Lala
what's it like to be a financial advisor?
- what do you do?
- how much do you get paid annually?
- do you work independently or with a group of other advisors?
4 answers
Daniel Brennan
Daniel’s Answer
Financial advisors have a unique balance of people skills as well as financial knowledge. They must balance building relationships and the trust of their potential clients, as well as display their knowledge of potential investment opportunities and trends.
Compensation depends on how good you are at your job to be honest, the more clients you have and the more success your advice results in, the higher you get paid. The rough average is about 85,000$ a year but can climb significantly.
In terms of work setup, it depends. You can be an advisor on your own, but that is often a harder path as you aren't able to build as much trust without a company/co-workers backing you. Thus, most financial advisors start by advising with other people in the same field.
If you are interested in a career as a financial advisor, you should look into Business Schools with strong Finance programs. For instance, the University of Massachusetts Amherst!
Brad Sweesy
Brad’s Answer
Financial advisor spend their day talking with clients and offering their assistance to their clients. They spend time listening to their clients issues and concerns and offering their assistance. They spend time running financial plans for clients to retire when they want to .
Income can vary significantly per advisor. It depends how productive you are as a financial advisor.
Some advisors work on a team and some advisors are independent.
I hope this helps. Good luck!
Luiz Belmiro
Luiz’s Answer
Answering your questions:
1) What do you do?
A financial advisor helps physical person and legal person with financial coach analysis and building wealth over the long term. And the financial advisors help you with all types of financial planning.
Also they can make business management and operations, budget and finance in several companies (petroleum, petrochemicals, chemicals, education, metallurgy, health, etc), and they build business portfolio and delivering customized investment solutions to clients.
2) How much do you get paid annually?
Accessing the site https://www.indeed.com/career-advice/pay-salary/how-much-do-financial-advisors-make you can verify that: "The average annual salary for a financial advisor in the United States is $66,684. Besides the annual salary, financial advisors earn an average annual commission estimated at $30,366."
3) Do you work independently or with a group of other advisors?
Financial advisors may work as an independent agent; sometimes, they may be employed by a financial firm.
Lala P. I wish you a good luck!
Luiz recommends the following next steps:
Manuel F. Melendez
Manuel F.’s Answer
Thanks for your question.
Financial Advisors, such as myself, perform a very important role by helping others plan towards achieving their financial goals and objectives. Now, at first glance it might seem a little trivial, but when you actually think about it, there are just so many folks out there that need someone knowledgeable enough to faithfully guide them in their decision-making process.
Imagine how amazing it is to meet someone, help them plan for the future, and then see the results of that plan over 5, 10, 15 years. It's literally breathtaking.
Some of the ways we help folks achieve these goals is by taking the time to understand their needs. Once you're able to fully understand them, then comes your analysis of their situation and your investment solutions proposal to try to accomplish what they set out. If they're on board and agree with what you're proposing, then you begin the implementation phase where they begin following your plans' steps and then it's a matter of periodically reviewing how the strategy is coming along and make adjustments as time passes and/or as markets change.
The bottom line is that this is a great job in a fantastic industry where you can choose to either work independently and be your own boss, work independently as part of a team, work alone in a big Firm or work in a team at a big Firm. Usually when folks work in teams, they tend to specialize in some specific area in order to become more effective as a group.
Now, in terms of compensation, yes there are national averages that provide approximate information on what people earn. However, if you're really determined and work hard (and smart), there is really no limit to what you can potentially make.
So my best advice to you is to study hard, develop a great work ethic, look to mentors for guidance and set your sights high! If you believe in yourself and plan intelligently, you're gonna do great!
I hope this was of help to you and I look forward to cheering you on!
All the best,
Manny