Financial advisers provide clients with advice on financial matters, making recommendations on ways to best use their money. Their job is to research the market place and or advising clients on products or services available. Financial advisers may also be known as financial planners or wealth managers.
Although this area of work is open to graduates and diplomates of any discipline but you can have a higher chance if you do financial studies, business management and accountancy. Some retail banks offer graduate training schemes, whereas private banks often recruit graduates direct into the business.
Salary and Condidtions
Typical annual salaries at trainee adviser level range from £20,000 to £30,000.Qualified financial advisers can earn between £30,000 and £45,000.Senior financial advisers can earn about £60,000.Wealth managers who are based in the wealth division of major retail and private banks can earn in excess of £100,000.
There are two types of advisers independent and restricted advisers. Independent advisers, also called independent financial advisers (IFAs), research and consider all retail investment products or providers available to meet the client's needs. They must provide clients with unbiased and unrestricted advice. Restricted advisers only offer restricted advice, focusing on a limited range of products or on products from one or a limited number of providers.Here are some activities contacting clients and setting up meetings, researching the marketplace and providing clients with information, designing financial strategies and producing financial reports.