Becoming a financial advisor can provide a great life and there are plenty of reasons why women should so - see below.
1#. Unlimited Income
Can you remember a time when you set a financial goal and failed to meet the objective?In the financial service industry, females can achieve and exceed financial goals if they are ambitious enough to do so.It is possible to determine your own income level and earn as much or as little as you desire, all dependent on your level of commitment to the job and overall work ethic.If you are an individual who looks to build a substantial and stable practice, the likelihood of acquiring significant assets under management (AUM) and high net worth (HNW) clientele increases.Taking this into account, it is possible to maximize one's income by cultivating a client list to incorporate fewer clients that are wealthier.
Financial Advisor Tasks
- Interview clients and gather information to determine strategies for financial investments.
- Prospect and maintain clientele.
- Recommend and sell financial plans and products that will help meet financial goals.
The average salary for a Financial Advisor is $57,059 per year. The skills that increase pay for this job the most are financial planning, Investment Management, Portfolio Management, Insurance, and Investment Planning. People in this job generally don't have more than 20 years' experience. Experience strongly influences income for this job.
#2. A Flexible Schedule
The traditional 9-5 workday is a thing of the past and financial advisors of the 21st century are those that create their own working schedules.Nowadays, the average financial advisor will typically work during market hours; however, they also have the opportunity to demarcate an exact schedule and indicate precise availability to their clientele.
In different professional roles, it can be challenging for females to balance an ideal social, home and work life without "burning out".This is particularly difficult if the individual has children or has to care for a sick parent or partner.A career within the financial industry, however, can be beneficial because it allows you to meet the needs of all these roles.When you are drawing your own working hours, it is possible to prioritize the schedule and work around different life responsibilities.
For example, if a child or parent falls ill, you will not be forced to choose between work or family.Furthermore, if you wish to spend more quality time with your partner or children, a flexible work schedule will allow you to make the necessary plans.You will be able to attend school events while addressing your client's financial requests.Of course, it is necessary to continue working hard and be available to the clientele to ensure career success; however, this does not mean you need to sacrifice your personal life.
#3. The Freedom To Choose Your Clients
One of the greatest benefits of working as a financial advisor is that you are able to work with your chosen clients. This means you do not need to work with people you feel uncomfortable around or who have different morals, values and personalities to you.If the client refuses to adhere to your financial advice, it is possible to refuse to work with the client if you are a freelance financial advisor.
One issue that many people feel concerned about is the chance of client shortage should they choose to avoid certain clientele; however, this should not be a concern.Unless you opt to hyper-specialize and work with clients in a particular field, such as clients presenting with over $1 million net worth, almost all individuals are potential clients.Millions of people seek financial advice on an annual basis in all financial areas ranging from life insurance and retirement income planning to long-term care investment strategies.These individuals need assistance from qualified professionals like financial advisors.
#4. Doing What You Enjoy
The financial services industry is a multi-faceted one offering a plethora of employment opportunities catering to people with different skills and interests.Perhaps you enjoy the facets of retirement plans or are interested in learning about the health insurance field?You may be interested in dealing with special needs families and helping them with insurance plans.A career in the financial sector helps females focus on what they enjoy doing instead of working for a paycheck. There are plenty of other positives as this post from Marks Sattin discusses.
#5. Seeing The
Positive Effect Of Your Work
There are few types of employment that allow people to directly see the positive impact made by their tasks - financial services are one of these few types of employment.When working in this industry you will be able to see how your advice can impact a client's life.Clients are able to achieve financial goals and you can feel a sense of satisfaction in helping these individuals assess their current situation, build a strong financial plan, and then put the financial plan into action.