Career Paths For Financial Advisors
Most people think that the financial advisor will only get jobs from a person that needs some advice about how to manage personal finances or from a company that needs some advice. Both of these are options but the truth is there are many different career paths that the financial advisor can follow. If you want to go towards management, you usually get to start as branch manager or branch sales manager.
In order to advance their careers, most financial advisors are going to have to take on some sort of management position, usually in a branch of a larger company. Based on office size and firm policies, a business book can be retained or not.
If the branch office is larger, the branch manager and the sales manager positions are going to be more demanding. The idea is usually to move on from a smaller job with fewer responsibilities to one that features more responsibility. You basically get to keep on going as an advisor but you take the skills to the new level through management.
What is interesting is that both the branch manager and sales manager positions can be seen as stepping stones in one’s career. Eventually, these positions can lead to management positions at a national or regional level. At the same time, the stepping stone can be towards other general management positions like product management or marketing.
The Specialist Career Path
The financial advisor that managed to develop a really strong expertise in a specific client service or investing service will be able to become a specialist at national or regional levels in firms. In different situations the first job of this kind is going to be part time but the possibility of full time employment does exist.
Careers In Money Management
Experienced financial advisors are a natural fit for money management jobs. When investing skills are proven to be really strong, candidates can easily make the transition towards money managers in practically all industries.
There are various firms in which the financial advisor ends up with the same exact job title but client interaction eventually ends up being eliminated or drastically reduced. The job turns towards managing the accounts of the clients based on other advisors that are hired.
At first glance the career path of the financial advisor is really limited with not many opportunities being available. However, what should be mentioned is that the financial advisor can actually easily move on towards management positions that move way beyond finances.