What Does a Financial Consultant Do?
Financial Consultants work in either an office setting or as an independent contractor providing financial advice to business professionals to help ensure the organization stays financially healthy and meets all their budgetary goals. They may also work for individuals to help them make logical personal investments. Financial Consultants regularly assess an individual’s life changes and adjust their financial strategy accordingly to help them remain in good financial standing.
Financial Consultant Skills and Qualifications
A successful Financial Consultant candidate will have the skills and qualifications needed to perform this wide range of duties and responsibilities. Employers want to see a combination of soft skills and technical skills in a Financial Consultant. Though these will vary with the company, some of the most common ones include:
- Excellent interpersonal skills with an emphasis on actively listening to and understanding clients’ needs
- Strong knowledge of a range of financial products, including insurance, pensions, savings, stocks etc.
- Good understanding of relevant regulatory policies that govern the financial sector
- Able to create financial projections and explain complex financial information clearly
Financial Consultant Salary Expectations
The average annual salary of a Financial Consultant is $87,824 per year. Individual salaries may vary from this average depending on the size and financial services offered by the employer, the geographical area and the experience of the Financial Consultant.
Financial Consultant Education and Training Requirements
Financial Consultants typically need at least a bachelor’s degree to find employment. Most companies look for candidates with a degree in a relevant major, such as business, finance or economics. Many Financial Consultants further their education by earning graduate degrees in financial planning, business administration and other related areas. Some investment companies and jurisdictions require that Financial Consultant candidates have achieved a Certified Financial Planner (CFP) certification.
Financial Consultant Experience Requirements
Many companies only hire Financial Consultants after they have completed at least an internship at a financial institution that provides financial consulting or advisory services. For entry-level roles, candidates might get hired without any experience, but employers will give priority to people who have relevant work experience. Some companies also require that Financial Consultants successfully complete a company training program before they become full-time employees or work without supervision.
Job Description Samples for Similar Positions
If the job description for a Financial Consultant doesn’t quite match what you need, here are a few others for similar positions: