Financial consultants help their clients make money decisions by offering advice on investments, insurance and retirement planning. They also research financial markets and economic conditions to provide their clients with current information.
They work for firms or as self-employed contractors and may have clients both corporate and individual. They often travel to clients’ homes or offices to discuss their needs.
Generally, a bachelor’s degree in finance, economics, business or other related fields is required to become a financial consultant. Those who want to advance in the field may consider earning a master’s degree or becoming certified through professional organizations, such as the Certified Financial Planner (CFP).
A certification like the CFP is a good way to signal clients and employers that you have the necessary education and experience to be a successful financial advisor. Other industry-specific certifications, such as the ChFC(r) designation, can also provide added value to your resume.
Financial consultants typically spend a great deal of time traveling to their clients’ homes or offices to build effective financial strategies that help them meet their short-term and long-term goals. Some work independently while others specialize in a specific type of company or organization, such as insurance companies or nonprofits.
Typical duties include identifying well-suited investments, guiding insurance decisions and even directing the purchase and sale of stocks and bonds on their clients’ behalf. Those interested in a career that combines personal service with the latest technological advances should be on the lookout for a company that offers an array of benefits such as health insurance, paid time off and retirement plans. A savvy employer will offer a competitive salary and perks like flexible work hours and the opportunity to travel.
A dazzling number of high school and college graduates are in the hunt for the top financial consulting gig, a plethora of online employment portals, and a booming job market with a shortage of qualified applicants. Using a combination of social media and traditional recruiting methods, employers can source the right candidates to fill the requisite number of roles.
While many financial consultants work in an office setting, a few are fortunate enough to travel to their clients’ locations. The most important function of the traveling consultant is to provide personalized financial advice and solutions. The most rewarding part of this job is building relationships with individuals or businesses who rely on your expertise and guidance to build and manage their wealth.
Financial consultants often work long hours, particularly in consulting firms. They often travel to client sites and need to spend long periods of time away from home.
Consultants often have their meals, flights and hotels covered by the firm. They also often earn loyalty reward points and status with airlines and hotels.
A lot of financial consultants will spend a couple days out of the office on business each week. This can make for a busy and stressful week.
If your priorities are a more balanced lifestyle, you’ll want to find a firm that offers reasonable working hours and little travel. Among the largest consulting firms, only about 60 percent of employees report no travel at all and only a few report traveling one day a week.