Financial specialists sell products and services for financial institutions. Financial specialists help their customers determine their short-term and long-term financial objectives. They provide their clients various financial instruments. They also offer insurance and provide investment services. Financial specialists typically have experience in banking or sales and hold a bachelor's degree. Some financial specialists work as insurance executives or in the accounting field.
- Obtain a thorough understanding of financial instruments and insurance
- Assess client's needs
- Explain the details of financial instruments and insurance to clients
- Evaluate the success level of the financial plan
- Assist clients with making changes to the financial plan
- Analyze financial data
Financial specialists need good marketing and sales skills. They also should have good communication and customer service skills. Financial advisors need good math skills and should be detail oriented. A financial advisor also needs a solid foundation with financial software programs.
Growth in the profession has been caused by the deregulation in the financial industry. Baby boomers looking for financial advice are also increasing the demand for financial specialists.
According to the Bureau of Labor Statistics the median annual wage for financial specialists in 2008 was $57,150.
Education, Certification, and Licensing
Typically, employers are seeking candidates that have a bachelor's degree in finance or marketing. Useful courses include economics, global finance and math. Usually on-the-job training is provided for the financial products and services that the company offers. Financial specialists are required to get special licenses to sell securities and insurance.
- Association of Insurance and Financial Specialists
- American Financial Services Association
- International Financial Services Association
The major employers are banks, insurance companies and credit unions.
Schools for Financial Specialists are listed in the Browse Schools Section.