Practice Management Intern
3/4/2019
Lighthouse Financial Planning, LLC
Barry Korb
1515 Allview Dr
Potomac, MD 20854
Phone: 3019967044
Fax: 301-424-7044
bkorb@lighthousefp.com
Email
Lighthouse Financial Planning, LLC, a solo, ‘fee-only’ financial planning/investment management firm located in Potomac, MD is looking for a full time 4 to 6 month “practice management’ intern. This opportunity will be particularly valuable for someone interested in seeing all aspects or a small RIA’s operation while focusing on learning what is often referred to as the back-office/administrative tasks that are not usually taught in a classroom situation but need to be mastered by anyone needing a holistic education on all aspects of a financial planning career.
Under the guidance of the sole practitioner the intern will focus on systematizing, developing, and implementing (for 3 to 30 clients per area) practice management tools in areas such as: client relationship management procedures (using Redtail); account aggregation (using Blueleaf); Investment Policy Statement (IPS) templates and account allocation and review systems (for software and investment options including integrating FinaMetrica Risk Profiling into IPS’s using mostly Dimensional Fund Advisors and Vanguard Funds); accounting (using QuickBooks); secure interactive computing/communications/storage systems/backup systems (using for example; Microsoft 365 and Webex); compliance management, tracking and due diligence systems; client on-boarding and account opening systems (at TD Ameritrade and using Precisefp); financial plan development (using Money Tree); College Funding analyses (using College Funding Solutions); website maintenance and optimization (Squarepants); and perhaps even marketing programs.
The selected candidate will have no entitlement to a paid job at the conclusion of the internship, but may be considered for a future Financial Planning Assistant/Associate opportunity at Lighthouse as part of it developing succession plan.
Specific topics to be focused on will be at the discretion of Lighthouse depending on the candidate selected (as it is not expected that all will be addressable by one internship). While client specific data/information is confidential and proprietary to Lighthouse, all systems, procedures, knowledge, products resulting from this internship may be used by the selected candidate in any future financial planning job or related entrepreneurship effort subject only to the limitations imposed for example by the vendor of a software product employed – thus if for example an IPS template is developed, the template (minus client and vendor specific information) may be used by the intern in any future endeavors. Lighthouse believes that this is one of the few opportunities for an intern to gain such a broad exposure in such a brief time to the full dimensions of a fee-only financial planning firm.
Primary tenants of Lighthouse’s practice include: a commitment to serving my clients always putting their best interests first and selling no products; a belief that investing must be done in the context of holistic financial planning; a belief in the best academic theory/application of investment principles as currently best portrayed by Dimensional Fund Advisors (www.dfa.us), an openness to all who fit Lighthouse’s client profile; and an expectation that clients will play their role. Selected candidate must be able to work with a detail oriented planner who does not manage to use files/systems well by himself.
Requirements: The usual full range of skills and competencies that would be expected of a promising Financial Planning entrepreneur in training. The selected candidate must be committed to ‘fee-only’ fiduciary financial planning and studying for or transitioning into a position requiring a CFP®. This is an equal opportunity internship open to all (and more than one candidate might be selected under certain unusual conditions). Candidates should submit via email:
1. -- a cover letter;
2. -- a resume in PDF format;
3. -- three references (if possible one academic, one professional and one personal), and
4. -- their willingness to undergo a background check if asked.
Lighthouse notes that it will be only able to review and pursue in detail a limited number of candidates – while Lighthouse will attempt to acknowledge receipt of requested information, candidates should assume that if they have not heard back in four weeks, Lighthouse was not interested or not able to pursue their candidacy. Please try to make your best pitch in a succinct first paragraphs to your cover letter specifying what you have to offer Lighthouse and what if any expectations you have that Lighthouse should be aware of (e.g., need for a stipend, time off for a family event, or desires for specific foci n assignments).
Lighthouse hopes to start reviewing candidate submitting requested information by February 28th. But candidates may respond though the end of May, 2019.