Financial Advisor Job Description: Top Duties and Qualifications

A Financial Advisor, or Independent Financial Advisor helps people or businesses organise their finances. Their duties include discussing finances and financial goals with clients, developing financial strategies for clients and reporting on financial progress.

 

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Financial Advisor duties and responsibilities

Financial Advisors perform several tasks to serve their clients better. Their responsibilities vary depending on their speciality, but often include:

  • Meeting clients and discussing their finances and financial goals
  • Researching financial products for clients and explaining their key features and benefits
  • Negotiating better financial deals with providers on a client’s behalf
  • Researching financial law changes and economic trends
  • Reporting their clients’ financial results and investment progress
  • Supporting investment professionals to cultivate client relationships 

 

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Financial Advisor Job Description Examples:

 

Example 1

Job Title: Financial Adviser

Location: Edinburgh/Glasgow/Dundee/North Berwick

Minimum Requirements: Level 4 Diploma in Regulated Financial Planning

Earnings: Self-employed opportunity with uncapped earnings and the opportunity to build value within the practice

Are you a qualified advice professional looking to progress your career?

Since establishing in 2014, Gilson Gray Financial Management LLP is highly regarded as one of the fastest growing companies in Scotland. The company is a Senior Partner Practice of St. James’s Place Wealth Management and offers holistic wealth management advice to private and corporate clients across the UK.

Operating across the central belt of Scotland, Gilson Gray has further expansion plans and is looking for Financial Advisers *to join us to provide holistic financial planning advice to private and corporate clients based across the UK. The business is seeking a highly motivated, ambitious, self-starter to join us in building quality, long-term relationships with clients.

How Gilson Gray Financial Management will support you:

· Bespoke support to smooth your transition into our business

· Existing client servicing opportunities with both private and corporate clients

· Access to our distinctive approach to investment management

· The St. James’s Place Advice Guarantee*

· Specialist advice and technical support

· Exceptional marketing support, including client events

· Support in working towards Chartered status

· The power of the St. James’s Place brand

· Streamlined administration allowing more face-to-face time with clients

Additional Marketing & Administration Support:

You will receive support and training to build your own network of introducer relationships. If you need help with lead generation, we can give you the sales and marketing support you need, with opportunities to access a portion our existing client bank.

You will have the benefit of working with well-trained people using proven processes and the latest technology. We will support you to ensure that client cases are processed efficiently and effectively. This will enable you to focus your time on generating face-to-face activity with clients, without being burdened with excessive administration.

What we are looking for:

  • Diploma Level 4 qualified preferably with 1 years’ experience giving holistic financial advice
  • A professional attitude to work that helps us maintain a supportive culture within the business
  • Capability of working to a target efficiently, maximising and activating the potential of every lead
  • Looking for your next logical step in your career and can demonstrate that you are very proactive, dynamic and ambitious
  • A sufficient self- starter who can maximise the GGFM support structure behind you to reach your full potential
  • A focus on best practice, strong team spirit, positive customer outcomes and experience.
  • The ability to engage successfully with new leads and new customers efficiently and proactively

    What will you be doing?

  • Talking to clients to determine their expenses, income, insurance coverage, financial objectives, tax status, risk tolerance, or other information needed to develop a financial plan
  • Advising strategies for clients in insurance coverage, investment planning, cash management and other areas to help them reach financial objectives
  • Reviewing client accounts and plans on a regular basis to understand if life or economic changes, situational concerns, or financial performance necessitate changes in their plan.
  • Preparing or interpreting financial document summaries, investment performance reports and income projections for clients
  • Building and maintaining your client base
  • Providing clients with advice and guidance on lending, mortgage, investment and insurance products
  • Establishing client’s future requirements and tailoring advice and services to meet these needs
  • Giving sound advice on the best options available to safeguard client financial assets

    Job Type: Full-time

    Benefits:
  • Casual dress
  • Flexible schedule
  • Referral programme
  • Wellness programmes
  • Work from to Friday
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    Example 2

    * Opportunities in the UK

    We are actively hiring experienced Independent Financial Advisors for a variety of positions    internationally*. The role and support offered will be based on your experience and career aspirations.

    WorldNet Consultants Ltd is a boutique-style recruitment company which has now been established for over 25 years and is recognised as the leading offshore “specialists”, placing high calibre professionals for the elite Wealth Management Brokers.

    Our selective client base includes the UK, Europe, Africa, Latin America, the Caribbean, the Middle East, Far East, Canada and Australasia with opportunities available in exciting, prestigious cities. (For the purpose of advertising our services this job is posted for London, UK).

    Key responsibilities and activities will include:

    · Looking after and growing a portfolio of clients.

    · Seek and develop new external business opportunities.

    The ideal candidate will have:

    · An entrepreneurial mindset and prepared to invest in themselves

    · Experience working in a target driven sales environment

    · Well-spoken and confident dealing with a wide range of individuals including clients and other professionals.

    · Strong communication and closing skills

    The candidate should be experienced in all areas of financial planning covering investments, pensions, protection planning and corporate financial planning, mortgages, equity release.

    Work remotely:
  • Yes / Hybrid

    Job Types: Full-time, Permanent

    Salary: £50,000.00-£150,000.00 per year

    Additional pay:
  • Bonus scheme
  • Commission pay
  • Performance bonus
  • Yearly bonus
    Schedule:
  • Monday to Advising: 5 years (preferred)
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    What does a Financial Advisor do?

    Financial Advisors help individual and business clients manage their finances better. They help their clients choose investments and financial products, including home loans and insurance. They also help them build their savings and reduce their debts. Financial Advisors typically specialise in working with either individuals or business clients. It’s also common for Financial Advisors to work with clients with specific needs, such as high-income earners or people nearing retirement. Good Financial Advisors help financial firms build credibility and customer loyalty. Successful Financial Advisors often generate positive word-of-mouth referrals which help these firms grow.

     

    Financial Advisor skills and qualifications

    Financial Advisors use a combination of industry-specific and people skills to help their clients. A successful Financial Advisor candidate will have various prerequisite skills and qualifications that typically include: 

    • Good customer service for pleasant and productive client interactions
    • Verbal and written communication, including active listening, for determining client needs and reporting financial progress
    • Negotiation skills for securing the best deals for clients
    • Understanding of economics, accounting and other financial concepts
    • Mathematics for developing sound financial strategies
    • Computer literacy, including confidence using office and accounting programs

     

    Financial Advisor experience requirements

    Financial firms typically employ Financial Advisors who have worked as Financial Services Administrators or Customer Service Advisors in banks. These positions help improve their customer service skills and industry knowledge.

     

    Financial Advisor education and training requirements

    Financial Advisors usually need a degree in financial services, accountancy or business management. Students need two or three A levels, or equivalent, to enter these degree programs. Some financial firms accept candidates who have completed financial advisor higher apprenticeships or financial services professional degree apprenticeships. These apprenticeships provide practical experience delivering financial advice.

    Financial Advisors also need a Level 4 qualification in financial advice recognised by the Financial Conduct Authority. Relevant Level 4 qualifications include a Diploma in Regulated Financial Planning from the Chartered Insurance Institute, a Diploma for Financial Advisers from The London Institute of Banking & Finance and an Investment Advice Diploma from the Chartered Institute for Securities & Investment.

     

    Financial Advisor salary expectations

    According to Indeed Salaries, the average salary for a Financial Advisor in the UK is £39,494 per year. Salaries vary according to experience, location and area of speciality.

     

    Job description samples for similar positions

    If you do not have a vacancy for a Financial Advisor, perhaps another job description from the finance sector would suit you better. Discover our job description samples for similar positions by clicking the links below.

     

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    Financial Advisor job description FAQs

     

    Which qualities do successful Financial Advisors have?

    Financial Advisors should be personable, as they spend a lot of time talking with clients. Their positive personalities help them connect with clients and develop trust. Good Financial Advisors should also be passionate about the finance sector. This interest motivates Financial Advisors to deliver results for their clients and stay up-to-date with industry news. They should also be honest and trustworthy, as they deal with confidential client information.

     

    How can I feel confident my new Financial Advisors are of good character?

    Every Financial Advisor must register as an ‘approved person’ with the Financial Conduct Authority. Registered people must meet the authority’s ‘fit and proper’ test requirements and follow conduct rules. Most financial firms also run a Disclosure and Barring Service (DBS) to check on all new Financial Advisors. It’s a good idea to state that employment is subject to these requirements on your job description.

     

    What is the difference between a Financial Advisor and a Wealth Manager?

    A Wealth Manager is a type of Financial Advisor. Like other Financial Advisors, Wealth Managers give advice about financial matters. However, they only work with clients with a high net worth. In contrast, most Financial Advisors see middle-income people who want their finances to go further. They help their clients reduce their debts, plan for retirement and achieve other goals that Wealth Managers are less focused on.

     

    Who does a Financial Advisor report to?

    Financial Advisors report to Managing Directors or Supervisors. Managing Directors act as mentors, helping Financial Advisors develop financial strategies and customer service skills. If Financial Advisors are ever unsure how to help their clients, they can approach their Managing Directors for guidance.

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