Taking up the role of financial advisor is never a piece of cake. However, as a person learns and grow a lot in this field, the expertise and skills learnt by meeting new people are priceless.

Taking a decision regarding the profession to choose may always be the biggest and the most difficult decision because your entire future is dependent upon one single career path you plan to choose. The profession of financial advisors has been taking a boom because many people now look upon them to make financial decisions, it was thought that only businesses need the advices of financial advisors but now even individuals seek advices from them.

Who Is a Financial Advisor? (i)

Financial advisors are certified financial planners who have secured qualifications in the field of finance and they are able to suggest and help in decision making to numerous people when it comes to taking financial decisions. The financial advisors have a very huge scope; they have the ability to cater the individuals as well as the companies.

  • The individuals seek financial advising because may be they need some who may become their retirement planners, they wish to maximize their investments, they are seeking to invest in a new business before finalizing they might need a view of a financial expert and for this many people seek services from financial planners.
  • Similarly, for businesses that wish to expand in the near future may require a financial advisor to assist them and calculate the feasibility report of the new decision for their business.

Perks of Choosing Financial Advisor as a Profession (ii)

When a person opts for any profession it is very important to have an eye on the perks that will be coming their way and same applies for the role of financial advisors as well, there are a few benefits which may prove to offer a lot of ease to the people who wish to choose this as a career as few of which may include the following:

  • Financial advisors are a blessing for many people who are lost in the state of confusion, people have money, they have business and they have all the resources what they lack is the right path they must take to maximize their wealth. The role played by financial advisors in this regard is very important, it helps them to educate people about the possible opportunities available to them and they are able to create a relationship of trust with many such clients.
  • As much as this profession is rewarding in terms of trustworthiness on the part of client similarly in monetary terms as well this profession is highly rewarding. The world’s highest paid professions capture the sight of financial advisors too, this is not it in fact there are many bonuses and benefits lined up for the people who choose this particular career.
  • The level of flexibility in this profession is pretty high, you need not to worry about the rigid working hours, you can set your own schedule because most of the job is to meet clients and discuss the potential possibilities with them regarding their investments, so you don’t have to worry about working round the clock or having zero personal life.
  • Financial advisors are at a liberty to meet new people and learn new things, the scope of their service is very wide and where they meet the new business owners who are at young age, they also get a chance to meet the old age businessmen who have their own legacy to continue.

Downsides of Financial Advisor Career

Anything that has a positive side also has a negative side too and you need to keep a balance between both when choosing this career, awareness is always important and you must be aware of the downsides of choosing this profession as well.

  • No matter you must be making a lot of money with this career it would all be at the cost of the stress it is going to bring in your life. No matter how much of the expertise you exercise, you can’t control the booms and depressions of the economy, even a single negative event in the country causes the economy to fluctuate and at that point handling your clients could be very stressful.
  • In the initial days of your career you have to assist in a firm where you will be given a particular benchmark to reach in terms of convincing clients about your services because the revenue of that firm depends upon the number of clients you attract and meeting this benchmark might be a very difficult job.
  • The profession is risky because in case if you end up giving one wrong advice to your client you may end up facing legal implications too and nothing could be as terrible as this because it hinders your reputation as well.
  • License of financial advisory service is very important to be obtained if your wish to practice in the field and obtaining it has a very long process which takes a lot of time and has many formalities to be fulfilled, moreover a set number of years are required to be invested in attainting education in the field of financial advisory.
  • This field has a lot of learning because new things tend to evolve and in order to proceed in the field you have to constantly educate yourself and keep yourself up to date with the different financial matters and the economic turns which may be very tiring and in case if you miss any such update you may lose on your clients.

There are many positive and negative aspects of every profession and same goes for the profession of financial advisors as well however, if you have a will power and strength to manage all the hustle bustle ready to come across you in the pipeline then you must take a chance and enter in the field because you will have a massive opportunity to learn a lot of things and earn a high pay rate which might not be offered in any other profession.