Albanese admits that ensuring his graduates keep a global perspective after landing a job is the ongoing challenge, as companies hone new hires. Despite this inevitability, he believes a college education withstands the on-the-job training.
“I think because they already come armed with much more information, that makes them a better advisor,” he says. “When you come through the college system and go to an insurance or investment company, you know what you know. You are an educated advisor and you can ask those questions.”
Another Toronto-based financial advisor, who wished to remain anonymous, offers a different perspective, adding that although in-house training programs are reputable, the graduates don't stand a chance competing against seasoned advisors.
"They (in-house programs) generally attract people who haven’t been in the industry before, going after a newby inexperienced," he says. "In terms of how it would affect us, we are pretty seasoned. A new person getting into the industry, we would not see as a competitor. They don’t have the track record or the experience managing money."