Job Description of a Finance Professional

Professional Financial Advice

We all need the assistance of a finance professional at one time or another. A finance professional is a person who assists us with basic and complex financial decisions related to our debt, savings, wealth growth and retirement planning. Finance professionals also help us create strategies to protect the wealth and financial means that we already have acquired.

Salary Data

Finance professionals, or financial advisers, are in high demand and play an important part in our economy. The average annual salary of a finance professional is $86,000 nation wide. This is an average for all types of finance professionals combined. This salary is approximately 32 percent higher than the average salary for all occupations nation wide. This salary data was provided by Indeed and is current as of 2009.

Nature of the Work

This is a professional job and is almost always conducted indoors and out of the elements. This is a high skilled, white collar profession. This has been listed as one of the best jobs in America several years running. The finance professional work is self-directed and allows for creativity within a daily work schedule. It does sometimes require visits to a client's home or places of work. The attire for this profession is generally business dress and requires a great deal of sales and presentation skills.

Job Outlook

This is one of the fastest growing job classes in the United States. The growing demand for qualified financial advisers and financial professionals is increasing due to the number of Americans growing nearer to retirement age. The Bureau of Labor Statistics states, "Personal financial advisers are projected to grow by 30 percent over the 2008-2018 period, which is much faster than the average for all occupations. Growing numbers of advisers will be needed to assist the millions of workers expected to retire in the next 10 years." This is great news for students who are currently considering a career in financial advising.

Qualifications

To enter this profession, it is necessary to either have earned a bachelor's or master's degree in business, finance or another related discipline. In addition to a college degree, a financial professional, financial adviser, must also be certified to practice his profession. The level of licensing and certification depends on the level of service and type of financial instruments a professional will advise on or sell. Insurance, stocks, bonds and other types of investment vehicles will require specialized licensing. To practice as a general adviser, a candidate must become a Certified Financial Planner (CFP).

Job Duties

This job requires business development or sales. The adviser is responsible for growing her practice by locating new clients and client companies. She must secure new business through cold calling, direct marketing and other proven sales techniques. She must identify her clients' needs by analyzing their present income and asset situation. Then, she must start by recommending appropriate investment and insurance solutions, outlining proper financial management skills and advising the clients on how best to protect their current assets. The adviser must continue to service the accounting by providing updates, new investment ideas and answering their questions.

References

• Bureau of Labor Statistics
• Indeed
• Job Description