Investment Counselor Responsibilities

Most of the people are confused and have difficulty in managing their wealth. It is here that the investment counselor plays a vital role. The investment counselor responsibilities comprise helping the clients to take fair investment decisions based on their current economic condition so that the risks are maintained at a minimum acceptable level and that all the assets have been allocated properly. He/she may deal with a variety of investments like insurance products, bonds, stocks, mutual funds, etc.

Key Responsibilities of an Investment Counselor

The investment counselor is responsible for advising the clients to make wise investment after assessing their financial situation and suggesting them solutions that would ensure better returns and profits. He/she should be able to tap the potential clients and should be able to understand their requirements and execute them in a professional manner. He/she should handle all the inquiries of the clients and respond promptly by ensuring compliance with all the regulatory policies and procedures. He/she may suggest the clients with various investment options that would help in reaching their financial goals and objectives. Some of the primary responsibilities that need to be handled by this professional are as follows:

  1. To determine the needs of the clients and to assign specific tailor made investment plans that would suit their current financial conditions and make sure that the market transactions have been executed in an appropriate timely manner
  2. To constantly monitor and track the changes in the financial conditions of the client and based on reassessment suggest more effective investment solutions
  3. To address all the queries of the clients and ensure that they have been answered properly and that it satisfies the clients completely
  4. To recommend change in strategies so that the financial goals of the customers can be achieved
  5. To keep an eye on the changing market trends and to review and research for new investment options that would fit with the clients' requirements
  6. To discuss, gather and compile all the information from the client like their income, insurance coverage, current status of the taxes, their expenses, risk tolerance levels, etc., and guide them in gathering all the related records

In addition to the above primary responsibilities, this professional also needs to carry out some secondary duties. He/she makes sure that all the relevant records and information have been maintained and that the performance of investments has been recorded. He/she maintains good relationship with the existing clients and ensures that he/she is able to get in new prospective clients and sell them the relevant financial products of the organization. He/she devises liquidation plans, conducts workshops related to financial planning and interacts with the clients' other advisors like investment bankers, attorneys, accountants, etc., to determine the exact financial goals of the clients. Thus, he/she constructs and oversees investment portfolios and assists in giving advice as well as guides on actionable investment ideas depending on the current market scenario.

Essential Skills and Abilities

To be a successful investment advisor, an individual must possess exceptional written and verbal communication skills combined with good presentation skills. He/she should be extremely organized with good planning skills and should be flexible and pragmatic. He/she should have good entrepreneurial skills and should be able to identify and bring in potential clients. Individuals in this position should be able to work in a team environment and have good understanding of aligning the organization's products and services in the right way.

Educational Background

The prospective candidate should have completed a four year college degree or any other equivalent combination or training in the relevant area. The individuals with Series 7 and 63 certification would definitely be preferred. A master's degree in business administration or CFA would surely have an edge over the less qualified candidates. Those with previous work experience in a similar role would get an advantage.

Work Schedule

The work schedule normally requires the individual to work for at least forty hours per week, Monday to Friday. He/she may need to extend beyond business hours on a few occasions.

Salary Details

The lowest salary offered for an investment counselor is $37,000, whereas the maximum salary earned by an experienced individual generally goes up to $144,000. In addition to this salary, he/she may get an additional income in the form of bonus, commission, or he/she may either share the profits.

Career Prospects

If the responsibilities are handled well, there is no looking back for the successful candidate, and he/she can be easily promoted as a branch manager or a regional/divisional director.

Thus, you can really look forward to lucrative career ahead if you are able to shoulder the investment counselor responsibilities well.

Contact Us : Privacy Policy