A career as a financial advisor is not one that should be taken lightly. Those aspiring to become financial advisors endure years of specialized schooling, and are required to get above a 60% on an exam to become a certified financial planner. Once this is accomplished, they continue schooling and take courses to receive specific certifications. Financial advising isn’t a one size fits all job, but rather each case taken needs special attention and different service based on that individual’s needs.
Financial advising is a high stakes and high pressure job. Financial advisors are responsible for their clients’ stocks, bonds, investments, real estate, and often much more. They are tasked with juggling all of these finances while making good investments based on their clients’ situations and expectations. It’s very much out of their hands, as the stock market is a fickle friend.
Financial advisors also advise their clients about how to get the most of their tax returns, help them save money, plan their retirement, take care of their estate, and even start college funds. So you see, being a financial advisor is no easy feat.
This is why financial advisors need all of the assistance they can get through tools and tips of the trade.
Financial advisors need to keep up with the changing technologies and advances, and any good advisor utilizes CRM. If this is the first you’re hearing this acronym, CRM stands for Customer Relationship Management, and in short, is a way for an advisor to compile all of their clients’ information and use that information to predict investments, create financial plans, and overall build a better and streamlined working relationship.
CRM also give advisors access to certain tools they need when dealing with clients, and these tools can even be utilized on a mobile device.
No matter how skilled a financial advisor is, they need support to back them up. A broker-dealer is a partner that a financial advisor should have. There are a few companies in Boca Raton that offer the services of a broker-dealer, including Wells Fargo and Merrill Lynch. Broker-dealers can provide in depth insight on life insurance plans, health benefits, pensions, and more.
There are some programs that financial advisors swear by, including CRM. Other programs like Fidelity Advisor Channel helps advisors monitor their clients’ accounts and make trades. GoToMyPC helps advisors access their files when they are away from their computers.
Utilizing all of these tools will help you to become more than a good financial advisor, but rather a standout in the field and one who is sought after.