Kicking-off your Financial Advisor Job
If you are good with numbers, love meeting people, have exceptional public relation skills, an interest in sales and marketing and have the drive to break expected sales targets, then a rewarding financial advisor job might be the best career option for you.
A financial adviser is a professional who advises his or her clients on investment and financial planning. These clients can vary from individuals’ right down to businesses institutions and companies. As a financial advisor, you would be expected to help your client in maintaining their desired balance of income and capital gains with their total expenditure as well as to measure and predict the levels of risk involved in their investments and asset allocation.
In providing financial advice, advisors use stocks, bonds, mutual funds as well insurance products to meet their client’s interest and requirements.
Financial advice and strategies are also provided in the areas of retirement and estate planning and for major events in a clients’ life such as marriage, education and having children. With stable financial recommendations, the financial advisor can make the transition of these events much easier for their clients as financial security is guaranteed.
If you are interested in this career, then getting a sound educational background is essential. You would at least need a university degree to be qualified as a Certified Financial Planner (CFP). Grades for a university degree for a financial advisor are very high, usually with a CGPA of 3.1 and above.
Though that, a university degree alone does not provide the essential skills to make it big in this industry. You may need a good deal of experience in dealing with clients as well as good interpersonal skills. Building good rapport and customer relations are crucial in making your way to the top.
The best way to kick-start you career in financial advising is by getting a job in a financial company which offers training programs or banks which will provide training for up to 3 to 6 months. Subsequent professional exams after your degree will give you more credibility and a faster route up the salary ladder.
When you are in a financial advisor job, you can expect to earn an average salary of $120,000 annually. Though that, your salary depends on your company’s salary policy-whether by commissions or fee rate. Either way, you are bound to earn big provided you are hardworking and eager to make money and chase your goals.
As a beginner in a financial advisor job, your salary and commissions will be low but will gradually build up as your clientele increases. As you gain in experience and have a strong network of contacts throughout all those years of working, you can eventually decide to choose to work on a freelance basis.
Some internationally recognized financial planning companies that you can start in are Merril Lynch, Ameriprise, ING, John Hancock, Amicorps, Prudential and Great Eastern.
There are also numerous bodies that regulate, monitor, educate and support the financial advising field such as the Financial Planning Association of Malaysia, Malaysia Financial Planning Council, International Association of Registered Financial Consultants and the Financial Planning Standards Board Ltd.