Michigan Financial Companies 2025 Summer Internship

• DESCRIPTION:

The Michigan Financial Companies Summer Internship program is designed to help college students gain real-world experience in the financial services industry while preparing for their own careers through licensing and prospecting. Over the course of 8 weeks, interns will learn first-hand about a career as an advisor. Interns will have the opportunity to shadow top advisors as they work with their clients on networking, phoning, and building a network, and start their own client base by writing cases. Interns will also create a business plan for themselves as a new advisor entering the industry and present it to the leadership team.
TIMELINE:

Prior to June 2: All selected interns will be required to pass their SIE exam prior to the start of their internship on June 3. The timeframe for studying will be left to their own judgement, but we recommend discussing with the program director as to a suggested timeframe. MFC will pay the cost of the study materials and the exam (a $250 value). Interns will also be asked to read The Game of Numbers by Nick Murray and prepare a 1-page summary of their thoughts on the book.

June 2 – June 6 (Week 1): During the first week of the internship, all interns will spend their full workday in our Southfield office for training. This training program will contain a lot of the same training a new, inexperienced full-time advisor would receive. Interns will receive training on our systems, writing business, prospecting, marketing techniques, networking, product overviews and more. Interns will also learn more about each of the items on their internship “task list” and receive guidance on the various projects they will be working on throughout the summer.

June 9 – July 25 (Weeks 2-8): Following week 1, most of the intern’s time will be spent working on completing assignments on the task list, prospecting, and following the 6-step financial planning process with a senior advisor. Interns will be responsible for making calls, attending networking events, and building a network on LinkedIn of professionals in a target market. Meetings will be held weekly to evaluate progress towards goals and recognize top performers for the week.

Each week, additional training sessions will be scheduled for the intern class to help them obtain a full understanding of the financial services industry and insight into the various components of a career in financial services.

July 25: Throughout the internship, each intern will work on a capstone project that consists of building a business plan themselves as a new advisor entering the industry. The final day of the internship will consist of capstone project presentations in front of members of the MFC Leadership Team.

End of internship: The top two interns from the internship program may be given the opportunity to join the firm full time as a financial advisor upon graduation.

COMPENSATION:
•$2,400 stipend paid out by MFC over the course of the internship
•$100 bonus for each week phoning and networking goals are reached ($600 total, Weeks 2-7)
•SIE online study course and materials + cost of the exam ($250 value)
•Weekly awards for most calls made, appointments set, and connections made