Kelston Boys’ High School
Financial Adviser Kaiwhakatakoto Kaupapa Pūtea
Financial advisers give advice about financial planning, investing, insurance and other financial services.
All financial advisers must be registered on the Financial Service Providers Register.
Financial advisers may do some or all of the following:
- identify clients' short, medium and long-term financial goals
- prepare suitable financial or investment plans
- encourage clients to keep to their plans
- review clients' taxation, retirement planning and sources of income
- review clients' estate planning and insurance needs
- report on clients' investments every three to six months.
Useful Experience
Useful experience for financial advisers includes:
- banking or customer service
- accounting or auditing
- management.
Personal Qualities
Financial advisers need to be:
- honest and trustworthy
- able to keep information confidential
- able to use good judgement
- good at communicating and listening
- skilled at planning
- good at sales
- strong problem solvers.
Skills
Financial advisers need to have:
- the ability to understand and interpret financial and investment markets
- knowledge of financial planning, taxation, investments, mortgages and insurance
- the ability to research market and financial information.
Conditions
Financial advisers:
- usually work regular business hours, but may work weekends or evenings to meet deadlines
- work in offices, but may travel to visit clients.
Subject Recommendations
You usually need NCEA Level 3 to do the study or training for this job. Useful subjects include English, business studies, maths, economics and accounting.
Related Courses
Financial Advisers can earn around $70K-$129K per year.
Pay for financial advisers varies depending on qualifications, experience, the number of clients they have, and the type of work they do.
- Financial advisers usually earn between $70,000 and $129,000 a year.
- Financial advisers can earn between $52,000 and $215,000.
Financial advisers usually earn commission on top of their salary.
Self-employed financial advisers' incomes may be entirely from commissions.
Source: TEC research.
Financial advisers may progress to set up their own financial planning businesses, or move into management roles.
Financial advisers may specialise in:
- insurance
- investments
- risk management
- sharebroking
- underwriting
- mortgages.
Years Of Training
1-2 years of training usually required.You need a qualification to become a financial adviser and experience may be useful.
You need:
- a New Zealand Certificate in Financial Services (Level 5).
You may need
- experience in similar work
- a Bachelor's degree in business, finance, commerce or similar
- to be a member of Financial Advice New Zealand
- to be a Certified Financial Planner.
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