Personal Financial Advisor Job Description

Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives to establish investment strategies.

Tasks Performed

  • Analyze financial information obtained from clients to determine strategies for meeting clients’ financial objectives.
  • Answer clients’ questions about the purposes and details of financial plans and strategies.
  • Authorize release of financial aid funds to students.
  • Build and maintain client bases, keeping current client plans up-to-date and recruiting new clients on an ongoing basis.
  • Collect information from students to determine their eligibility for specific financial aid programs.
  • Conduct seminars and workshops on financial planning topics such as retirement planning, estate planning, and the evaluation of severance packages.
  • Contact clients periodically to determine if there have been changes in their financial status.
  • Contact clients’ creditors to arrange for payment adjustments so that payments are feasible for clients and agreeable to creditors.
  • Determine amounts of aid to be granted to students, considering such factors as funds available, extent of demand, and financial needs.
  • Devise debt liquidation plans that include payoff priorities and timelines.
  • Explain and document for clients the types of services that are to be provided, and the responsibilities to be taken by the personal financial advisor.
  • Explain to individuals and groups the details of financial assistance available to college and university students, such as loans, grants, and scholarships.
  • Guide clients in the gathering of information such as bank account records, income tax returns, life and disability insurance records, pension plan information, and wills.
  • Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
  • Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, and other information needed to develop a financial plan.
  • Meet with clients’ other advisors, including attorneys, accountants, trust officers, and investment bankers, to fully understand clients’ financial goals and circumstances.
  • Monitor financial market trends to ensure that plans are effective, and to identify any necessary updates.
  • Open accounts for clients, and disburse funds from account to creditors as agents for clients.
  • Participate in the selection of candidates for specific financial aid awards.
  • Prepare and interpret for clients information such as investment performance reports, financial document summaries, and income projections.
  • Recommend strategies clients can use to achieve their financial goals and objectives, including specific recommendations in such areas as cash management, insurance coverage, and investment planning.
  • Research and investigate available investment opportunities to determine whether they fit into financial plans.
  • Review clients’ accounts and plans regularly to determine whether life changes, economic changes, or financial performance indicate a need for plan reassessment.
  • Sell financial products such as stocks, bonds, mutual funds, and insurance if licensed to do so.

Work Activities

  • account for or dispense funds
  • advise clients on financial matters
  • advise clients or customers
  • analyze applicant’s financial status
  • analyze financial data
  • approve or deny loans
  • compare clients’ applications with eligibility requirements
  • compile data for financial reports
  • compile information through interviews
  • complete information on loan forms
  • compute financial data
  • compute payment schedule
  • compute property equity
  • compute taxes
  • conduct financial investigations
  • determine program eligibility
  • explain what financial assistance is available
  • gather relevant financial data
  • interview customers
  • maintain cooperative relationships with clients
  • obtain financial information from individuals
  • obtain information from individuals
  • perform general financial analysis
  • prepare financial reports
  • prepare reports
  • provide customer service
  • review loan applications
  • select applicants meeting qualifications
  • use computers to enter, access and retrieve financial data
  • use interviewing procedures
  • use negotiation techniques

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