Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients.
Work Activities
-
Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
-
Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
-
Manage client portfolios, keeping client plans up-to-date.
-
Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
-
Answer clients' questions about the purposes and details of financial plans and strategies.
-
Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
-
Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
-
Contact clients periodically to determine any changes in their financial status.
-
Investigate available investment opportunities to determine compatibility with client financial plans.
-
Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
-
Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
-
Prepare or interpret for clients information, such as investment performance reports, financial document summaries, or income projections.
-
Monitor financial market trends to ensure that client plans are responsive.
-
Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
-
Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
-
Recruit and maintain client bases.
-
Devise debt liquidation plans that include payoff priorities and timelines.
-
Open accounts for clients and disburse funds from accounts to creditors as agent for clients.
-
Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
-
Inform clients about tax benefits, government rebates, or other financial benefits of alternative fuel vehicle purchases or energy efficient home construction, improvements, or remodeling.
-
Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.
-
Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
-
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
-
Speaking
Talking to others to convey information effectively.
-
Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
-
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
-
Speech Clarity
The ability to speak clearly so others can understand you.
-
Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
-
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
-
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Education Bachelor's degree
- Work Experience No work experience
- Training More than 1 year on-the-job training
-
Looking for technical training programs?
Check out these programs:
Enterprising: People interested in this work like activities that include leading, making decisions, and business.They do well at jobs that need:
-
Integrity
-
Dependability
-
Attention to Detail
-
Analytical Thinking
-
Concern for Others
-
Achievement/Effort
-
Personal digital assistant PDAs or organizers
-
Personal computers
-
Notebook computers
-
Desktop computers
-
Desktop calculator
-
Financial analysis software
-
Enterprise resource planning ERP software
-
Document management software
-
Data base user interface and query software
-
Customer relationship management CRM software
