Financial Advisor
Transcript: This is expected to be one of the faster-growing occupations over the next decade, with a projected growth rate of 27 percent between 2012 and 2022, according to the Labor Department. This increase is expected to be driven by the wave of baby boomers retiring and the fact that people are living longer and have to plan to finance more years of retirement. There is more self-trading. More Investment Options Much more service oriented industry Technology has changed the way the industry works, orders used to have to be written then faxed in Increase in government regulation What is a Financial Adviser? DeZube, Dona. "Is A Career In Financial Planning In Your Future?" Investopedia. N.p., n.d. Web. 8 Nov. 2014. Fernandez, Carlos. "Informal Interview Carlos Fernandez." Telephone interview. 8 Nov. 2014. Needleman, Sarah E. "Working as a Financial Adviser." The Wall Street Journal. Dow Jones & Company, n.d. Web. 8 Nov. 2014. "Personal Financial Advisors." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 09 Nov. 2014. Quinlan, Casey. "Financial Advisor." Job Overview. US News & World Report, n.d. Web. 10 Nov. 2014. What does the future hold? Financial Adviser What changes has my industry faced? "You can start as a broker, or even a junior analyst. This job is very particular in the sense that you are always a financial adviser. You grow your business with time and as you acquire new clients and assets, you also aquire titles that reflect your experience. However, because your income is generally commissions based these titles don't mean much, they don't even mean you're making more. Generally you will do the same type of work as an entry-level broker as you would a VP Associate, or Senior VP." -Carlos Fernandez What skills are important for Financial Advisers? Financial advisers either earn a percentage of the revenue generated from the assets they oversee or often work on commission. According to the Department of Labor, advisers earned a median salary of $66,120 in 2006 while planners with a number of wealthy clients can earn more than $250,000 a year. What hours do I need to work ? Entry level job and career path How much are Financial Advisers paid? Entry level job and career path -Paola Gutierrez Financial advisers give financial advice to people. They help with investments, taxes, and insurance decisions. A financial advisers goal is to get their clients on track to meet their money goals. Four out of 10 personal financial advisers are self-employed, operating small investment advisory firms, usually in urban areas. Generally, the time spent doing each of these depends on Adviser's career stage and experience Meet with clients in person to discuss their financial goals Explain the types of financial services I can 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 Monitor clients’ accounts and determine if changes are needed to improve account performance or to accommodate life changes, such as getting married or having children Research investment opportunities Cold-call potential customers Managerial Tasks Internal and External Marketing Works Cited Financial advisers are generally responsible for managing their own schedules. This however is dependent on the firm that each works for. "I have to work way too many, anywhere from 50-70 hours a week" -Carlos Fernandez Why did I choose this field? What are my day to day tasks? Communication skills Analytical Skills Ability to handle stress Ability to listen Empathy Multitasking Persistence
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