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Do financial advisors work only in banks?

Oct 5, 2015 15:44 IST

    Financial Advisor post is mostly fortified for banking and financial organizations around the world, which perform to their expertise in order to solve financial instabilities and planning of the financial outcomes of the organization in detail. But apart from this lucrative opportunity of working in banks and other major financial organizations, there are many financial advisors who are self-employed and run their own business.  These advisors can consult the wealthy individuals and other companies on a regular basis according to their needs. There is a constant demand of such financial advisors in the growing industrial phenomenon in our country as well. According to some statistics, there are not enough financial advisors present at the moment to fulfill the demands of the various level companies in the nation. Hence, it is a booming career opportunity which can be grabbed by both hands from the CA/CSA graduates from reputed institutions in the country and earn a prosperous living by working freelance or owning their own business.

    Employment of Financial Advisors

    The financial advisors are responsible for helping their clients with various investment allocation decisions, tax laws, retirement and estate planning and other related measures with the finances of the concerned company or individual. The short and long term financial goals of the clients are tried to be achieved by the financial advisors by turning their expertise into their expense and income streams and making careful deliberations keeping risk and return analysis in mind. Financial advisors apart of owning their own business can work for other financial institutions as well where they would receive a salary and a performance bonus according to the business they have brought for the company/institution.

    Career Opportunities for Financial Advisors

    Banks are safe places for financial advisors where they can have a fixed inflow of salary every month from the bank. They represent the bank and its various policies, schemes and other procedures in order to make sure that the clients get benefitted. The financial advisors could be hired by companies and organizations directly on payroll as well. This is generally the case with multi-national companies with huge returns and prospective accounts to manage. These advisors can earn handsomely outside working in a bank. There is a lot of scope in the financial sector being a financial advisor as the country lacks the proper amount of the same.

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