This is our fourth annual blog post about our summer internship program and even though we’ve had many interns over the years, each individual brings something unique to Huber Financial. This year, Erica Simios, a rising senior at Illinois State University, joined our team to learn more about what it’s like to work for a wealth management firm. Erica is studying Finance and Marketing-Professional Selling at ISU. Several months ago, she started to research and seriously consider a career in the wealth management profession.
A couple of months ago, Erica started to nervously anticipate the start of her 10-week Huber Financial internship.
“I felt kind of nervous before the internship started because I had just talked to a few other friends who had recently started their internships and felt unchallenged because their programs lacked structure and direction.”
The Huber Financial Culture
Erica’s internship started with an introduction to the company and meetings with representatives from each department to discuss their team’s focus and how their department functions within Huber Financial. Throughout the program she worked closely with the client service department fielding client calls and helping to manage the client database.
When asked what she thought of the company culture, Erica said:
“ … the culture is amazing! People have been very friendly. During my internship, people would stop by my cube to check on me and see if I needed any help or had any questions. It felt good to know that people relied on me and trusted that I would deliver my work on time.”
The Final Project
Over the last few years, we added more structure to our program by teaching the interns about our Five-Step Wealth Management process. After providing a solid foundation of the process, we spent the second half of the internship working with Erica to prepare a mock Discovery and Investment Plan meeting using a fictional case study.
The Discovery Meeting
During the mock Discovery meeting, Erica relied upon the discovery process to get all of the information she needed to create a financial plan for the fictional couple to present in the next meeting.
“The Discovery meeting was fun. I learned about the importance of rephrasing my questions so that the client understood why I needed the information and what it was I was asking of them. I also learned what it means to be a true fiduciary and put the client’s needs first.”
The Investment Plan Presentation Meeting
After a thorough assessment of all of the information gathered from the Discovery Meeting, Erica created a comprehensive financial plan and presented it at the Investment Plan Presentation Meeting. The goal of this meeting is to deliver an actionable investment plan and determine if we can add value to the prospective clients.
When I asked Erica what she would take from the internship into her senior year at ISU she said some of the primary skills that she learned included:
- Project and time management
- Experience interacting with clients in a professional setting
- Deeper understanding of the client service process
- Understanding the different types of financial accounts and how they work together
In addition to these skills, Erica’s experience at Huber Financial over the summer confirmed her interest in pursuing a career as a financial advisor. We enjoyed our time with Erica during her summer internship and wish her the best. Everyone is looking forward to hearing what the next year has in store for her.