So You Want to Be a Financial Advisor

I recently had the pleasure of speaking with a Financial Advisor. I am always interested in learning what entices different individuals to pursue a certain career. She explained that she had always been interested in money and what it can do. There are a lot of people who don’t know how to control and invest their own money. As a financial advisor, she enjoys assisting those individuals in achieving their financial goals, both now and in their golden years. She finally made the decision to become a financial advisor six years ago after her retirement from being a school teacher.

This particular financial advisor is now employed by Legend Equities after a six year stint with Met Life. A financial advisor’s services often include financial planning, life insurance, and long-term care insurance. She works with educators in the 403B marketplace advising them in the area of retirement plans.

One of the most common misconceptions is that annuities are the best place to invest your money. 403B and qualified plans are already tax-deferred vehicles. Therefore, the better place to invest your money would be in top-rated mutual fund families.

A financial advisor must enjoy meeting people, be able to assist them in reaching their goals, and earn their trust, respect and loyalty.

But be aware that competition is often fierce, and many representatives misrepresent the products they are selling.

Be well-versed and knowledgeable about the products and services you are offering. Make it your first priority to give full disclosure regardless of the product or service involved. Always keep your client’s best interest at heart above anything else. Their needs must be met. The more trust and loyalty you gain, the more referrals you’ll receive and the more successful you’ll become.

Building a successful financial practice is dependent on constant, ongoing service. The size of your book of business is not nearly as important as the service rendered to clients. Be available to your clients at all times.

Many individuals pursue a career as a financial advisor later in life, as a career change or after retirement from another profession. Most companies will train you if they feel you have what it takes.