7 Tips To Be a Successful Financial Advisor in Town

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If you are passionate about investment, finance, stocks, mutual funds, etc., you can make your career as financial planning advisor.

What is financial planning?

Every investor would be willing to invest in good investment options and plan for their future. However, an individual may not be to research the investment options and get the best out of them.

The element of planning may be missing. He would depend on experts to make his investment decision. Here the role of a financial advisor would come into place

How do financial advisors help the investor?

A financial advisor would help the investor in putting his finances in place and advise him on good investment options and help him to achieve their financial goals in the pre-defined period within the available investment.

Is there any demand for such financial advisors?

With the growing population and increasing awareness about financial planning, there is a very good demand for financial advisors.

Tips to be become a financial advisor

1) Qualified financial advisors Vs General financial advisors:

In Asia, legally, there is no specific qualification to be possessed by a financial advisor. However, it would be good advice that an individual who is interested to make his career as a financial advisor goes through the financial planning certifications like certified financial planner (CFP). It would give more weightage to an individual by doing such certifications.

2) Understand various investment options:

You should be passionate about the capital markets, various investment options, and the latest tax laws to work as a financial advisor.

There are various investment options like Stocks, Mutual funds, PPF, Bank fixed deposits, company / corporate fixed deposits, and small saving schemes. You should be familiar with those terminologies and how they work.

3) Understand various risks:

If you know various investment options, it may not be sufficient. You should know various risks involved if one invests in such investment options.

You should study various trends for such investment options so that it gives an idea of how an investment option behaves in various economic conditions.

3) Start your website / own blog:

Once you are well versed with the terminologies, you can start your website or blog and advertise your financial advisor services. You can keep writing articles so that people can trust you and approach you for advice.

4) Use paid advertising:

You should advertise with pay-per-click advertisement programs (e.g. Google PPC) and spend some money to get new customers. You can do banner advertisements on various investment websites to attract customers.

5) Start with low service charges:

When you are initially starting financial advisory services, customers may not trust you. You can start attracting customers by offering low charges. Once your business grows, you can start increasing your fees.

6) Conduct contests/quizzes:

One of the important ways of promoting your business is to conduct contests and quizzes on your site to create awareness among customers. I have done this earlier and was successful in getting new customers.

7) Make a follow-up call with your members:

As a financial advisor, your role would not end up once you provide advisory services and collect your fees. You should enquire your customers about their financial planning and keep providing suggestions.

 

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