Marg Career Library - Financial Advisor/ Planner

Overview:

A financial advisor/planner or personal financial planners are the professionals who guide individuals on tax planning, investments and retirement planning. They may work for large investment firms, smaller companies or as private practitioners. The opportunities are aplenty with Banks, Financial Planning Outfits, Wealth Managers, Life Insurers, Accounting Firms, Stock brokers seeking professionals with such expertise.

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Career Path:

Financial advisors go on to take an MBA or gain certifications in specific financial product/instruments.

Stream of Study in 12th Grade/School:	Commerce Science with Mathematics
Degree/Graduation Courses:	B.Com BBA BA Economics B.Sc. Economics
Higher education/Post Graduation Courses:	M.Com(H)economics, finance, statistics and business MBA along with Finance Pursue Certified Financial Planner (CFP) course from Financial Planning Standards Board of India (FPSBI).For more Info about (CFP) and (FPSBI) visit www.fpsbindia.org

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Top Colleges:

Indian Institute of Financial Planning, New Delhi
SP Jain Institute of Management and Research, Mumbai
International School of Business & Media (ISB&M), Pune
ICFAI

Job Opportunities:

Private Sectors / Firms
Bank
Brokerages
Financial Consultancies
Financial Research
Fund Management Companies
Investment Banks
Life Insurance Firms
Self-Employment
Wealth Management Firms

Job Responsibilities:

Meet with the client to estimate their financial resources and their financial goals
Help and advice clients based on their needs and goals and recommend investments.
Maintain proper documentation following pre-set guidelines established by compliance and management
Comply with all industry rules and regulations
Execute and negotiate follow through of implementation vehicles including insurance, investments, tax planning, debt management, estate planning, and other tasks quoted to client
Decide how to build your practice by choosing your clients and the markets you want to pursue.
The financial advisor needs to add value by conducting due diligence on the types of services and products they recommend to their clients. This work can include speaking with portfolio managers, researching tax-reduction strategies and maintaining a strong knowledge of economic, market and industry/product trends.

Work Life:

The work includes in-person meetings, as well as client interactions by phone or email. Meetings may simply be check-ins to ensure the client is comfortable with how his or her investments are performing, financial market updates, annual portfolio reviews and/or offers of new services for the client. These meetings can also be more casual in nature and may just be to discuss changes in the client’s lifestyle, employment, marital status or children’s needs.
They spend at least half of every day either by developing a referral network or meeting with prospects in person.
Many established advisors will begin their day by reviewing client portfolios, answering client inquiries and addressing outstanding issues before moving on to new business.
They spend a significant segment of their workday dealing with bureaucratic tasks such as compliance reports, updating client records, processing trade tickets and dealing with other recordkeeping procedures.

Key Skills:

Interpersonal and communication skills
Listening skills and ability to think
Analytical skills
Presentation skills
Research skills
Persuasive
A flexible approach to work and time management skills

Designation:

Entry level

Mutual Fund Advisor, Assistant RM- Investment Product, Equity advisor

Mid level

Wealth Manager-Private Banking, Senior Manager-Investor Relations, Private wealth RM-Financial Advisor

High level

Senior Financial Consultant, Loan Consultant, Head -wealth management, Certified Financial Planner

Merits & Demerits:

Merits

1. High Earning potential
2. Get to offer meaningful advise
3. Once an advisor establishes a client base, the career lends itself to flexibility in work hours

Demerits

1. Continuous Prospecting
2. Highly stressful during economic downturn

Overview
Career Path
Top Colleges
Job Opportunities
Job Responsibilities
Work Life
Key Skills
Designation
Merits & Demerits

Financial Advisor/ Planner

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