Financial Consultant: Job Description, Salary and Career Path

Financial Consultant

Financial Consultants can work as self-employed professionals or within financial institutions. These professionals assist corporates in making optimal finance and investment decisions and developing a comprehensive business plan. Personal Financial Consultants help clients with the planning of financial decisions for important milestones such as retirement as well as day-to-day living according to the client’s current needs and financial aspirations.

 

On this page, Links Recruitment will walk you through the role of Financial Consultant. For employers who are looking to hire a Financial Consultant, this page can assist you in generating an application for hiring your next Financial Consultant and attract quality candidates. For job seekers, you will learn more about the role as well as possible career paths as a Financial Consultant.

What is Working as a Financial Consultant Like?

Whether a financial consultant is working in a consulting firm, financial institution or self-employed, the duties of a Financial Consultant revolve around advising on a client’s or company’s financial strategies and ultimately retain current assets and boost profitability.

The following activities and responsibilities are generally included in a Financial Consultant job description:

  • Assessing and analyzing the client’s financial situation and identify shortfalls
  • Assisting clients to establish investment objectives
  • Presenting clients financial plan with short- and/or long-term goals
  • Meeting with the client regularly to assess if recent life changes will affect the financial plan
  • Providing advice and recommendation on a variety of investment solutions
  • Providing quality pre- and post-sales services
  • Building a client base and identify prospective clients 
  • Cultivating relationships with existing and prospective clients
Job Duties

Working as a Financial Consultant is challenging, so you will need the right skills and experience to supplement this job position.

  • GCE ‘A’ Level certificate with three H2 passes and two H1 passes
  • At least 21 years old (regulatory requirement)
  • Obtain certifications as required by the hiring company and the Monetary Authority of  Singapore 
  • Have a customer-oriented mindset with great communication and interpersonal skills
  • Result-oriented and target driven
  • Prepared to work flexible hours including weekends or evenings
  • Good knowledge of wealth management and insurance products will be an advantage
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Those who want to pursue a career as a Financial Consultant are usually required to pass the Capital Markets and Financial Advisory Services Examination. Beforehand they should have obtained one of the following qualifications:

(i) GCE ‘A’ Level certificate with three H2 passes and two H1 passes; 

(ii) an International Baccalaureate (IB) qualification; 

(iii) a diploma awarded by a polytechnic in Singapore; or other equivalent academic qualifications.

Many companies continue to offer professional training or development programmes for working Financial Consultants to keep up with new products in the market and to maintain a high customer satisfaction level.

Remuneration for financial Consultants working in a financial institution are often bonuses, allowance, commission and sometimes education funds. Experienced Financial Consultants or those who later on pursue a higher degree such as a master’s degree in related field will have a better chance of moving into senior or managerial roles.

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No. of Year Experience Hong Kong Monthly Salary (HKD) Singapore Monthly Salary (SGD) China Monthly Salary (RMB)
1 – 4 / 3.5K – 4.3K /
5 – 9 / 4.3K – 6K /

 

Check out Links International’s salary guide for more information on salaries and trends in 2019.

Download the Salary Guide Now!

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Looking for a Financial Consultant Job?

As an award-winning recruitment agency with 20 years of recruitment experience across Asia regions, our specialist can offer professional career advice and consultation for you. Find financial consultant roles on Link’s job board today!