Personal Financial Advisor Research Paper

781 Words2 Pages

Marino Martinelli
10/1/2017
CSD – 101
Career Research Paper: Personal Financial Advisor
Page Break Personal financial advisors help people with their finances. Advisors give people advice on investments, taxes, college savings, estate planning, mortgages, retirement and insurance. Advisors help clients plan for short-term goals such as paying off debt or long-term like saving your children's college fund. They invest their client's money based on the client's decisions regarding risk and goals. They will also explain the different types of financial services they offer to potential clients. As well as educate clients and answer questions about investment options and discuss their potential risks. Using this information, they will recommend …show more content…

During this time, new advisors work under the supervision of senior advisors and learn how to perform their duties, including building a client network and developing investment portfolios. This training usually lasts for more than a year. There are several pros of the job such as having unlimited earning potential, holding low start-up costs, high lifetime earnings, flexible hours, and you have the courtesy of being your own boss. However, there are several cons such as being forced develop a client base, marketing costs range widely, and 40-50+ hrs. a week for first 5 …show more content…

First, an advisor needs analytic skills to determine an investment portfolio for a client. Advisors must be able to determine correct investments using a range of information, including economic trends, regulatory changes, and the client’s comfort with risky decisions. An obvious trait advisors need is math skills. Financial advisors should be good at math as they work with numbers all the time. Another example of a skill an advisor would need is interpersonal skills. Interpersonal skills are a major part of a personal financial advisor’s job as they attempt to make clients feel comfortable. The advisors need to establish trust in order to legitimize their services. They need sales skills in order to gain more clientele. The advisor must convince their clients and be persistent in selling their services in order to be successful. Finally, advisors need good speaking skills as they speak with clients every day. They must explain complex financial concepts in language their clients can

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