Job Description
As a financial advisor, I help my clients achieve their financial goals through comprehensive financial planning. The ultimate objective is a successful and long term implementation with your clients. Solutions include insurance products, investment vehicles, spending plan development, tax planning, and estate planning strategies.
Daily activities include but are not limited to lead generation, client acquisition, development of financial plans, presentations to clients, investment/asset management, insurance brokering, and seminar presentations.
The business model is similar to that of a doctor. Once your client base is built, you may remain as an employee or franchise a practice to become a small business owner.
This is far and away one of the most rewarding careers in the world but it does not come without some blood, sweat, and tears. The learning curve is steep and challenging with the opportunity of continuing education.
In the long run, the business provides me with the ability to grow my own practice and build it according to my own vision. This career is one that I will be in from now until I retire because not only is my work rewarding, but I will also have the flexibility and independence I desire in order to support my loved ones.
Pros
- empower clients to achieve their dreams
- very high income potential with recurring revenue over the long term
- broad industry allows for specialization or creating a niche
- high job satisfaction/fulfillment
- challenging work
- skill set and lessons learned can be applied in personal life
- provides the opportunity to start your own business
- choose the clients you want to work with
- never stop learning
- broad industry allows you to specialize in a variety of financial planning disciplines ie, retirement planning, estate planning, small business planning, investments, insurance, etc.
Cons
- high stress requires high emotional competency
- high turnover
- commission structure causes potential conflict of interest/compromising integrity
- low income in first few years
- must maintain certain level of business generation according to quotas
- long hours
- volatile income streams
- high level of regulations/compliance rules in industry adds to frustration and hinders business activities
Company Size
10,000 or greater employees
Pay Range
$80,001-$90,000
Years in Job
3
Education
BA
City
Redwood City
State
CA
