Financial Advisor Job Description: Top Duties and Requirements

A Financial Advisor, or Financial Planner, is someone who helps an individual budget, build, and control their money. Their duties include building a client base, maintaining relationships with clients, and monitoring the overall portfolio of a client to ensure their money is growing.

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Financial Advisor duties and responsibilities

When writing a job description for a Financial Advisor, it is important to specify the main functions of the role. Some important duties and responsibilities may include:

  • Engaging with new and existing clients on a daily basis to better understand their short- and long-term financial goals
  • Monitoring client portfolios to ensure these meet their progress and target requirements
  • Providing tax, income, and estate guidance for clients while being able to answer questions
  • Regularly attending training sessions to stay up-to-date with regulatory or industry changes
  • Assisting with marketing and communications to help grow their customer base
  • Proactively resolving or preventing banking or portfolio problems 
  • Educating clients to ensure they understand how their money is being managed
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Financial Advisor Job Description Examples:

 

Example 1

*General Description* The Financial Advisor/Accounting Clerk is responsible for student financial interviews, financial options counseling, intake processing and customer service. The Financial Advisor/Accounting Clerk performs needs analysis, provides financing documents, and generates tentative award letters for all new students enrolling in the institution’s programs. He/she processes all forms in accordance with Provincial and Federal regulations and internal policies and procedures. This position serves as a liaison between Admissions and the Campus Director. *Responsibilites* *Financial Advisor* Ÿ Providing students with accurate information regarding the application process, loan counseling and their eligibility for financial assistance, alternative financing, appears contracts and /or institutional payment plans. Ÿ Providing services to students of their financial obligation, the institution’s financial options, and financial policies and procedures as related to their educational expenses. Ÿ Assisting students in determining government loan eligibility for students requesting financial assistance. Ÿ Assisting students in student loan applications and all student loan documentation process. Ÿ Maintaining campus book order/instructor resources and inventory. Ÿ Perform Electronic Confirmation of Enrolment (ECE) to student loan funded students. Ÿ Managing outside industry exam registration for students Ÿ Responsible for monitoring student financial obligation, payment collect and refund. Ÿ Handling staff petty cash fund; process staff reimbursement. Ÿ Handling agent's commission request. Ÿ Covering front desk if needed Ÿ Performing other duties and responsibilities position relevant as assigned. *Accounting Clerk* *General accounts receivable functions: * · Post student invoices · Post and confirm student deposits with Morris payment methods · Post credit memo for refund transactions · Post Morris payout report (Petty cash report) · Post Morris cash sales receipts and payout report (Petty cash) into QuickBooks · Perform all bank account and credit card reconciliations *General accounts payable functions: * · Check, verify and process invoices · Prepare payments for signature · Sort, code and enter accounts payable data · Analyze discrepancies and unpaid invoices · Maintain vendor files *General support functions: * · Update, verify and maintain accounting journals and ledgers and other financial records · Assist in month end reporting procedures · Find and use accounting data to resolve accounting problems and discrepancies · Track and audit petty cash account · Assist with employee expense reports · Perform filing and general administrative tasks · Liaise with other · Assist in professional accountant for the Year –End audit · Other duties as assigned by the Director or Finance Manager · Post refund, referral and agent commission cheque into DB · Verify and correct student’s payment in the DB *_Education and Experience: _* · Certificate, diploma or degree in a related field and minimum 1 year of experience in customer service, sales or financial service environment or an equivalent combination of education and experience. · Familiarity with student loan program preferred. Contract length: 12 months Application deadline: [phone number]12-10 Job Types: Full-time, Contract Salary: per year Benefits: * Dental care * Extended health care * RRSP match * Vision care Schedule: * Monday to Friday Experience: * advising: 1 year (preferred) * bookkeeping: 1 year (preferred) Work remotely: * No

Example 2

*Company description* Hodgkinson & Associates Ontario Inc - The Cooperators *Job description* As the Financial Services Specialist you will focus on developing and deepening client relationships by providing high quality sales in life and group insurance and financial services advice. You will be responsible to adhere to regulatory requirements and compliant sales practices and will drive sales growth in investments and life insurance through outbound prospecting and new client acquisitions. *What you’re responsible for: * · Contributing to the development and sustainable growth of life and group insurance portfolios and the agency’s investment assets and providing client-centric investment services, including segregated funds and mutual funds solutions. · Engaging with prospects to proactively build a sales pipeline and developing marketing plans to promote life and group offerings and value-added advice-based financial services. · Conducting needs analyses, reviewing client financial goals, providing education and recommendations in alignment with Know Your Client requirements, selling new policies and opening new accounts and documenting recommendations or changes. · Conducting regular reviews of client insurance and investment plans and identifying additional asset gathering opportunities. · Participating in events to create brand awareness and developing, maintaining, and cultivating community contacts to enhance agency visibility and maximize new business opportunities. *To be successful: * · You remain focused and optimistic in the pursuit of a goal, despite barriers, until the objective is achieved and allocate time and resources to effectively manage the sales portfolio. · You successfully build plans focused on expanding market penetration and apply an innovative mindset to improve operational efficiencies, with a client centric lens.   · You have strong communication skills to influence or persuade others to adopt a specific course of action and can effectively facilitate mutually beneficial solutions.  *To join our team: * · You have three years of experience in the financial services industry, including experience in investment and life product sales. · You have a post-secondary education in a related discipline. · You hold a Life License and Mutual Funds License. · You have or are working towards a Financial Planning designation, such as the Certified Financial Planner (CFP), Chartered Life Underwriter (CLU) or Professional Financial Advisor (PFA) designation(s). *What to expect: * · You are required to have your own vehicle, valid driver’s license, and insurance. · You will travel regularly. · Extended work hours, including evenings and weekends will be required. · Strict confidentiality with respect to client’s medical history, financial status and other personal information.  · You will be subject to a Criminal Record and Consumer History background check as a condition of employment, in the event you are the successful candidate. Reference ID: AFA-[phone deadline: [phone number]12-20 Expected start date: [phone number]01-17 Job Types: Full-time, Permanent Salary: Up to $80,000.00 per year Benefits: * Dental care * Disability insurance * Extended health care * Life insurance Schedule: * 8 hour shift * Monday to Friday * Overtime * Life Insurance License (preferred) * General Insurance License (required) * MFDA (preferred) Work remotely: * No

What does a Financial Advisor do?

A Financial Advisor uses their expertise to help build a personal financial plan for their clients. Maintaining relationships with clients is important because a Financial Advisor meets with clients on a regular basis to ensure their portfolio is meeting financial goals. The Financial Advisor is also able to adjust portfolios as goals and needs of their clients change, such as with the birth of a child or a marriage. Some of the duties performed by a Financial Advisor may include budgeting, creating tax strategies, or helping to purchase insurance products.

Financial Advisor skills and qualifications

A successful Financial Advisor candidate possesses various prerequisite skills and qualifications for the duties of this job, including:

  • Excellent communications skills, both written and verbal
  • Excellent digital literacy skills
  • Ability to build trust and maintain strong relationships with clients
  • Ability to work as an individual contributor and as part of the team
  • Outstanding problem-solving and analytical skills
  • Proficiency in math and financial literacy
  • Excellent time-management and planning skills

Financial Advisor experience requirements

When reviewing resumes for a Financial Advisor candidate, you should typically look for someone with at least two to three years of experience in the role. However, if on-the-job training is to be provided, prior experience may not be required. Ideal candidates will be familiar with accounting and bookkeeping software.

Financial Advisor education and training requirements

Ideal Financial Advisor candidates may have a bachelor’s degree from an accredited university. Look for an applicant who has obtained a degree in accounting, finance, business, or a related discipline. Additionally, the applicant should have obtained certification as a Certified Financial Planner in Canada. If the applicant does not have CFP (Certified Financial Planner) certification, they are expected to be working towards achieving it.

Financial Advisor salary expectations

According to Indeed Salaries, the average salary for a Financial Advisor in Canada is $58,052 per year. The actual salary can vary depending on many factors including experience, location, or type of company. 

Job description samples for similar positions

If a Financial Advisor isn’t quite what you are looking for, other related job descriptions include:

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Financial Advisor job description FAQs

What should you look for in a Financial Advisor resume?

When reviewing job applicants for the position of Financial Advisor, look for an individual who has experience working in the financial industry. It may also be beneficial to look for someone that has an existing client network and is a participant in various associations, hobby groups, sports teams, or charitable activities, as this shows strong teamwork and interpersonal skills. A good Financial Advisor may also have a Canadian Securities Course designation or will be working towards one. 

What qualities make a good Financial Advisor?

Attention to detail is an important skill for any Financial Advisor to have, as they deal very regularly with numbers. It is also important for a good Financial Advisor to be personable and able to build connections quickly. Many successful Financial Advisors are also very involved in their community. Candidates should also be organized and able to oversee multiple portfolios at a time while keeping the financial needs of their clients top of mind. 

What makes a good Financial Advisor job description?

A good job description for a Financial Advisor should include information about the company and the types of portfolios the applicant will be overseeing. If your company will help the Financial Advisor build their customer base, be sure to include that. Additionally, it is beneficial to include the expected compensation for the role. A good job description will also mention if any training or additional education will be provided for a successful applicant. If your company offers benefits, such as pension matching schemes, be sure to include this information.

Job Description Examples

Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

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