Have you ever wondered what a Financial Advisor does? It is one of the most requested positions by companies that handle large amounts of money but, curiously, there is no specific career to prepare you.
The financial advisor is a professional who is prepared not only in the area of economics and finance, but also knows how to establish a relationship of trust with his clients, since he identifies their needs and honestly guides them so that they acquire one of his products or services.
Technically, according to the regulations of the National Commission of the Retirement Savings System (CONSAR), the person who wants to be a Financial Advisor must be a high school graduate or equivalent, in addition to having the appropriate training that is represented by a certification issued by a decentralized and independent body.
In case you go with the slope, the certification lasts three years and is obtained with an exam.
What do I have to study to be a professional Financial Advisor?
Despite the fact that, according to the CONSAR. Only the complete high school is need, several experts in the field insist that a train orient to customer service is ideal to a professional Financial Advisor. So instead of telling you to study a degree in Economics, Finance, Administration or Business Management, we will give you some basic guidelines so that you decide to dedicate yourself to the fluctuation of money.
Remember that the Financial Advisor is not an ordinary salesperson but a professional who knows about:
- Market analysis.
- Interest and return on investments.
- Savings accounts.
- Credit cards.
In addition to that he is also someone who has a great ability with words. Presence with people, high tolerance for frustration. Extremely organize and focused on different types of goals. Therefore, knowledge of assertive communication, psychology and even oratory can also be useful when it comes to becoming a professional financial advisor.
What are the functions perform by a professional Financial Advisor?
If you have already bite by the curiosity bug, financial advisors perform different functions for the companies they work for, they are in charge of:
- Develop the Financial Plan.
- Analyze and assess the information received.
- Collect all relevant customer information.
- Check that the objectives set are achieve.
- Inform the client about the appropriate financial products for their needs.
What should you do to prepare yourself in the financial world?
Although it sounds a bit obvious, it is necessary to soak up the language that finances require. Not everyone understands the importance of interest rates to obtain. A material good or the ways in which the various investment funds that exist in Mexico are manage. As well as explaining it to the people who are looking for the specific product for their activities.
As well as being aware of the constant updates of the economic world. And even training at a professional level in the institution of your choice. Especially if you want to be an expert in investments and in obtaining financing for individuals and companies.
There is no doubt that the opinions issued by a financial advisor are likely to generate. Lead him to conclude a transaction or business as a result of which he experiences damage or harm. Which can sometimes be very relevant. The fundamental thing, then, is to determine. Under what assumptions an obligation to indemnify that can be claim from the advisor will arise.
For these purposes, a substantial element is the conduct of the financial adviser, which must meet at least a double character. On the one hand, it is a behavior that, in itself and according to the circumstances of the case, has the aptitude or capacity to cause reasonable, justified and legitimate trust in the recipient of its report or recommendation.
The receiver, therefore, must be a person with respect to whom the advisor should have observed a duty of care, given the nature of his report and other concomitant circumstances.
In this regard, some of the criteria contained in the ‘Restatement (Second) of the law’ of the United States may be illustrative, according to which the recipient: (i) must be part of the group of people to whom intended the information and (ii) that their reliance on the information is justified or reasonable, considering their own professional qualifications, knowledge, and possibilities of verifying or confronting its veracity or accuracy.