What does a financial advisor do?

22 November 2018

A Financial Advisor giving advice to a couple with their baby around a table and looking at documents

A career in financial advice can be highly rewarding. You will get the opportunity to use your specialised skills to help people make important decisions. The advice you offer could be life changing for the people you help.


What does a certified financial advisor do?

In order to professionally advise on financial products you must first become a certified financial advisor. Once you hold a relevant, recognised certificate such as a DipFA (Diploma for Financial Advisers), you’re ready to take on your first clients!

Your job will then be to help clients decide what to do with their money. You will recommend products based on each individual’s situation, keeping your client’s best interests in mind. These products are likely to include pension schemes, mortgages and savings plans.


The day-to-day role of a financial advisor

The role of a financial advisor will vary a little depending on the exact job they hold. Generally speaking, however, you’ll spend your time meeting with clients and getting to know what they hope to achieve with their money. You’ll then consider the best way they can do this by utilising the products available.

Once you’ve got a really good understanding of your client’s goals and circumstances, you’ll recommend the specific products that you think best serve them. It then becomes the job of the certified financial advisor to negotiate the best deal and close the sale of the chosen product.

A good financial advisor will keep in regular contact with their clients in order to update them on their investment.


The financial advisor career path

Once you become a certified financial advisor, you have a few options. You can become a general financial advisor or specialise in a specific area e.g. pensions.

Your workplace will have an impact on the products you offer and consequently help to shape your career. You may find that you can only offer products which are sold by your employer’s company.

However, whatever kind of employment you decide to seek, the more experience you gain, the higher earning potential you have.


How do I become a financial advisor?

The first step towards becoming a certified financial advisor is gaining a recognised qualification. The Diploma for Financial Advisers (DipFA) is recognised by the Financial Conduct Authority (FCA) and a fantastic choice to start you on your financial advisor career path.

The DipFA not only teaches the knowledge you need in order to offer advice, it prepares you with the practical skills required to actually begin work. This specialised qualification is designed for those who are brand new to the industry and have no prior experience.

If you can picture yourself helping people make important decisions about money, the DipFA truly is your ticket to a brand new and exciting career as a professional, certified financial advisor.

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