What is financial advisor

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

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?

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Leave a Reply

Your email address will not be published. Required fields are marked *