Follow
To gain the most from an internship, UC Berkeley encourages its students to define what they need to learn from an internship and to be proactive about asking questions. While these are crucial steps to take, it is especially important to choose a good internship program. Thorough training will help aspiring financial advisers prepare themselves personally and professionally.
1. Northwestern Mutual Internship Program
According to the popular Vault Guide to Top Internships, Northwestern Mutual has held the spot as the top financial adviser internship program for 19 years. The company itself has been a reputable finance firm for about 160 years. In the program, interns have the chance to put what they have learned into hands-on practice. Hard work, teamwork, thorough training and a fun work environment are the benefits this program offers. The program also works with school schedules and provides a team instructing structure. Since the program helps interns build a client base, it continually receives high ratings from participants.
2. Charles Schwab Intern Academy
For students who want a shorter internship to build a solid foundation from, this is a good choice. The program lasts 9 weeks and can easily be completed as a summer internship. Instructors use a holistic education approach to give financial advisers the key components needed for determination and success. Cohort group activities are an integral part of the program, which is an important component of teaching solid teamwork. Since recruiting starts during the fall semester, it is best to apply to this program a year in advance for a summer internship.
3. Thrivent Financial Internship Program
Students who are worried about unpaid internships can breathe a sigh of relief with this program. Interns are paid regularly by the hour. Thrivent is a Fortune 500 not-for-profit company that is known for instilling a strong value core in its interns. The internship program starts with a thorough orientation, and interns are assigned to mentors who will help them build skills for specific roles. While many interns are hired upon graduation, others may stay as part-time help if they wish. Applications are accepted in the fall, and interns are selected in the spring.
4. Discover Financial Services Internship Program
For students who are interested in corporate finance or credit advising, this is a good internship choice. The company’s program is considered an asset on a resume for any corporate job, and it is especially esteemed for those who want to work for Discover after graduation. The company’s executives invest plenty of time and funds into the program to ensure thorough training. Interns enjoy a personalized learning experience that focuses on their strengths and future goals. Applicants must be enrolled in a bachelor’s degree program, and grade level requirements vary depending on different program tracks.
5. Edward Jones Internship Program
This program lasts 10 weeks and is a great choice for a summer internship. Interns are assigned to work alongside experienced financial advisers who are eager to teach. The company prides itself in providing a through education and has been a leader in the financial management industry for many years. This internship is paid, and Edward Jones accepts interns in a variety of locations across the United States. Applicants must be at the junior or senior level with no less than one semester remaining until graduation.
6. Merrill Lynch Wealth Management Internship Program
Students who want to be financial advisers and entrepreneurs can benefit greatly from this program, which is offered in cooperation with Bank of America. The program lasts 10 weeks and is conducted during the summer. Applications are accepted in the fall. During their internship, students gain a strong understanding of the financial services industry through hands-on work. For those who are interested in wealth management, this short internship is a valuable and knowledge-packed learning experience. Interns learn mostly about supporting clients, building relationships and using investment vehicles.
7. Wells Fargo Financial Internship Program
This well-known bank has several different internship programs for students. Aspiring financial advisers can choose financial, wealth management or investment management as a focus. Interns learn directly from experienced financial advisers who can help them develop the applied skills needed for a future career. Some programs last 12 months. Recent graduates who are looking for a longer program than a summer internship will appreciate this option. Since application review starts in the fall, it is best to apply a year in advance. The internship is paid and comes with several benefits in addition to the valuable learning experience and strong resume addition.
8. Ameriprise Financial Internship Program
This Fortune 500 company offers a summer internship, which lasts between 10 and 12 weeks. Interns can choose an area that fits their career preferences, and prospective financial advisers should select adviser support. The program is an ideal choice for students who are interested in entering corporate jobs in the future. With the many networking opportunities afforded by this program, students take away valuable contacts in addition to their new career-building skills. Interns rate the program highly because of how mentors encourage and welcome their input and ideas. At the end of the program, interns collaborate with one another for a capstone project that is a great addition to a resume.
9. Providential Partners, LLC Internship Program
For students who are interested in wealth management, this internship offers plenty of valuable experience. Interns implement and maintain databases, help set up client meetings, interact with clients, track business progress and learn important skills for maintaining client relationships. Providential Partners, LLC is an independent firm. Interns learn from a team of financial advisers during the program. Since this is a year-round program, it is best to apply at least two semesters in advance. Students who are seeking compensation may not prefer this unpaid internship. However, it is an asset to add to a resume for students who do not need monetary compensation.
10. Deloitte Intern Advisory Program
Deloitte is a well-known advisory firm. The company offers an internship program for aspiring financial advisers. Most college advisers can help interested students apply to this program. Since the application process takes several months to complete, start working on it in advance. There are several different internship position locations, and each position comes with a salary. Interns learn directly from experienced advisers who have a wealth of knowledge. They are able to learn valuable skills for working with both corporate and private clients.
NAFPA.org is also a good online resource for finding financial adviser internship opportunities. According to Forbes, financial adviser jobs are growing. Since this is a popular field of study as well, it is important to keep a competitive edge. Students who want the best internships should talk to their school’s recruitment coordinators, polish their resumes and start sharpening their interview skills. For students who are not yet juniors or seniors, now is still a good time to start planning for internship possibilities.
