A Fork in the Road for Financial Consultants
Financial consultants favor one of two work environments: the product-based company or the professional services firm. Regardless of which path the consultant chooses, the person's goals have to match the risk involved in making the decision.
So says Dean McMann, chief executive of the Ransford Group, a consultancy firm involved in the professional services' arena.
"It's an ideal time to be a financial consultant, and professionals in the field should take advantage of it," says McMann.
Technology companies like IBM and Hewitt-Packard are trying to get a foothold in the field by purchasing smaller consulting firms, and the market won't slow down any time soon, he says. Professionals should try to find the company they enjoy the most.
"What you've got to look at is your goals," says McMann. "There needs to be a mathematical equation with risk assessment numbers so you can decide if the traditional role is best, or if being part of a pure professional services firm, instead of a product-based firm, is important to you."