Financial advisers provide clients with specialist advice on how to effectively manage their financial wellbeing. The role involves researching the marketplace and recommending the most appropriate products and services available, ensuring clients are aware of and understand products that best meet their needs and then securing a sale.
Advisers may specialise in particular products, depending on their clients, such as selling employee pension schemes to companies or offering mortgage, pension or investment advice to private clients. Others are generalists, offering advice to clients in all of these areas, as well as saving plans and insurance.
*In order to give financial advice, advisers must have professional qualifications and follow strict financial industry rules.
Financial advisers may be known as financial planners or wealth managers.
Tasks vary depending on the role but typically involve:
Manage your own time within a flexible environment. Industry leading training programmes provided to enhance knowledge and refine skills set.
What to Expect
Although this area of work is open to candidates of any discipline, the following subjects may improve your chances:
Entry without a degree is certainly possible and we often regard personal qualities as important as academic qualifications. Matric, however, is a minimum requirement.
Relevant experience in a customer service, sales or financial services setting is also viewed positively. New entrants are assigned a mentor in order to facilitate learning alongside experienced advisers.
It is possible to enter the financial advice sector as a Para-planner, providing research and administrative support to a financial adviser.
You will need to show evidence of the following:
A full driving licence is required. Cellphone and laptop are essential.
EQ.FIN provides in-house training through a combination of formal tuition and on-the-job training. Trainees will gradually begin to work with clients under supervision and, gaining experience and qualifications, will acquire their own book of clients.
In the early stages, you will usually shadow an experienced financial adviser, doing some of the research and administration connected with their work and then you will gradually begin to deal directly with clients yourself, under supervision. As you become more experienced, you will acquire your own list of clients. After you are qualified, regular supervision ensures that you maintain levels of competence and compliance with regulations.
The qualifications that you take may depend on the requirements of the organisation you work for and their specialist area.
After a period as a successful financial adviser, you could choose to:
Some advisers move into compliance work, which involves ensuring that all advisers follow company rules and regulations issued by regulatory bodies.
You should continue to develop your skills and knowledge throughout your career. Studying for more advanced or specialised professional qualifications can enhance your career development opportunities.
The ideal candidate is between the ages of 23 – 59.