Ep 321: Navigating The Financial Advisor Career Track In An Unfamiliar Culture With Danqin Fang

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 21 February 2023

⏱️ 92 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Danqin Fang is a Lead Advisor for Austin Asset, an independent RIA based out of Austin, Texas, that oversees more than $1.3 billion in assets under management for nearly 400 client households. Danqin stands out for her intentional career path in the financial services industry that involved her leaving China, learning a new language and culture in the U.S., getting a Master's in Financial Planning, and creating opportunities for herself through industry associations and networking.

In this episode, she shares her journey to Lead Advisor, from connecting with the description of a CFP professional after a Google search to leaving China and immigrating to the U.S. to pursue her CFP marks and having the opportunity to follow a clear career path in finance. You'll hear about how she navigated the complexities of relocating to another country and leveraged cultural differences to better connect with clients, how she used networking opportunities to get connected with the right people in the industry (and ultimately find better jobs), and why it's important for newer and younger advisors to get clear on their vision of the future so they can work backward to figure out the next best step forward.

For show notes and more visit: https://www.kitces.com/321

Transcript

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0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with
0:06.8	financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading
0:12.1	financial advisors navigated the inevitable challenges that arise on the path to success
0:17.2	and get insight from leading industry consultants about how to break through to the next
0:21.9	level in your advisory business. And now here's your host, Michael Kitsas. Welcome, everyone.
0:28.7	Welcome to the 321st episode of the Financial Advisor Success Podcast. My guest on today's
0:34.3	podcast is Dan Sheen fan. Dan Sheen is the lead advisor for Austin Asset,
0:39.1	a independent RA based in Austin, Texas, that oversees more than $1.3 billion in assets
0:44.0	and her management for nearly 400 client households. What's unique about Dan Chin, though, is
0:49.0	how she planned and executed a very intentional career path in the financial service industry
0:53.8	that involved her leaving her homeland China, embracing a new language career path in the financial service industry that involved
0:54.3	her leaving her homeland China, embracing a new language and culture in the United States
0:58.7	while achieving her master's in financial planning, and proactively creating opportunities
1:02.9	for herself by getting involved with industry associations and networking her way towards
1:07.2	advancing her career. In this episode, we talk in depth about how after a few mentors in
1:12.4	China suggested that Dan Xin look into private banking and wealth management, as they felt it
1:16.8	better suited her than her initial accounting major, she began Googling potential career paths in China,
1:21.7	but instead came across the CFP board's website and immediately connected with the description
1:26.0	of a CFP professional.
1:32.4	How Dancheon realized that to get her CFP mark, she would need to leave China and pursue her education at an accredited institution in the U.S., but saw it as an opportunity to satisfy her desire
1:37.1	to explore other cities in different cultures and to follow a clear career path, as in China,
1:42.0	career paths and finance are much more ambiguous. And how Dan Chin
	...

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