What does a Financial advisor do | Functions/Duties of a Financial Advisor

As a Financial Advisor, you should know the role and duties you are supposed to play in your Client’s financial life. You should be aware of the functions a financial advisor carries out and how to go about with your day-to-day activities.

Financial advisors has the role of managing every aspect of a client’s financial life, from retirement planning to estate planning to savings and investing.

Their duties are suggesting investment choices or selling financial products. They also assess your financial status and understand your financial goals and create a tailored financial plan to achieve those goals.

In this article, you will be enlightened on who a financial advisor is, the functions of a Financial Advisor, the skills and qualifications that a financial advisor needs to start his or her Financial career successfully.

Who is a Financial Advisor?

A financial advisor is a professional who gives financial advice or guidance to their clients. The services of a Financial Advisor includes investment management, income tax preparation and estate planning.

Functions of a Financial Advisor

The following are roles and responsibilities a financial advisor Plays in the life of their clients:

  • Market analysis
  • Market Research
  • Recruit and solicit client
  • Assess clients’ needs and goal
  • Recommend strategies
  • Execute strategies
  • Monitor account
  • Identify new opportunities
  • Follow Securities and Exchange Commission regulations
  • Financial advisors assist individuals with their investment strategies by assessing clients’ financial situations and making recommendations.

Qualifications of a financial advisor

Before starting your career as a financial advisor,you have to understand what it takes to be one and you have to know why you want to do it. The Financial profession is very rewarding, but very demanding at the same time.

Being a Financial Advisor requires certain skills and Educational qualifications:

  1. A Financial advisors must hold a bachelor’s degree in a specific fields which includes: finance, business, economics, accounting or mathematics, amongst others
  2. A financial advisor must have completed financial advisor training.
  3. Investment and financial advisors are regulated by the Financial Conduct Authority (FCA), so for you to become a qualified financial advisor, you’ll need to gain the following qualifications:
  • Diploma in Regulated Financial Planning: Chartered Insurance Institute (CII)
  • Diploma in Investment Planning: Chartered Banker Institute
  • Diploma for Financial Advisers: ifs University College
  • Investment Advice Diploma: Chartered Institute for Securities & Investment (CISI)


Skills required of a Financial Advisor

Are you fit to be a financial advisor? There are certain criteria that qualifies one to be a financial advisor, they include:

  • A financial advisor must have knowledge of financial products and the financial market
  • Must have executive mathematics and computer skills
  • Must be able to analyze and research the Market
  • Must be accurate and pays attention to details
  • Must have the dedication and willingness to work

Questions to ask your financial advisor

There are certain questions that you are required to ask your financial advisor, they include:

  1. What specific services do you provide? You can ask your financial advisor the specific services they offer. Financial advisors who actually manage money  must be registered and licensed by FINRA.
  2. What is your investment strategy? Every financial advisor has his or her own unique investment strategy, but what you require is an advisor whose strategy aligns with your risk tolerance.
  3. Who is your average client? When hiring a financial advisor, you would want to know if your advisor is someone who works with people like you and is a financial experts who have experience and is successful

We trust that this information on what a financial advisor do has been useful to you, please do well to share to someone who might need it.

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Augustus Sylvester Victor A Content Writer, Athlete, Organist and a Tutor from Akwa Ibom State, Nigeria.

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