Financial Advisor – Salary, Jobs and Career
With adept knowledge and expertise in the financial industry, a financial advisor advises his clients on financial planning and protection, exploiting the opportunities presented by the market periodically. These roles fetch him a decent salary according to the industrial norms.
PHOTO BY FLICKR.COM/STORM-CRYPT/
Financial Advisor - Job Expectations
Financial advisors are not just stockbrokers or account executives anymore. With some training, professional certifications and experience, they can counsels individual clients on wealth management, and propose working capital management and business loans to business clients.The Financial Industry Regulatory Authority (FINRA) conducts several examinations for financial advisors
as multiple certifications may be required if they intend taking up additional but related activities. For most FINRA certifications, re-testing is done every few years to ensure that they have kept pace with the developments in the industry.Strong quantitative and analytical skills are essential to be a financial advisor. Academically, a bachelor’s degree with exposure to finance, accounting and economics is desirable. An MBA provides a distinct advantage but salary is strictly tied to performance and not qualifications, academic or professional.
Financial Advisor Salary - Great Remuneration
According to the Occupational Employment and Wages, May 2009 (National Estimates), released by the Bureau of Labor Statistics, the median hourly wage is USD 35.42 and the mean annual financial advisor salary
is USD 73,670. The top paying industries belong to the following categories, in that order:• Other Financial Investment Activities• Securities and Commodity Exchanges• Insurance and Employee Benefit Funds• Securities and Commodity Contracts Intermediation and Brokerage• Advertising, Public Relations and Related ServicesThe top 10% of the advisors earn more than USD 139,350 per annum. The annual mean wage in the “Other Financial Investment Activities” category is USD 111,490. By way of salary, they are paid a share of the revenue they generate for the firm. At times, the value of the clients’ assets on deposit with the firm may be considered while calculating the financial advisor salary.
Financial Advisor Jobs - Secure and Stable
In US, financial advisor jobs are found in the following categories.• Other Financial Investment Activities• Management of Companies and Enterprises• Securities and Commodity Contracts Intermediation and Brokerage• Depository Credit Intermediation• Insurance CarriersWith the finance industry moving at a fast pace, a qualified financial advisor is always on demand, provided he has the talent, analytical skills and PR skills to efficiently undertake the role. Even under market fluctuations and crisis, people seek professional help to secure their money and business, where a financial advisor job comes handy. The key to growing in the financial sector is building a good rapport with existing clients and getting referrals through them.Photo source: flickr.com/storm-crypt/