Kyle Micheli: Manager/Financial Advisor
Allegis Financial Partners: Orem, UT
1. How did this type of work interest you and how did you get started?
Answer: Kyle actually claims he started investing people’s money at the age of 12. Obviously he couldn’t legally invest it in the stock market at that age, but he said he told other ways to help people earn more money. He has had an interest and passion for personal finances ever since then.
He started his job when he was finishing up college at Utah State University. He became manager about two years ago after being one of the most successful financial advisors in the company.
2. What part of this job do you personally find most satisfying?
Answer: Kyle said he finds the most satisfaction when he sees people make progress on their financial goals. He has worked with people who started out as broke college students, but they were able to apply the principles he taught and showed them and now they are doing great. He also said he absolutely loves making a sale and developing relationships with his clients.
3. What part of this job do you personally find most challenging?
Answer: Kyle is the manager at Allegis Financial Partners so he is in charge of all the other advisors in the Orem office. He said it is really challenging sometimes to get his advisors to do the good habits that he teaches them to do. When they don’t do it, they suffer in the job and cannot support their families. It is very difficult for him to watch guys that he loves come in and drop out of the business because they are not making a living.
4. Is there flexibility related to dress, work hours, vacation schedule, place of residence, etc.?
Answer: One of the big perks to this job is the flexibility. Kyle said that he does not want his guys to ask for time off for vacation or something of that nature. He just wants them to take whatever time they want off as long as they produce as they should. Dress standards are pretty flexible, as long as the clothes are professional. He said that most people are successful in places where they are familiar. However, you can essentially live wherever you want.
5. How is the economy affecting this industry?
Answer: Actually in the financial advising world, the industry booms no matter the circumstances. Because the economy is down, many people feel the need to get financial advice because they are scared of the consequences of doing it on their own. And when the economy is up, people are really positive and willing to take some risks with their money. With the economy the way it has been the last few years, the financial advising industry is doing very well.
6. What are the salary ranges for various levels in this field? Is there a salary ceiling?
Answer: This job is 100% commission. Therefore, the salary ranges are all over the place. Generally guys in their first year will make an average of 40K. However, the sky is the limit. One guy in their office makes well over 400K. How much you make depends on how hard you work.
7. What abilities or personal qualities do you believe contribute most to success in this field/job?
Answer: Kyle said for sure a sense of competitiveness. People have to have the desire to make and set goals. He also said people need to be outgoing and willing to go the extra mile for their clients. Organized is another attribute that he mentioned because a lot of paper work is involved in this job, and you have to be able to keep everything together.
8. What were the keys to your career advancement? How did you get where you are and what are your long-term goals?
Answer: Kyle said the key to him being a part owner of the company and a manager in the Orem office was hard work. He said he figured out how to effectively work the business and impressed his bosses so much that they offered him a job as manager. He has developed great working habits in this field and knows what it takes to be successful. He said his long-term goal is to continue to work as manager and continue to own part of the business. He would like to start working a bit with real estate as well.
Summary
I really enjoyed this opportunity I had to follow the manager of a financial advising company. It really helped me to see all of the things he is required to do in a day. I also really liked how he always seemed happy. He really enjoys his career. It was also interesting to hear him talk with some of his clients. His clients love him, and I can tell he has developed a very good relationship with them.
I am really interested now at becoming a manager in a financial advising firm because of the relationship he also had with his employees. His employees work hard and enjoy working hard for Kyle. I want to continue to further my research in a managing position, but I obviously need to get my personal experience as a financial advisor first. Financial advising seems like a very flexible yet challenging job. I feel like I am a diligent person, and I also know that I want to run my own schedule. I think I would be good at financial advising because of the relationship building that is so heavily involved in this career.
