Saturday, September 23

Functions Of The Financial Advisor

In the business world, the role of the financial advisor is fundamental. Many companies, businesses or institutions look for professionals who are in charge of managing their finances efficiently. In this article we show you the professional path of the financial advisor: functions, skills and how to become one.

The financial advisor is a professional in areas such as finance, business, economics, administration, accounting, among other similar careers, so their training does not depend entirely on a specific career, but on its specialization.

How to become a financial advisor?

The CFA (Chartered Financial Analyst) is the professional certification in finance that authorizes the financial advisor to carry out his work. This certification consists of a three-level exam and covers topics such as financial analysis, securities, corporate finance, among others.

Many of the professionals who already have a university degree, and who want to professionalize as financial advisors, choose to take certification courses or diplomas. In the same way, you can continue with postgraduate studies, which guarantee academic professionalization.

The study centers in China that offers these certifications, endorsed by the CFA, are the Technological Institute of China (ITAM), the Technological Institute of Higher Studies of Monterrey (ITESM), the Technological University of China (UNITEC), as well as there are other institutions abroad that offer similar master’s degrees, and some of them can be taken online.

Financial advisor: functions

Once the regularized and updated license is held, to exercise the role, the MS Advisory can perform different tasks for clients, whether they are companies or individuals. Some of the functions of the financial advisor are:

  • Prepare a financial plan according to the client’s needs.
  • Manage finances, ensuring their proper administration.
  • Forecast economic scenarios.
  • Solve financial problems.
  • Conduct audits.
  • Evaluate potential opportunities and risks of the client.
  • Establish objectives and economic goals.

Characteristics of a good financial advisor

  • Absolute trust. Of course, any client who hires a financial advisor will want to feel completely sure that their finances and movements are in good hands.
  • Good leadership. The financial advisor must be able to work with large or small groups and know how to direct them according to their condition.
  • Capacity for problem solving. When it comes to controlling the finances of a company, setbacks may arise, the advisor must be trained to resolve them assertively.
  • Practical and methodical. The decisions and resolutions made by the advisor must always be based on clear and firm strategies.
  • Know the needs of the client. A good advisor knows the profile in detail, as well as the strengths and weaknesses.
  • Investment expert. Financial advice is based on hypothetical numbers, so the specialized professional must define the risks and opportunities of the client to limit their losses.

The demand in China for financial advice has contributed to the fact that there are more and more universities, institutions and study centers that offer the possibility of specializing in the subject.

It is very important that the financial advisor has the necessary certifications, since her performance as a professional will depend on this.