A financial advisor is a professional with extensive knowledge of all aspects of investment, wealth planning and protection. You might rate your skills when it comes to your finances, yet there are times when sound financial advice is very welcome. If you are planning to move into this field, you will be dealing with the following.

  • Superannuation management – Your super is your ticket to retirement and you can self-manage using a good financial specialist.  You should make your super work for your future and while the mysterious world of investment can seem a bit daunting, if you have a good financial advisor in your corner, you will make all the right moves that lead to a secure retirement.
  • Wealth generation planning – Things like ASIC compliance software help a financial advisor manage multiple portfolios; each person is unique in their circumstances and lifestyle, so being able to help a client plan for wealth generation is essential. Many clients are in their 30s, professional couples who wish to work to a plan that leads to their goals.
  • Estate planning – Some people are very concerned regarding what will happen to their estate when their time comes to leave this realm. A parent might wish to secure funding for university education for their child; trusts can be set up, which can have beneficial effects on taxation. Let’s face it, we are all looking to pay as little tax as possible and there’s no one better to help than a leading financial advisor. Click here for tips on customising tax folders.
  • Managing multiple portfolios – There is state-of-the-art software to help you with multiple portfolio management, while as mentioned above. ASIC compliance is assured. From a single interface, you can access all client data; you can generate graphs and send reports to clients, which can be automated.
  • Retirement planning – Many clients come to the finance professional in their 40s, with a view to creating a retirement plan. An excellent communicator, the financial advisor guides the client to identify their future goals; you also need to crunch the numbers and come up with a net amount that you can retire with.
  • Stocks & shares – You would need an in-depth understanding of how ASX works and be able to point out relevant factors when a client wishes to invest. Of course, you will also be investing your client’s money, which is a big responsibility, while many private investors prefer to go it alone when it comes to investments.

There are, of course, many specialised fields, such as SMSF professionals and you can move into one that holds your interest. Graduating with the right degree obviously helps and for a few years, you would work under the supervision of a seasoned advisor and this is where the real knowledge lies, there’s nothing like hands-on experience. If you are dedicated to working within the finance sector, you should go a long way.