Organizations expect YIPs to learn strategies of accepting diversity because the investment industry requires toughness. Clients can be edgy and YIPS should expect to deal with tough patches (Kerry, (n.d)). Organizations expect YIPS to always take risks because there no limits in investment until they “get a slap on the wrist’s back”.
Organizations expect young investment professionals to attract customers. Methods used to attract customers are correlated with the levels of returns. Young investment professionals might have good stories but fail to produce good results
YIPS are expected to be always ready and willing to help people. Whether big or small accounts, organizations expect YIPS to help account holders to generate returns from their accounts. This translates to revenues for the company
Organizations expect YIPS to relate easily to investment concepts, ideas, and strategies on their own without the need for much training and management. The organizations also expect the YIP to always have focus and become extremely productive. Bosses do not want YIPS on their back but rather they expect them to have their back (Reznak, 2012).
Organizations expect young investment professionals to practice exercise ethical financial principles. Ethics can be dangerous because YIPs can be given obligations that might involve illegal or unethical outcomes if they are not handled properly (McMilan, 2013).. Naivety and lack of experience can drag YIPs to engage in unethical business practices without their realization (McMilan, 2013). Phrases like “How it gets done doesn’t matter provided it gets done’ and Nobody will ever know” are examples of unethical situations common among YIPS
YIPs are expected to facilitate the process of exchanging opinions and information within the organization and beyond the investment society. This involves working further to understand the investment structures, portfolios, and analysis within the industry
Conventional wisdom states that aspiring young professionals should always be ready to take risks, attract customers, act ethical and professional, and convince consumers to invest in the organization. Understanding the investment structures, portfolios, and analysis within the industry is also critical among Young Investment professionals. Finally, YIPS are expected to relate easily to investment concepts, ideas, and strategies on their own.
Kerry, H. (n.d). Get-ahead tips for young professionals. USA Today.
McMilan, M. (2013). Are Young Investment Professionals Especially Vulnerable to Ethical Lapses? Retrieved from http://blogs.cfainstitute.org/investor/2013/05/07/from-golden-boy-to-rogue-the- road-to-ethics-ignominy/
Reznak, S. (2012). MENTORING: An Important Investment in Young Professionals. Diversity Employers, 47-48