3. The administrative tasks

Over the last blog entries, we have seen the glamorous side of the financial advisor job. This is what makes this job desired by so many students. However, of course, the typical day of a financial advisor includes other elements which tend to be much more boring and tedious, including administrative tasks. The third and last aspect that we will review on this blog is definitely not the sexiest part of the job but this is something that still needs to be done: the administrative tasks. When we say administrative tasks, these include writing or revising blog posts (this takes a long time, and it is not rare to hear of financial advisors who spend up to ten hours a week blogging in order to find new clients) or website content (once again this is not something that can be done quickly), preparing for meetings with existing clients but also with potential prospective clients and, let's not forget, the supply of coffee if the financial advisor does not have the chance to have an assistant. The financial advisor who performs all these tasks makes sure that he or she offers a value-added service to his her clients and that he adequately meets their financial needs in both the short and long term.

2. Finding new customers

In our quest to understand the ins and out of the financial advisor job, we are going to focus today on another aspect of the job. In fact, in our previous blog entry, we saw that taking care of the existing customers or clients was really important (if not the most) aspect of the financial advisor job. A financial advisor who would be doing this aspect very effectively might not even have to do anything else. Why? Simply because a happy customer is a customer that will recommend the advisor to his her friends, colleagues, and family members. In any case, another aspect of the job is finding new customers. 2. Finding new customers. Finding new customers is an important part of the job of a financial advisor. This is also one of the most difficult parts. No one teaches you how to find new customers. It usually works mainly by communicating extensively with current customers. It also heavily depends on the quality of the services provided. If a financial advisor has a high number of satisfied customers, he or she might not need to do anything else in order to attract new clients. Referrals from existing customers are the best way to expand a portfolio of clients. Sometimes, a financial advisor will invite some of his her clients to dinner in order to have a better chance to communicate efficiently. Finding new customers is an important aspect of the job of a financial advisor but there are also still other aspects that need to be reviewed. The third and last aspect that we will review on this blog is definitely not the sexiest part of the job but this is something that still needs to be done: the administrative tasks.

1. Taking care of existing customers

On this blog, we are trying to understand the ins and out of the financial advisor job in order to fully understand the job and be in a better position as a potential client to identify the best financial advisor depending on your personal situation. There is no such thing as one best financial advisor for everyone. Indeed, a financial advisor can be the best one for your friend or colleague but this same advisor would not be a perfect fit for you. Over the next blog entries, we are going to try to understand what a typical day of a financial advisor is. Like any profession, a financial advisor must be able to juggle diverse undertakings and duties every day. As soon as the working day starts, the financial advisor might be required to: 1. Taking care of existing customers There are different ways of taking care of existing customers or clients. Of course, one of the first thing to take care is to respond to emails and returning phone calls. The objectives are to listen to the customer, giving him or her an accurate picture of his/her current financial situation but it could also be to talk with him/her about changes in his/her way of life. That could be a divorce or the death of a close family member. A change could also be related to sudden unemployment. The goal hence would be to fully understand the consequences of the change and take actions to make sure that the change does not alter his or her finances. Talking to the existing customers about their investments and providing updates on the latest financial development in the markets is one of the main activities of a financial advisor. Taking care of existing customers is an important aspect of the job of a financial advisor but there are other aspects too like notably finding new customers.