The role of a financial advisor

Taking on the role of a financial advisor provides a range of opportunities not widely available in many career fields. Besides offering valuable advice to clients, successful financial advisors have virtually unlimited earning potential, flexibility in work schedule, and control over their practice. The financial advisor field has a projected growth rate of 15% from 2016 to 2024, which is significantly higher than the average job outlook (7%), according to the Bureau of Labor Statistics. Financial Advisors made a median salary of $90,640 to $162,680, this job takes more than education and certifications, though. A job with a low stress level, good work-life balance and solid prospects to improve, get promoted and earn a higher salary would make many employees happy.

• Opportunities for advancements and salary
• Work environment flexibility and complexities of the job’s responsibilities
• Alternative working schedule and work-life balance

While offering meaningful advice is rarely the reason financial advisors begin a career in the industry, it is common that this aspect of the job is the most rewarding. The greatest role a financial advisor plays in educating clients so we can make suitable decisions. Financial advisors have the advantage of scheduling client meetings around their personal calendars and, over time, have the opportunity to work less than a full 40-hour week. Financial advisors are creative in building their client bases. Perhaps the biggest benefit of being a financial advisor is personal independence and work in a variety of settings. Financial advisors need to understand their clients’ short- and long-term financial goals—which may include retirement, saving for college, or other objectives—and offer ways to help their clients reach these goals. They explain and recommend various types of investments, decide the type and level of insurance that is necessary, and ensure that tax forms and other financial documents comply with regulations.

In a world full of confusion and noise, the one superhero that you can depend on to help you navigate the waters is a financial advisor. Financial advisors are more like a superhero who help people with their finances and fight the financial ” villain”. The financial advisor meets peoples from various backgrounds and walks of life.  A lot of financial advisors join the industry because they discover that they can make a lot of money. The best financial advisors are the ones that can sit down with someone and talk about the person’s hopes, dreams, and focusing on budgets more effectively. The Financial advisors have a lot more to do from balancing the finances and investments of multiple clients involves a lot of juggling and a lot of focus.  With this information, an advisor can offer advice to their client for a direction to take for their foreseeable future and how their offered services can help with this direction. A financial advisor with a broad-enough range can create a larger overall plan for a client, while a specialized advisor can provide expertly detailed and intricate advice in their field. Advisors can give suggestions of investments and answer any questions clients may have about their own concerns. The financial advisors must vigilantly research and stay updated on current and up-and-coming investment options.

A financial advisor can also be far more specialized than just a general advisor. Some focus on things like retirement, others on taxes, others on investments. The entire financial field is available when becoming or seeking a financial advisor, and you’ll need to know a lot; clients are putting their financial situation and future in your hands. Whether a client is financially stable, an advisor is still often helping him or her through major decisions that impact the present and future, and will also need to help keep them calm and help them make the best choice for them and their family. Personal financial advisors assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. Advisors help clients plan for short- and long-term goals, such as meeting education expenses and saving for retirement through investments. Although most planners offer advice on a wide range of topics, some specialize in areas such as retirement or risk management and monitor the client’s investments and usually meet with each client at least once a year to update the client on potential investments and to adjust the financial plan based on the client’s circumstances or because investment options may have changed. Personal financial advisors advise on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.

Duties

• Meet with clients in person to discuss their financial goals.
• Explain the financial services they provide to potential clients.
• Educate clients and answer questions about investment options and potential risks.
• Recommend investments to clients or select investments on their behalf.
• Help clients plan for specific circumstances, such as education expenses or retirement.
• Monitor clients’ accounts and determine if changes are needed to improve financial performance or to accommodate life changes, such as getting married or having children.
• Research investment opportunities.

As Retirement Shield Canada’s insurance mission is to provide retirement plan participants with the education, account management tools, and inspiration to achieve a financially secure retirement. In an industry with an ever-changing regulatory landscape and countless service providers, we help cut through the clutter by working with employers, financial advisors, and investment platform providers to develop and support exceptional employee retirement savings programs. They are committed to maintaining the highest standards of integrity and professionalism in their relationship with their clients. Their staff of accountants, attorneys, actuaries, consultants, and administrators collectively understands the challenges faced by employers and their investment advisor in successfully maintaining an employer-sponsored retirement plan. They do whatever it takes to achieve success, knowing that we all share a common goal: positive participant outcomes.