Financial Services Sales
The core role of the financial adviser is to fairly and objectively evaluate the financial planning and protection needs of his or her client, based on a detailed 'fact-find', conducted with the client. Having carried out this evaluation, the financial adviser will then identify and recommend the products that are most appropriate to the client's needs.
Best interest of client
The adviser must consider all relevant factors that may influence which product - or combination of products - is right for the client, including their ability to comfortably afford the cost. The professional adviser requires a thorough knowledge of the whole product range, and their implications and benefits for the client.
The role of the financial adviser is to provide honest, accurate financial advice in sufficient quantity to generate an acceptable level of revenue. There will targets to achieve (as per any sales environment).
Advice may be provided across a wide range of products, including:
- Personal pensions
- Term life assurance
- PEPs/ISAs
- Endowments
- Unit/investment trust-based savings plans
- Lump sum investments
- Critical illness, sickness and disability cover
- Mortgage-related products
Client partners have a substantial, existing client database and this forms the basis of a financial adviser's client bank and provides 'leads' - in many cases, existing clients to service and develop.
High level of autonomy
In addition, new clients are referred through a company's advertising/marketing campaigns, general name awareness and proactive business development on the adviser's part. If service provided is to existing clients is good, recommendations to family and friends will normally ensue.
If you are a field adviser, you will have a base to work from, but a significant amount of time will be spent meeting clients at their work or home. This may well require a willingness to work some evenings.
This means you will have a high level of autonomy in organising and planning your schedule, so self-discipline is important. If call centre-based there may be a requirement to work evenings or shifts.
The financial services industry is constantly improving its standards. It will probably be necessary to undergo further qualifications in years to come, if you want to get to the top. Financial services employers want people committed to their own continuous personal development.
After qualifying to FPC/CeFA stage 3, there is a further, higher level qualification - the Advanced Financial Planning Certificate (AFPC) - regarded as the industry's top qualification. There are also now highly regarded financial services degrees offered by universities around the country.
Best quality service
Client partners will do everything to assist progress in your chosen career. However, advancement is down to personal drive and commitment. With the training and the qualification you will receive, you will have a licence to practice in the financial services industry.
With the great unsatisfied demand for financial advisers, opportunities for rapid progression through the management ranks are excellent throughout the industry - for the right people.
The successful financial adviser will display the following aptitudes and characteristics:
- Empathy and trustworthiness
- Excellent listening and communication skills
- Determination and resilience
- Self-motivation and discipline
- Eye for detail and good organisational skills
- Analysis and evaluation skills
- Genuine, caring attitude
- Desire to provide best quality service
For your nearest Hays Financial Services office, click here.
