Trainee Financial Advisor Jobs

By: EconomyWatch   Date: 1 October 2009

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To become a professional financial advisor, it is mandatory to obtain a four-year bachelor’s degree with finance as the specialization. During graduation, it is crucial for students to work as interns in financial firms that provide trainee programs. Usually, such firms offer trainee financial advisor jobs on a large scale throughout the year. Training gives practical experience to students as they work with real advisors. A state exam, after completing training, brightens the chances of getting a job.

Trainee Financial Advisor Jobs: What does a Financial Advisor do?

The job of a financial advisor involves assisting clients to meet their monetary goals. Financial advisors use vehicles, such as bonds, options, mutual funds, notes and stock, to grow their clients’ money. They plan savings, asset allocation, taxes and retirement accounts for their clients. They help them in creating a balance between investment income and capital gains. It is crucial for financial advisors to assess their clients’ financial details to chart out a structured plan. An average financial advisor earns somewhere between $50,000 and $120,000.

Trainee Financial Advisor Jobs: Training Period

Every trainee financial advisor is assigned a mentor, under whom s/he performs the following tasks during the training period:

  • Knowing Customers: The foremost task of a financial advisor is to know the customers and understand their needs. Before this, you may have to thoroughly study the customer creation process.
  • Fieldwork: Trainees usually work with field trainers and make calls to prospective customers. They may be given a daily target, for instance, 10 contacts a day. Trainees are required to arrange appointments with prospects. Calling gives trainees an in-depth understanding of the attitude of customers. Field training is crucial in developing selling skills.
  • Market Research: During this period, trainees prepare a list of prospects and pay them a visit. You will also have to create a market research plan to make the process easy. In market research, you will learn to identify sources of obtaining key referrals.

Additionally, trainees can develop their presentation skills. During training, the performance of every trainee is tracked and evaluated. Those who outperform have good chances of getting the letter of recommendation upon the completion of graduation.


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