part-time opportunities. I have a decent amount of free time in the afternoons, on weekends, and during the summer. I spoke to a seasoned independent broker who began his career with Primerica in the 90s. He received training and was able to build a client base that he took with him when he moved on. While I know it’s an MLM, I’m tempted by the training and licensing opportunities without having to quit my current job. That said, I’m not keen on paying for leads or being pressured to sell to friends and family.
While searching for other part-time roles, I came across similar firms, like Symmetry and various local companies that appear to be affiliated with larger MLMs. The consensus online suggests that many of these also involve paying for leads, and over 80% of participants tend to give up or lose money.
Some people have suggested becoming a referral source for a local insurance agent as another route. I’m curious to know your thoughts on the best way to break into the insurance or finance sectors and get licensed. For context, I’ve already passed the SIE. Any advice would be greatly appreciated!
One response
Hi there! It sounds like you’ve put a lot of thought into your career transition, and it’s great that you’re exploring different paths while still holding on to your current position as a lead teacher. Given your situation, there are a few avenues you could consider that might align with your goals while minimizing risk.
Networking with Financial Professionals: Since you’ve already had a conversation with an independent broker, consider expanding your network by attending local finance or investment seminars and joining relevant groups on social media platforms (like LinkedIn). This way, you can gather insights, explore different firms, and possibly find mentors who can guide you.
Part-time Financial/Insurance Roles: If you’re wary of MLMs, look for positions that offer legitimate training programs without the pressure to recruit others. Some firms may hire part-time associates or interns to assist with client services or administrative tasks, allowing you to gain experience without committing fully to sales roles right away.
Referral Partner Opportunities: Becoming a referral source for established financial or insurance agents could provide a low-risk way to enter the field. It allows you to build relationships and understand the industry better without the pressure of direct sales.
Online Courses and Certifications: Since you’ve passed the SIE, consider pursuing additional financial certifications or courses that can deepen your understanding of finance (like the Series 7 or Series 65). Online platforms often have flexible schedules, allowing you to continue working.
Freelance Financial Consulting: Depending on your skill set, you could explore freelance consulting in areas like budgeting, education finance planning, or even tutoring related to personal finance. This could be a good way to transition into finance while building a client base.
Starting Small: If you’re considering a side hustle, it might be worth exploring other areas of interest where you can leverage your teaching skills—perhaps creating online courses, tutoring, or coaching in areas like financial literacy for teachers or parents.
As you evaluate these options, make sure to prioritize your comfort level and avoid paths that seem high-pressure. There’s no rush to make a leap; take your time to explore what feels right for you. Good luck!