FORMAL REPORT ON
Career Choices: Financial Advisor and Dental Hygienist
Submitted to:
Professor Don Olsen,
DeVry University
Submitted by:
Tracy Herron
For: ENGL227
October 20, 2014

LETTER OF TRANSMITTAL

October 20, 2014

Professor Don Olsen don@modgroup.net DeVry University

Professor Olsen,

I am pleased to present to you this letter of transmittal for a formal report as the final assignment in ENGL227. The report will list and compare two career choices which I have researched and will recommend one of for the client.

The enclosed formal report has been prepared from sound research using creditable sources and will be sited using APA style citation. It also contains appropriate prefatory, text, and supplemental parts, including a cover page; this letter of transmittal; a table of contents; the four-part Introductory Section; appropriately labeled body sections; appendices, and a list of references.

Thank you for the opportunity to submit my recommendation for the client.

Sincerely,

Tracy Herron
Tracy Herron

Table of Contents

LETTER OF TRANSMITTAL 2 Introduction: Career Choices 4 Financial Advisor 5 Earning Potential 5 Unlimited 5 Bonuses 5 Benefits 5 Profit Sharing 5 Medical & Dental Insurance 5 Life Insurance 6 Disability 6 Tuition Reimbursement 6 Travel 6 World Travel 6 Time Off 6 Family Travel 6 Family Activities 6 Encouraged 6 Dental Hygienist 6 Earning Potential 7 Comparable 7 Bonuses 7 Flexibility and Time Off 7 Conclusion 7 Resources 8

Introduction: Career Choices I have been given the task of researching two different careers and recommending one of them to the client. The careers I’ve chosen to investigate for this formal report are Financial Advisor and Dental Hygienist.

I am researching the earning potential, benefits, and flexibility of each career. Although the two fields are not related in any way, both choices have their own set of positive attributes and a few similarities. One similarity between them is the earning potential. Salary is only limited by the amount of time you are able to put into it. The benefits offered in each career are also something to consider when choosing a career. The possibility of world travel is an aspect that is not all careers can offer someone. In addition, time off is also an important part of a career, especially if the individual has a family.

Each of these careers has attributes almost anyone interested in a professional career would desire. It is my goal to explain them and make a recommendation.

Financial Advisor
The career path of a Financial Advisor can start at any point after achieving a four year college degree. The training and certification is intensive and time consuming, however the payoff can be well worth the time and effort spent to become licensed as a Financial Advisor. Advisors must stay up to date on all the laws and regulations that govern these type investments. Some employers of Financial Advisors are: Edward Jones Investments; Commonwealth Financial Network; Charles Schwab; and Morgan Stanley are just a few. Edward Jones was ranked best firm for employee advisors and Commonwealth was ranked number one by independent advisors (Paikert, 2013). For the purposes of this research, I will refer to the policies and practices of these two companies Advisors as references for this research.
Earning Potential
Unlimited
The earning potential of financial advisors is something that is almost unheard of in other careers. The amount of time the individual is willing to contribute to building their customer base and servicing those customers is directly related to how much income they are able to produce. As a new Financial Advisor some customer accounts are transferred from other FA’s. Cold calls to homes and businesses along with community participation are the main source for building the business. Referrals can be another source, but usually come later after establishing themselves in the community. As long as the FA is willing to continue to build rather than just maintain their business, their income is virtually unlimited.
Bonuses
Bonuses can be earned in addition to income from investments. Bonuses can be earned for a number of reasons, including: training completion; milestones met; new assets; and profitability bonuses.
Benefits
Profit Sharing
Financial Advisors receive profit sharing from their employer as an added benefit. The company profits through the hard work of its employees and the employees are included in that profit.
Medical & Dental Insurance
Group medical and dental insurance is offered as a benefit to employees (Compensation & Partnership - Edward Jones Careers). Health insurance is a benefit most people do not want to be without. Employees pay a group rate which is much better than an individual rate for a family.

Life Insurance
Employees are covered by an employer paid life insurance policy.
Disability
Short term and long term disability are available in addition to other supplemental coverages.
Tuition Reimbursement
Tuition reimbursement is available for anyone interested in working toward an undergraduate degree, MBA or another graduate degree.
Travel
World Travel
Associates have the opportunity to travel all over the world as part of their reward for meeting milestones and other goals.
Time Off
Family Travel
Time off is part of most professional careers but the opportunity to travel with your family as part of your bonus and rewards program is definitely a perk of this career.
Family Activities
Encouraged
As with the time off and family travel, activities for associates and their families to participate in together are encouraged and planned on the bonus trips.
Dental Hygienist
A dental hygienist works with the dentist to meet the oral health needs of the patient. Their responsibilities differ from state to state because of regulations. However, they can include: patient screening; taking and developing x-rays; teaching oral hygiene; and teeth cleaning. Since dental care has focused on prevention for many years now, people are retaining their teeth longer and that in turn means there is a growing need for hygienists.
Earning Potential
Comparable
An average salary per year was $70,000 in 2012 (Dental Hygienist). This compares to others in the medical field, however dental assistants and laboratory technicians made about half that. The services they provide are valued by a large percent of the population, making them treasured to some.
Bonuses
The payment of bonuses will vary from office to office and the amount also varies depending upon the area geographic location and the economic prosperity of that area.
Flexibility and Time Off
Many hygienists prefer to work part time and this profession is very flexible in that fashion. Because of their great need, the dentists are at the mercy of the hygienists and will work around their schedule as needed.
Conclusion
In conclusion, the comparison of these two careers has brought to light some very important aspects of each position. From the research conducted, I would recommend a career as a Financial Advisor. The reason for that recommendation is the practically unlimited earning potential, as well as the bonus programs and the opportunity for world travel. Some people may never be able to travel to places in the world where financial advisors a gifted with trips. That is an opportunity that many other careers to not provide. These positive aspects along with the essential health insurance families require, I feel the financial advisor is the best choice in professional careers.

Resources

Compensation & Partnership - Edward Jones Careers. (n.d.). Retrieved October 12, 2014.
Dental Hygienist. (n.d.). Retrieved October 12, 2014, from http://money.usnews.com/careers/best-jobs/dental-hygienist
Dental Hygienist. (n.d.). Retrieved October 21, 2014, from http://www.ada.org/en/education-careers/careers-in-dentistry/dental-team-careers/dental-hygienist
Eun, H., Sohn, Y., & Lee, S. (2013) The effect of self-regulated decision making on career path and major-related career choice satisfaction. Journal of Employment Counseling, 50(3), 98-109.
Paikert, C. (2013, April 11). J.D. Power Picks Top Firms for Financial Advisor Satisfaction. Retrieved October 21, 2014, from http://www.financial-planning.com/news/Edward-Jones-Commonwealth-Top-JD-Power-Satisfaction-Study-for-Advisors-2684254-1.html
What We Offer: Affiliation Models. (n.d.). Retrieved October 21, 2014, from http://www.commonwealth.com/joinus/affiliation-models.aspx