Do you know about financial advisor? It is a professional work that can be hire by individuals ,business, organization to give advice about financial. This professional could give advice about pension planning, on insurance , loan and other’s financial management.Financial advisors usually meet with established clients at least once a year to update them on potential investments and adjust their financial plan to any life changes—such as marriage, disability, or retirement.
Financial advisor job task
- Build and maintain client bases, keeping current client plans up-to-date and recruiting new clients on an ongoing basis.
- Contact clients periodically to determine if there have been changes in their financial status.
- Devise debt liquidation plans that include payoff priorities and timelines.
- Explain and document for clients the types of services that are to be provided, and the responsibilities to be taken by the personal financial advisor.
- Explain to individuals and groups the details of financial assistance available to college and university students, such as loans, grants, and scholarships.
- Guide clients in the gathering of information such as bank account records, income tax returns, life and disability insurance records, pension plan information, and wills.
- Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
- Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, and other information needed to develop a financial plan.
- Monitor financial market trends to ensure that plans are effective, and to identify any necessary updates.
- Prepare and interpret for clients information such as investment performance reports, financial document summaries, and income projections.
- Recommend strategies clients can use to achieve their financial goals and objectives, including specific recommendations in such areas as cash management, insurance coverage, and investment planning.
- Research and investigate available investment opportunities to determine whether they fit into financial plans.
- Analyze financial information obtained from clients to determine strategies for meeting clients’ financial objectives.
- Answer clients’ questions about the purposes and details of financial plans and strategies.
- Review clients’ accounts and plans regularly to determine whether life changes, economic changes, or financial performance indicate a need for plan reassessment.
- Sell financial products such as stocks, bonds, mutual funds, and insurance if licensed to do so.
- Collect information from students to determine their eligibility for specific financial aid programs.
- Conduct seminars and workshops on financial planning topics such as retirement planning, estate planning, and the evaluation of severance packages.
- Contact clients’ creditors to arrange for payment adjustments so that payments are feasible for clients and agreeable to creditors.
- Determine amounts of aid to be granted to students, considering such factors as funds available, extent of demand, and financial needs.
- Meet with clients’ other advisors, including attorneys, accountants, trust officers, and investment bankers, to fully understand clients’ financial goals and circumstances.
- Open accounts for clients, and disburse funds from account to creditors as agents for clients.
- Authorize release of financial aid funds to students.
- Participate in the selection of candidates for specific financial aid awards.
Source :- CareerPlanner
How about that? Do you want to become financial advisor after this?