Financial Consultant: Everything you need (+ top skills)


A financial consultant helps you make smart decisions with your money.


They use their knowledge and expertise to construct financial plans that will help you achieve your financial goals.


In this article, we will cover all you need to know about a financial consultant – duties, job requirements, career, salary and skills.


Who is a financial consultant?


A financial consultant can otherwise be called a Financial Advisor.


Note this because the word would be used interchangeably as we proceed.


He or she is your financial planning partner. We all have certain financial goals that we hope achieve.



A financial advisor who is skilled enough with the right licenses is there to help you make your plans a reality.


Together, you and your advisor will draw up a plan, that includes the amount of money ou should save, types of bank accounts you need, etc.


He/she also educates you on what it will take you to reach your goals.

He will give you detailed explanation on financial topics.



At the beginning of your relationship, he will teach or educate you on the basic knowledge on finances (e.g budgeting and saving).


Then, as you advance, he will assist you in understanding complex investment, tax and insurance matters.


What does a financial consultant do?


A financial advisor is in charge of a lot of things, and some of those things are:


1. He gives financial advice to his clients. Let us say a client wants to set up an investment portfolio.

A financial advisor must be able to take into account a range of information that includes economic trends, regulatory changes etc.


2. He or she also help their clients plan for short term and long term financial goals, e.g retirement.


3. They recommend investments to match the clients’ goals and budget.

Then, go ahead to invest the clients’ money based on the clients decisions.


Financial Advisor Duties and Responsibilities


Financial advisors typically do the following:


1. Meet with clients physically to discuss their financial goals


2. Explain the different types of financial services they offer.


3. Teach and educate clients, answer questions about investment options and potential risks.


4. Recommend credible investments to clients or select credible investments on their behalf.


5. Help clients plan for specific circumstances, such as retirement or education.


6. They monitor clients’ accounts and determine if changes are needed to improve the client’s account performance or accommodate life changes such as pregnancy, marriage, etc.


7. They research investment opportunities


8. Designing financial strategies


9. Assisting clients to make informed decisions


10. Negotiating with product suppliers for the best possible rates.


Most of the financial advisors are licensed to buy and sell financial products such as stocks, bonds, annuities and insurance, depending on what was discussed earlier with their clients.


Financial advisors requirement


Most financial advisors undergo rigorous education and training to attain the certifications and skills needed to thrive in their career.


Let us take a look at some of the things required of a financial advisor:


1.A bachelors degree typically in finance, accounting, business, economics, statistics or a similar field.


2. Proficient knowledge in risk management, taxes, investments and estate planning.


3. Obtain necessary certifications such as the Certified Financial Planner (CFP) or Chartered Financial Consultant (ChFC).


4. A masters degree in finance or a related subject can offer a competitive edge.


5. Experience

See also: Financial Controller: Functions, Skills, Salary, Qualifications (detailed guide)


Financial consultant jobs


Financial consultants work with companies or individuals to plan their financial future by offering information and guidance on topics that include taxes, investments, and insurance decisions.


See a list of top 10 financial jobs available in Nigeria

1.FINANCIAL ADVISORS AT FOSAD CONSULTING

2. INVESTMENT & FINANCIAL SERVICES CONSULTANT AT AETI POWER SYSTEMS

3. SENIOR FINANCIAL SERVICES CONSULTANT AT BROOT CONSULTING

4. FINANCIAL CONSULTANT AT HAMILTON LLOYD AND ASSOCIATES

5. FINANCIAL PLANNER AT LASACO ASSURANCE PLC

6. EXECUTIVE FINANCE ASSISTANT AT FOSAD CONSULTING

7. FINANCIAL ADVISOR AT CONSOLIDATED HALLMARK

8. FINANCIAL SALES ADVISOR AT HYT CONSULTING

9. CORPORATE FINANCE MANAGER AT PIVOTAGE CONSULTING, LAGOS.

10. FIRST BANK OF NIGERIA (FBN) INSURANCE LIMITED RECRUITMENT 2020 FOR A GRADUATE FINANCIAL ADVISOR.

See also: Financial Independence: Easy tips to retire early (+ free ebooks)


Financial Advisor Career


A career as a financial advisor is rewarding.

Working as a financial advisor provides a range of opportunities that isn’t widely available in many other career fields.


Working as a financial advisor gives you access to unlimited earning potential, a flexible work schedule, and control over your practice.


A lot of people don’t know what to do with their money, working as a financial advisor gives you the opportunity to provide education on financial issues to clients so suitable decisions can be made.


Apart from the pros, the cons cannot be excluded.


A financial advisor faces a lot of stress when starting out.

Nevertheless, once you hone your craft. You can be sure to succeed.


Financial consultant salary


According to My Salary Scale, the average financial advisor’s salary in Nigeria is N145K.

1.Entry Level salary for financial advisor = N155K.


2. Mid Level Salary for financial advisor = N95K


Financial consultants may also earn bonuses and commission and have additional benefits as an incentive to their salary.


Financial consultant skills


You will need to possess these skills below:


1.Excellent communication, interpersonal and listening skills


2. Capability to explain complex information simply and clearly.


3. Ability to network and establish good relationships with clients.


4. Ability to research and must be proficient in analytical skills.


5. Must be able to negotiate and influence people as well as possess a strong determine spirit.


6. Must be able to work well in a team.


7. Must have excellent customer service skills.


8. Must be self motivated and organized.


9. Must have a flexible approach to work.


10. Discretion and an understanding of the need for client confidentiality.


In a nutshell


A financial consultant can choose to be self employed.

The market for financial consultants is very vast.

To succeed in this field, you will need to possess adequate knowledge in your field.


Was this article useful? Click the share button now.

0 Shares:
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like