Financial Advisors Help Clients in Many Ways

Financial advisors serve several different functions for their clients. They help them manage their finances, recommend different investment strategies to build on their portfolio and plan how they might use the dividends from their investments later in life. Responsibilities include researching the marketplace and recommending the most appropriate products and services available, ensuring that clients are aware of products that best meet their needs. Financial advisors can specialize in pensions, insurance or investments and others are generalists who offer advice in all areas as well as savings options. They must have the qualifications and required licenses while adhering to financial industry standards. Independent financial advisors research and consider different investment products to find one that best suits their client. Restricted advisors offer a limited range of products and providers. The job responsibilities are to interview the client to determine their current financial situation and help them plan future goals. They also complete risk analysis to design financial strategies and discover where the best investments are for the client.

The financial advisor also helps clients make good decisions based on the available information and resources which include a wide variety of financial products. As the client’s situation or needs change, the financial advisor can adjust the plan to meet current needs. They also negotiate with product suppliers for fair rates and serve as a link with the main office and service providers. Financial advisors must stay current with new legislation and financial products, write accurate reports and inform clients of any changes that affect them. Finally, financial advisors must follow all regulations regarding disclosure requirements, cost of services and investment products. There is a wide salary range for financial advisors ranging from $45000 to over $100,000 a year. It is a rewarding but highly competitive career choice.