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Potential Career Paths for Economics Majors

February 25, 2014
Paul Vorstadt
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Toronto-based discretionary portfolio manager Paul Vorstadt presently serves as a portfolio manager with National Bank Financial. To prepare for his career, Paul Vorstadt studied economics at Wilfrid Laurier University.

In addition to their conventional roles as banking professionals or portfolio managers, people who earn a degree in economics now find that they have career options available in a wide array of fields, including commercial business, government, and education. The average student who graduates with an economics degree is highly competitive as compared to peers with other business degrees, as large organizations value the analytical training economics students receive.

For individuals who have studied economics, there are a number of government positions available, including agricultural and urban economics agencies. In some states, general economics education is required to teach at the high school level, which gives graduates in the field an advantage over their peers. Some common professional titles for economics majors include project administrator, operations research systems analyst, and statistician.

© NATIONAL BANK FINANCIAL. All rights reserved 2013 – 2017.
National Bank Financial is an indirect wholly-owned subsidiary of National Bank of Canada. The National Bank of Canada is a public company listed on the Toronto Stock Exchange (NA: TSX).

Products and services of the National Bank Financial — Wealth Management are only offered in jurisdictions where they may be lawfully offered for sale. All products and services are subject to the terms of the applicable agreement. The information in this Website is subject to change without notice. This communication does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should consult with their financial adviser to determine if these securities may lawfully be sold in their jurisdiction.

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Finding the Right Kind of Investment Planning

February 7, 2014
Paul Vorstadt
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A portfolio manager for National Bank Financial, Paul Vorstadt makes sure to keep his clients informed about the ups and downs of financial markets. Additionally, Paul Vorstadt encourages his clients to ask questions of their financial planners rather than trusting them implicitly. Significant differences exist between planners, with two major philosophies dominating within their ranks.

Fiduciary planners are legally required to place the client’s interests ahead of their own and their firm’s. They must exercise prudence in making their recommendations and must disclose important aspects of any financial entities. They must have no conflicts of interest. If such conflicts are unavoidable, they must manage them in the client’s best interest.

Suitability planning, by contrast, maintains that investment decisions must only be suitable to the client’s particular situation. Regulatory authorities mandate that brokers have a “reasonable basis” for their decisions.

Investors should ask several questions of their advisors. For example, they should always ask whether the advisor is fiduciary, making decisions in the investor’s best interest, or whether the advisor believes in suitability instead. They should ask whether the advisor will reveal all necessary facts about financial products, such as conflicts of interest. Finally, investors should ask in advance what fees and expenses will apply to their account.

 

© NATIONAL BANK FINANCIAL. All rights reserved 2013 – 2017.
National Bank Financial is an indirect wholly-owned subsidiary of National Bank of Canada. The National Bank of Canada is a public company listed on the Toronto Stock Exchange (NA: TSX).

Products and services of the National Bank Financial — Wealth Management are only offered in jurisdictions where they may be lawfully offered for sale. All products and services are subject to the terms of the applicable agreement. The information in this Website is subject to change without notice. This communication does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should consult with their financial adviser to determine if these securities may lawfully be sold in their jurisdiction.

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