Career as an Investment or Financial Advisor

Updated On: 12-Feb-2023

The financial advisor is an expert whose main job is to provide expert advice to his/her clients regarding how, where, and when to invest the money for the best return. They help their clients in making their long and short-term financial goals. Their job includes analyzing the client's financial position, understanding their needs, and then recommending the best investment for them whether it is tax saving, life insurance, health insurance, or any other investment plan.

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Day to day responsibilities of a Financial Advisor:

Connect with people through phone calls, emails or personal meetings to attract new clients
Research on all available investment products and services and recommend to clients as per their needs
Analyze the client's financial position and future aims and advise them the best investment options
Stay up to date with the financial products and legislations
Reviewing and responding to clients changing needs and financial circumstances
Keep up to date the current clients with latest developments
Keep track of financial market trends and update client portfolio accordingly
Review client accounts and record changes
Conduct workshops and seminars for clients with the purpose to inform them better about their financial goals and objectives
Addressing the clients' complaints and resolving them soonest
Performing risk analysis and defining strategies to mitigate them

A bachelor's or master's degree in finance, accounting, or business administration is a must for the aspirants.

First of all, get a bachelor degree in finance, accounting or business administration
Get specialized certification for a better and fast career growth
If you wants to be in a managerial level position, then you must go for a master degree

Communication Skills: As they need to work and coordinate with clients on a daily basis, it is an integral part of their job.
Analytical Skills: They need to analyze client requirements, analyze the market and the different investment plans to the best advice.
Math Skills: The job of financial advising is to play with numbers, so they must be good in math.
Selling Skills: their main job is to sell the product or services to their clients.
Good at research
Problem solving skills

Normally it is like a 9 to 5 office hours job but, flexibility is also required, as sometimes the client you need to meet will give you time in the evening or weekends. So you have to adjust accordingly.The salary of a financial advisor depends on certification, experience, and skills. They just don't have income through a fixed salary, but in this field, they earn through commission too. The more clients they bring more commission they earn.
The average the payscale.com , the average salary of a financial advisor in India is around Rs. 3 lakh.Well, in this field your career depends on your experience and skills, and the number of clients you have. A financial advisor usually gets a job in
1. Banks
2. Building societies
3. Financial planning firms
4. Insurance companies and
5. Investment firms

After having a good experience and if you have a good number of clients in your pocket, then you can start work as an independent financial advisor also.Pros