Tafel: Financial Planning Summer Intern
***College of Business Administration Only***
The summer intern will gain exposure, and perform various client service, operations, and financial planning duties during her/his internship. The will consist of a 10-week term rotating according to the following schedule:
-4 weeks with Managing Director of Financial Planning & Managing Director of Wealth Management
- 1 week with Managing Director of Operations
- 3 weeks with Managing Director of Retirement Plans
- 2 weeks working on a capstone to summarize the summer
The objective for the internship is to offer the candidate exposure to the above aspects of our practice, and develop proficiency and understanding of the disciplines of personal financial planning, the software we use to serve our clients (eMoney), as well as an understanding of the operations and compliance aspects of our business. Under the Financial planning rotation the intern will be asked to gain a basic understanding of the financial planning disciplines subject to testing for the Registered Paraplanner Qualified Professional (RPQP) designation. These subject areas include cash flow and debt, risk, and asset management, along with retirement, education, tax, and estate planning.
With a general understanding of these topic areas the candidate will assist our financial planners in collecting and analyzing client data so s/he may create exhibits and recommendations. All recommendations are rendered in our capacity as fiduciaries, and the candidate will learn the distinction between fiduciary and suitability standards.
During the operations rotation the intern will learn how to process account paperwork, open accounts, monitor and manage accounts. In this rotation the intern, time permitting, will also have an opportunity to learn about the compliance requirements of a dual-registered registered investment advisor and broker dealer (FINRA and SEC).
During the retirement plan rotation the candidate will learn how we serve as a fiduciary to the investment committees of the retirement plans we manage. S/he will work with Fi360 software, and learn the responsibilities of third party administrator and plan custodians is servicing retirement plans (including defined contribution and benefits plans).
While working with both the Wealth Management and Retirement Plan director the intern will also learn fundamental investment analysis and asset management methodology in the construct of a multi-asset class, globally diversified portfolio. The intern will learn how to use Morningstar to create reports for review during our investment committee meetings. The intern will also participate in due diligence with members of our committee . S/he will collaborate with committee members to obtain qualitative and quantitative data we evaluate in the course of our efforts to select and monitor managers in our portfolios.
Finally, we will ask the intern to engage in a brief capstone project that will require the candidate to apply the knowledge s/he developed during the internship and demonstrate her/his proficiency in each discipline. Successful candidates will also have the opportunity to sit for the RPQP exam.