Banks and financial institutions employ investment advisors to work with existing customers to update their portfolio as needs, economic climate, and and their financial situations change. The advisor also works to attract new clients and customers as well, marketing themselves and their financial institution’s investment services.
Investment advisors should fully understand the range of their company's investment strategies, vehicles, and financial products; they should also be able to determine which of these strategies would work best for variety of clients. The advisor listens to their clients, helps them understand market trends, and helps them invest money to get maximum return. This involves not only continuing education on investment and market opportunities, but also keeping track of how the client views their existing portfolios.
Many financial institutions expect an investment advisor to do some amount of active marketing of his or her services. This typically involves setting up investment seminars or luncheons, presenting prospective clients with an array of investment options and demonstrating ongoing successes of existing clients. Investment advisors typically work in an office environment during regular business hours, but they may schedule occasional investment seminars for marketing purposes during the evenings as well.
Many banks and institutions require financial advisors have at least a bachelor’s degree in business or a related field; many prefer an advanced degree such as a master's of business administration (MBA. Additionally, investment advisors must have up-to-date certifications as required by the federal and state regulations. Banks typically prefer to hire investment advisors with at least three to five years of experience in a related position.
Investment Advisor Tasks
- Follow-up with clients on plans, track successes, and inform about modifications.
- Assist clients with estate management, tax returns, budgets, or other financial tasks.
- Guide clients through financial self-analysis, including goal setting and advice to reach goals.