It is staggering how many people will switch career paths later in life, many do so because they want a new challenge, some, because they feel as though they made a mistake with their first choice and others, may do so because of external influences. I was chatting with my friend Patrick Dwyer financial advisor recently about the huge volume of ex-financial professionals who go into the field of financial advice. In fact, some of the biggest financial education schools in the world have remarked that around 75% of the people who decide to take a financial advice course are those who have already worked elsewhere in the finance industry. If you believe that it is time for you to start a different career, perhaps this could be a good choice for you and here are the skills that you are going to need.
Despite the apperception that financial advisors simply turn up and tell people what they should do with their money, financial advisors actually work extremely hard in order to best advise their clients. Because this field is so multi-faceted, an advisor could be offering advice on mortgages one day and oil futures the next, an advisor needs to pore through massive amounts of information in order to decide upon the best advice which they can give. Expect early mornings and late nights of processing information.
Advisors need toward with a broad range of people from different backgrounds and in different financial situations. With this in mind, it is highly important that they are able to speak on a level with every client that they come into contact with. There may be times that your client does not understand the advice that you are offering and you may have to be patient and listen as you try to teach someone something new. Advisors also need to sell their advice in order to get as much work as possible and this requires strong communication skills as well.
The advice that you give is highly important and will see people spending or investing money based on what you have said. Because of this, it is absolutely vital that you have the strength of your convictions and the confidence to really push an idea which you may have. This confidence will be part natural and in part because of the work that you have put in to put this particular piece of advice together. If you are not confident in terms of the advice that you give then you can not expect your clients to feel comfortable either.
To put in the hard work that is required to be a financial advisor and to speak with such a broad range of people offering your advice, you must care about what you do. If you do not have raw passion when it comes to this position then this perhaps is not the career for you.