Personal Financial Advisor Tips: Personal Financial Advisor Job Description and Salary

What Is A Personal Financial Advisor-  Pros and Cons

There are lots of goods and bads about being a financial adviser. The good news is when the accounts are going up, and people are following their plans, and they are doing what you advise them to do, most of the time, things turn out pretty good, especially if you're planning for long term.

Other times, if people don't follow what you agreed to do with them, which often happens; life happens is what I would say, and something comes up, and they were going to save, but then they couldn't, or they couldn't save at their job, or however; you set something up and then they didn't do it, those really, those can be very frustrating times.

And so, one of the things I think is extraordinarily important about if you want to be a financial adviser is you have to be very flexible with your clients. Every person's life changes as they go through their life, and so you can plan one thing, but life could hand you something else.

So, if you're going to get into the career, please remember, there'll be good days and bad days, and a lot of it will be based on the market, but a huge portion of it will be if your clients can take your advice. And for those who do, long term, the best part is they actually become wealthy and have the life that they deserve and want, and on the maybe not so good side, maybe they didn't save quite enough, and then they have to work a little longer.

Personal Financial Advisor Job Description

This is what it's like to be a financial advisor. My name is Janice Dunn, and I'm a certified financial planner in Eugene, Oregon, and the thing that we specialize in is looking at someone's overall financial picture, and trying to find out if there are ways that they can make that picture better; save for retirement, save for education for their children, maybe pass on money to their heirs if they would like. 

Generally, we look at taxes as part of that picture, and investments as part of that picture, and that can be everything from real estate to metals and commodities; all different kinds of things that you can put money in, and then hopefully later, it'll be worth more money than you had initially. The coolest thing about it really is that every person's plan usually is as different a different need, and you can help people, and that's really a good thing.

Personal Financial Advisor Salary

So, one of the really important things for people who go into this career is that they generally have to go through a process of anywhere from five years, ten years, fifteen years, twenty years; even thirty years in this business to be able to build income. 

Most people who are financial advisors when they first start out, they can make between about twenty and fifty thousand dollars, working for another advisor; like they could be their assist, and then they learn how the business is done, and how clients want to be treated and what your firm's philosophy is, or what your corporate culture is, and that usually takes anywhere from one to three, and sometimes as long as five years. 

Usually, when you get to the five year mark, you should be at the fifty to ninety; maybe a hundred thousand dollar mark, depending on how big of a firm you work for. The larger your firm, sometimes the more money there could be made there. 

When you have your ten year anniversary in your business, I would say if you've done your foundation work, and you've treated your clients right, and you have a referral based business, it would be prudent to say you probably could make a hundred and twenty to two hundred and fifty thousand dollars at the ten year mark, and after that, you know, the good news is the sky is kind of the limit. 

I have known advisors who make as much as three million dollars a year in their thirty year career, and they have worked very hard to get there, but you can make millions of dollars at this job, if you do the job correctly.

Financial Advisor Jobs: Why Become a Personal Financial Advisor?

I'm not exactly sure why I became a financial advisor. I didn't really have that in mind honestly when I started. What I cared about was my finances and I felt like I was a pretty smart person and yet you know my financial life was not going where I wanted it to go. 

And so I've always been the type of person where if I want to go find out about something I'll literally will go right to the source and figure out how to do that and what evolved in the process of becoming an adviser is that I have found that are a lot of people out there who don't understand money, and don't understand how money works and how taxes work and how to efficiently use our system attain wealth and transfer wealth or use wealth to their advantage. 

And if I was in a box or a vacuum and I had to say I became a adviser for a specific reason, I became an adviser for my own knowledge but at the end of the day whats evolved is that I've been able to help a lot of people with their finances and if you're feeling frustrated about money even if you don't want to become a financial adviser, my suggestion would be to at least go talk to one.

How To Become A Financial Advisor-Personal Financial Advisor Qualifications

There's lots of ways to actually become a financial adviser. That's the good news. You don't have to stay on one particular path to actually get there. Some people become financial advisers because they started out doing taxes or tax returns or they were working in accounting and they see the need for a client to not only have tax advice but maybe have investment advice. 

And so they then start down the path of getting licenses to become a financial adviser. Other people go to college literally and study finance and economics and the literally come out of college, maybe do grad school, and they go directly into a financial career. And that's an awfully quick and good path to do that if you choose that. And other people like myself, we might have ended up there, 

I ended up in my career because I like people, helping people and I had your standard college degree, Bachelors and post graduate degree. And I just did the additional classes required to become a certified financial planner. And those are done a a separate college usually that specializes in that. And on top of that you can add different types of licenses which allow you to do different types of trading. And those are regulated by the FCC and the different regulating bodies that oversee our organizations. And so as long as you keep your licenses current. Once you get them you don't want to let them expire. As long as you keep them current you don't have to go back and take all the classes all over again.

Laura J Couch 12:08 PM 1 Komentar

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Personal Financial Advisor Tips: Personal Financial Advisor Job Description and Salary

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