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Advisors Carve Out Niche as Career Counselors

April 21, 2016

Financial advisors are moonlighting as career consultants and headhunters to their clients, reports CNBC.com.

A client’s career “is the most important aspect” of their financial well-being, Avani Ramnani, director of financial planning and wealth management for Francis Financial, tells CNBC.com.

Avani is one of several advisors the news website spoke to who have delved into helping clients switch careers and even industries.

Kathryn Hauer, a financial planner who founded Wilson David Investment Advisors after a 20-year stint in the construction industry, tells CNBC.com that she assists her clients – many of whom are blue collar workers – with career choices as well. She uses her own experience to help some of them quit the trade or work past retirement, according to the news website.

Niv Persaud, founder of Transition Planning & Guidance and a former recruiter, tells CNBC.com that she spends about 20% of her time consulting on her clients’ careers. One of her specialties is helping female clients, who make up 70% of her business, come back into the workforce after a divorce, she tells CNBC.com.

Part of that work is helping clients figure out what they want and making them attractive to recruiters, enlisting outside help when it’s needed, she says.

Michael Haubrich, president of the Financial Service Group, says he dedicates 25% of his time to career advising, including working with career counselors and encouraging clients to develop good habits, such as continuous education and networking, according to the news website.

The idea of financial planners acting as career counselors is still rare, however.

“Nobody else is doing what I’m doing,” Haubrich tells CNBC.com.

By Alex Padalka
  • To read the CNBC.com article cited in this story, click here.