Financial Specialists

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.

Responsibilities

  • 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

Job Characteristics

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.

Employment Outlook

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.

Resources

Major Employers

The major employers are banks, insurance companies and credit unions.

Schools for Financial Specialists are listed in the Browse Schools Section.

Financial Specialists Skills

Below are the skills needed to be financial specialists according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Skill NameImportanceCompetence
Critical Thinking4.124.12
Reading Comprehension44.12
Active Listening3.883.88
Mathematics3.884.12
Speaking3.753.75

Financial Specialists Abilities

Below are the abilities needed to be financial specialists according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Ability NameImportanceCompetence
Deductive Reasoning44.38
Near Vision44.12
Oral Comprehension44.38
Oral Expression44.38
Written Comprehension44.5

Financial Specialists Knowledge

Below are the knowledge areas needed to be financial specialists according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Knowledge AreaImportanceCompetence
Economics and Accounting4.695.83
English Language4.395.16
Mathematics4.315.73
Computers and Electronics3.964.73
Communications and Media3.452.99

Financial Specialists Work activities

Below are the work activities involved in being financial specialists according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 5 being highest).

   
Work ActivityImportanceCompetence
Interacting With Computers4.854.05
Getting Information4.585.88
Analyzing Data or Information4.575.86
Processing Information4.395.52
Identifying Objects, Actions, and Events4.215.43

Financial Specialists Work styles

Below are the work styles involved in being financial specialists according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest).

   
Work StyleImportance
Analytical Thinking4.99
Attention to Detail4.86
Adaptability/Flexibility4.75
Dependability4.65
Achievement/Effort4.63
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We have some additional detailed pages at the state level for Financial Specialists.

Numbers in parentheses are counts of relevant campus-based schools in the state; online schools may also be available.