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Financial Advisor Job Description

A financial advisor uses his/her broad knowledge of finance to evaluate an individual or organisation’s financial position and accordingly makes suggestions to them about investments and the risks involved.

Financial Advisor Job Duties

If you enjoy the subject of finance and would like to earn a living advising people how and where to invest their money, the position of a financial advisor may be fitting for you. Several financial advisors have their own business or operate on a contract basis, while others are employed by private firms, non-profit organisations or trusts.

Responsibilities are to:

1) Assess the client’s financial status, spot problem areas and offer solutions to rectify these.

2) Based on the above, make the most suitable investment plan suggestions to the client, including securities, stock options, pension plans, insurance plans, tax planning etc.

3) Prepare formal reports on financial status or recommendations, where required.

4) Understand what the client’s immediate and future financial requirements are and accordingly integrate this into the suggested plan.

5) Match the client’s risk taking ability with his financial status, age, future plans and money requirements.

6) Keep abreast of current laws, regulations and new investment opportunity tools.

7) Evaluate all factors involved with organisational mergers, buy outs, public offerings or new businesses.

8) Ensure that all necessary legal issues are complied with and paperwork completed where required.

Financial Advisor Knowledge and Skills

1) Good analytical and mathematical skills.

2) Superior working knowledge of statistical software tools and spreadsheets such as Excel.

3) A good understanding of the country’s economy, money markets, taxation policy and prevailing laws and regulations.

4) Good communication skills to explain financial matters in simple terms to clients, who might not always understand financial jargon.

Financial Advisor Educational Qualifications and Experience

1) A Master of Business Administration (MBA) degree is preferred, but a Bachelor’s degree in Finance or Economics will usually suffice.

2) Experience of 2 to 5 years.

3) Important certifications include Certified Financial Planner (CFP), Chartered Financial Analyst (CFA) and National Association of Security Dealers (NASD).

Financial Advisor Salary and Benefits

1) Hourly rates range from $15 to $30, but individuals who have in excess of 15 – 20 years’ experience can even earn up to $200 per hour for their expert advice. Annual average financial advisor salaries range between $40,000 and $90,000 but can be much higher for well established individuals or in high profile firms.

2) Benefits usually offered by firms include medical, dental, paid sick leave and vacation time, 401(k), stock purchase options and a flexible work schedule.