The finance market is very vast with lots of competition .An individual opting career as financial advisor has to come across many factors which need proper timely dealing with confidence. We all agree with this fact that handling and advising others about their finances is all about handling risks and rewards which has very crucial impact upon the client and as well as the advisor.
Traditionally, this profile included buying and selling of securities on behalf of client. Now financial advisor take holistic view of their client’s financial needs and goals and guide them accordingly. Hence, financial advisors are popular as financial planner or investment advisor. Some financial advisor specializes in serving individual clients and often others concentrate on business clients.
While opting career as financial advisor an individual needs to be graduate with some coursework either in economics, accounting or other branches of finance but this is not mandatory. But strong quantitative and analytical skills are very vital. Moreover, an MBA with specialisation in finance would have an edge in the hiring process even series of certification would be an added advantage for the individual. It’s really difficult to get a breakthrough in this field. The experienced individuals are always in high demand.
Financial advisors mostly counsel clients on investment opportunities by keeping in view client’s needs, goals and tolerance for risks. The job also needs to be in thorough touch with the financial markets. Hence, constant monitoring, reviewing the client’s portfolios and other investment strategies are part of the job. The financial advisor needs to be confident about decision making under uncertainties and also time pressures.
Moreover, strong communication skills and ability to push sales would an added advantage. The compensation factor solely depends upon the experience rather than education. In some cases it is completely commission based. The basic understanding of the client’s financial situation, insight knowledge about the current trends of financial markets and above all the insight knowledge makes an individual a popular financial advisor.
There’s no doubt that career option as financial advisor is very challenging which requires hard work, several trainings and genuine desire to help people. They help millions of families by guiding and managing their finances and also the unforeseen scenarios of the future.