Investment Advisors’ role encompasses a comprehensive vision on a variety of financial topics, including investment and guidance. They work with their clients to make investments and allocation decisions, providing unbiased and unrestricted advice with the aim of helping them reach their financial goals by building a financial plan.
Investment Advisors are normally hired within the financial industry, usually working in the following work settings: investment banks, investment trusts, stock trading, brokerage firms, insurance providers, non-banking financial companies, and private equity firms.
Here’s a non-exhaustive list of common tasks Investment Advisors are required to complete.
- Creating, developing, and fomenting a network of successful individuals with the goal of managing their wealth:
- Establishing business relationships with clients and prospecting, building, and retaining a client base;
- analyzing financial records and identifying customers’ needs to personalize the financial advising services offered;
- choosing suitable solutions to meet customers’ financial plans and goals with the aim of expanding their portfolio;
- developing investment and trading strategies while ensuring their clients’ best interests are being served;
- promoting financial products and services, as well as their purchase and sale, recommending the best-suited products to their customers;
- providing a professional level of financial based advisory and transactional services to customers, including cash and investments management, insurance coverage, as well as retirement and estate planning;
- reviewing and giving solutions to clients’ changing needs and financial circumstances.
- Following up on portfolios in order to ensure quality and profitability:
- Keeping track of the expansion of customers’ portfolios, actions executed, decisions made, and recommendations given;
- conducting risks analysis; and
- researching the marketplace and advising on new and existing products and services.
- Contributing to ongoing professional business development activities:
- Cooperating with the company’s endeavor of achieving gross revenue and net operating income objectives; and
- working in conjunction with colleagues to gather marketing information, statistics, and trends.
- Staying up-to-date on current investment products, markets, and legislations.
- Taking care of the financial planning and management of portfolios.
- Ensuring necessary due diligence to support the accuracy of all clients’ activities and maintaining high ethical standards.
- Monitoring the marketplace and industry trends, as well as their conditions.
- Designing financial strategies.
- Carrying out the purchase or sale of investment products.
- Researching, gathering and analyzing data to make effective and profitable decisions on behalf of customers.
- Communicating with other professionals, such as estate agents and solicitors.
- Providing education, counselling, and consultation related to investments and finances.
- Buying and selling financial products on behalf of their clients.
- Developing a customers’ database based on referrals.
- Contacting clients and setting up meetings.
- Keeping detailed computerized records.
- Preparing financial reports.
The average Investment Advisor salary is $72,906 per year or $37 per hour. This is around 2.2 times more than the Median wage of the country. Entry level positions start at $51,000 while most experienced workers make up to $102,000. These results are based on 48 salaries extracted from job descriptions.