What I Hope to Get Out of a Wealth and Trust Degree (Admission Essay Sample)

Name: Instructor: Course: 22 May 2016 What I Hope to Get Out of a Wealth and Trust Degree My goal in pursuing this qualification is to acquire the expertise necessary to educate people meaningfully on the subtleties of financial and estate planning. Recently, I read a news article about financial advisors that free meals to presumably educate clients on new investment and money management strategies. The news article left a bad taste in my mouth because I am unapologetically convinced that financial advisors do not prove their worth over free dinner seminars. If indeed the financial product can only be superlatively described, why buy a meal to generate any interest in it? Sadly, there is not a week that goes by that I do not receive a phone call or see an advertising fraudulently or misleadingly touting the next, big thing in trust or wealth management. Frankly, I believe that every financial or estate planning advisor is made credible courtesy of the results that they deliver as opposed to what I might call, albeit a little harshly for the vast number of respectable professionals, snake oil salesman-like information peddling. Sound financial planning need not be expensive or complicated. For instance, awareness of relatively simple issues such as payable on death (POD) or transfer on death (TOD) to avoid probate could significantly simplify estate planning for numerous investors. However, few people know their options when it comes to beneficiary designation. The dearth of information that consumers are struggling with convinces me that the surest path to empowering them is by educating them. Admittedly, I have been a successful professional and entrepreneur, but this has been by virtue of my entrepreneurial spirit no more than my luck. Indeed, I feel strongly that this is the right time to give back, that I am ready to empower consumers now more than I ever could before. After spending the last nine months completing the Duke’s Executive Certificate in Financial Planning Program, I decided that to expand my knowledge in financial planning and wealth management, I need to apply to your program. Over the thirty odd years that I have started, owned, and operated several small businesses, I have come across numerous financial advisors professionals, most good, but some not so good. With the new and soon to be enforced fiduciary rules for retirement accounts, I feel that the industry is markedly transforming and needs more educated and better trained financial professionals. Personally, I think one should consistently meet fiduciary standards in all facets of financial planning, not just for retirement accounts. I feel very strongly that financial professionals should always do what is in the client’s best interest, not what nets them the biggest commission. Not long ago, I overheard idle talk among fi...