Personal Financial Advisor Job Description

March 20, 20120 Comments

Personal Financial Advisor Job Profile and Description

A personal financial advisor provides the clients with relevant personal advices on finance related plans. They utilize their knowledge of investment and tax strategies, real estate, insurance, securities and pension plans to access the client’s total insurance coverage, cash flow, liabilities and assets. Maintenance of an easier retirement strategy or huge asset requisition is the most important service provided by a personal financial advisor. They help to maintain a good balance between earned investments and the probable risk levels by delivering potential personal financial advises.

Personal Financial Advisor Duties and Responsibilities

The prime duties and responsibilities of a personal financial advisor include:

  • Maintenance and building up of client bases.
  • Keeping a track of the current client plans and also involving new clients at an ongoing basis.
  • Devises debt liquidation plans including timelines and payoff strategies.
  • Advising the clients on the current and the most apt financial plans depending on his short or long term goals.
  • Providing proper guidance to the clients for the gathering relevant information on bank records, pension plans, insurance records, income tax returns etc.
  • Help the client to maintain a balance between the asset acquisition and his need of daily liquid cash to meet the client’s requirements.
  • Pooling the shareholder’s money and investing it in the viable group assets in case of a mutual fund.
  • Participation in the selection of candidates for financial aid awards

Personal Financial Advisor Skills and Specifications

A personal financial advisor must possess the following skills and specifications:

  • Excellent written and verbal communication skills
  • Necessary knowledge on insurance, tax accounts, financial accounts and retirement accounts.
  • Noteworthy communication and analytical skills
  • A proven and remarkable track record of having worked as a good financial advisor.
  • Must be trustworthy and have competency in working under high pressure and for long hours.

Personal Financial Advisor Education and Qualifications

The following education and qualifications are a must for a personal financial advisor:

  • A Bachelors’ Degree or an equivalent graduate degree, preferably in the field of finance.
  • Associate degrees or special course on investment banking or risk management.
  • On job training on dealing with personal policies, like retirement plan, insurance, loan etc.
  • Though it is optional, yet a Masters degree on financial Management gives an edge.

Personal Financial Advisor Salary:

A professional personal financial advisor gets on an average an annual salary of about $145k. Apart from this, the salary of a personal financial advisor also depends on the total years of experience and expertise, where the company is situated, etc.

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