How to Become a Financial Adviser
Skills and role of a Financial adviser
A financial adviser must use their skills and expertise to establish client affordability, suitability and risk profile based on the information provided by the client. An adviser will offer holistic advice providing solutions to help clients achieve their objectives based on their needs and circumstances that may change as their clients move through the different life stages. A Financial adviser will recommend the most appropriate advice and products from protection, through to investments and retirement solutions as well as estate planning. Advisers can also choose to concentrate on wealth management and estate planning, enabling them to manage their clients portfolios on an ongoing basis. Advisers can work as either an employed adviser and get paid a salary or as self-employed where they can charge a fee paid by the customer.
- Meeting with clients to discuss their current circumstances to establish affordability, suitability and their attitude to risk.
- Select the most appropriate solutions and products from the vast range available to fulfil the clients needs and help them to achieve their objectives.
- Explain complex financial information simplistically to clients.
- Explain the features, benefits and risks of the products recommended.
- Excellent communication skills, both verbal and written.
- Numerate and articulate.
- Have a lateral mind to combine solutions.
- Honest, trustworthy and ethical.
- Sociable and friendly.
- Hardworking and diligent in order to keep their knowledge up to date.
- Organised – Advisers must be organised in order to maintain adequate records in order to remain FCA compliant.
The Diploma for Financial Advisers (DipFA®) is a professional qualification for any candidate who wants to work as a Financial adviser. UK financial services are regulated by the Financial Conduct Authority (FCA). DipFA® is a London Institute of Banking and Finance RQF Level 4 qualification and is recognised by the Financial Skills Partnership.