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Financial advisor shares career experience with AOF seniors

Written by AOF seniors Jaclynn Sorensen and Rebecca Bass

Oct. 1, 2015

Financial advisor shares career adviceOn Sept. 15, the seniors in Monticello High School’s Academy of Finance (AOF) had the opportunity to speak with Mr. Joel Blum, a financial planner and alumni of the Monticello High School Academy of Finance. As a student in the AOF, he participated in an internship at the Frontier Insurance Company in Rock Hill. This internship was an incredible networking opportunity that allowed him to make many connections that he still considers useful today.

Mr. Blum attended SUNY Oneonta and graduated with a degree in Business Economics. He originally planned to become an Accountant, but discovered that accounting was not his calling. Mr. Blum did not always know that he wanted to become a financial planner, but when he was offered a job out of college as a financial planner, he discovered that it was something he wanted to make a career out of. He spent a few months studying for the Series 7 Exam, and became a chartered retirement planning counselor. His first jobs in the financial planning field were at Smith Barney, and then at Merrill Lynch.

Today, Mr. Blum has his own practice as a Financial Advisor for Ameriprise Financial Services Inc. Mr. Blum believes that the best part of his job is being able to help people. When asked if Mr. Blum would rather advise wealthier people, or people with a lower income, he amused the class by stating, “Wealthy people need help too.” Joel Blum

As a financial advisor, he meets with his clients to make sure that they are earning more money than they are spending, which is called a surplus. He watches for red flags in client’s spending habits to make sure that they avoid a deficit, which is spending more than they earn. Mr. Blum focuses on planning retirement approaches for his clients ages 25-100 to ensure that they will not outlive their money and continue to be able to pay for their daily necessities.

He helps his clients determine the type of investments that will make the most of their money for the long-term, deciding whether to invest in stocks, bonds, or cash. Since Mr. Blum has a commission-based salary, he explained that his secret to having a successful practice is to diversify his clients so he can assist people with varying amounts of wealth. Mr. Blum works with a variety of clients and assists them in managing their money to build a future and leave behind a legacy.