Being a Financial Planner, also known as a Financial Advisor or Financial Consultant, can be a very rewarding, and lucrative career. It offers unlimited income potential, work schedule flexibility, creativity opportunities, and offering meaningful advice to those in need. Over the years, building a client base can allow you to enjoy a very stable financial future for you and your family. The personal reward you receive in helping your clients to similarly build their future is like no other occupation. However, being a Financial Advisor can also be a very high risk and dangerous business to be in. The market fluctuates daily, and people investing their life’s savings can panic quickly and often. Your ability to forestall a possible situation can save your business and your career.
Some of the services a Financial Planner/Advisor/Consultant may offer are:
However, the life of a Financial Advisor is not all golden. They also practice in a very high stress industry. The financial services industry is very cyclical on a daily basis. It is fraught with the variable performance of domestic and global markets, many times based on a whim, rumors, or hearsay. When world economies perform poorly, many clients will panic and complain to their advisors immediately. Financial Planners are constantly attending to the erratic emotions of their clients based on the inevitable downturns in the market. The Financial Consultant may also earn the title of Financial Babysitter or Financial Therapist.
A successful career as a Financial Advisor requires continuous prospecting for new wealthy clients. This is not an easy task. There are also strict and severe sales quotas demanded from these professionals on a daily, weekly and monthly basis. A high number of Financial Planners will wash out and quit in total exasperation from this industry before they ever can enjoy the fruits of their hard earned efforts. The numerous long hours each day, and working 6-7 days a week that are required for this frustrating and continuous struggle can often take a toll on their marriage and family life. Many Financial Consultants work so hard to achieve their success, only to end up accomplishing their life’s goal alone and disillusioned.
Financial Advisors must undergo a tedious and expensive licensing process in order to provide advice or to sell any products to their clients. Financial Planners are required to keep their licenses in good standing by completing a number of continuing education courses with new industry information each and every year. Every Financial Consultant must carry a valid Errors and Omissions Insurance Policy for their entire career to protect their business and client’s investments. Keeping up with the many regulatory requirements will help protect their clients from malpractice. ACE Financial Group Ltd offers E&O Coverage for Financial Advisors at the lowest rate in the industry, guaranteed!