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What does a Financial Advisor do?

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Talent.com talent.com
Answered March 01 2021
Career Expert at Talent.com
Financial Advisors help their clients make smart decisions when it comes to money. They assess their financial situation, their goals and propose solutions that will help achieve them. Some clients have specific goals they want to achieve, such as saving for retirement or buying property. Other clients may be looking for advice or financial roadmaps as they move through their careers. 

For example, someone may want to start saving to put a down payment on their first home or save up for their child's education. Other clients may be looking for advice on how to pay off debt. Some Financial Advisors have a general background, while others may specialize in more specific finance areas, such as retirement or insurance. Beyond that, sometimes large events like weddings can cause people to seek a financial planner's advice to save and budget. 

Financial planners are sometimes licensed to buy financial products on behalf of their clients, such as stocks, bonds, annuities, and insurance. 

Average Day of a Financial Advisor
Financial Advisors split their days into a few different work categories, depending on their level of experience and particular workplace. However, as a Financial Advisor, you can expect to do any of the following. 

  • Prospecting
It depends on your level of experience, but you should expect to do some prospecting every day. You can also build an online presence to gain clients or call existing people in your network.  

  • Servicing Existing Clients
Working to have delighted clients is the best strategy to gain new clients, as happy clients are usually more than happy to refer their contacts. You might answer client inquiries or review client portfolios.  

  • Administration
Financial Advisors should be ready to keep up with administrative tasks such as compliance reports, updating client records, and so on. Financial Advisors should be able to retain a decent amount of details to make this process smoother.  

  • Continued Learning
Many financial products require that financial planners undergo training and research before they can be approved to sell them. Financial planners often attend seminars or conferences to get certified in new products or laws that affect their jobs.  
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