Financial advisor/planner
Also referred to as a financial consultant or wealth planner, a financial advisor helps individuals manage their money. Their duty is to help clients in planning their short-term or long-term financial goals. They play an advisory role in helping clients manage their wealth in a sustainable manner. They give advice in matters like investments, property buying, insurance, and taking out mortgages. Furthermore, financial planners seek out investment opportunities for their clients and help them assert the best course of action for them. Financial planners take note of their client`s needs and develop a realistic framework that matches the client`s goals. They are there to make the financial life of their clients easy and less stressful.
To be a financial planner a degree in finance, accounting or equivalent is needed. The job requires an analytical and mathematical mind, for it involves deciphering trends and making a lot of calculations. As a financial advisor, you get to deal with large amounts of data, therefore data analysis must come as second nature to you. Financial advisors are there to solve a client`s financial problems, therefore they should demonstrate problem-solving skills at any level. Apart from educational qualifications and skills, experience is a major requirement in the industry. Specifically, a minimum of three years of experience is required for the job. Financial advisors work in office environments, mainly in investment firms, banks, or other financial institutions. They can also work independently and be self-employed or own personal financial practices. A financial advisor receives an average salary of R283,809 per year in South Africa which is a hefty paycheck.
Financial planner roles
- Market research
- Market analysis
- Recruit and solicit clients
- Recommend strategies
- Execute strategies
- Monitor accounts
- Identify new opportunities
Qualifications
A degree in finance or equivalent is required to become a financial advisor. As mentioned earlier extensive experience is required in the field, as you will be dealing with people`s finances no mistakes are tolerated. Extensive mathematical and analytical skills are also required in this field for you to be successful.
Skills
- Strong analytical skills
- attention to detail
- problem-solving skills
- Confidence
- Excellent time management skills
- Research skills
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