Explained: a day in the life of a financial adviser

Explained: a day in the life of a financial adviser

One of the most important components for many along their financial journey is to have an expert financial adviser.

Whether you’ve considered an adviser already, or you still need to fully understand how they can help you, we’ve put this article together so you can learn more about their potentially beneficial role in your finances.

Read on, to gain a glimpse into a day in the life of a financial adviser, and see how their service can make a difference.

1.     Discuss the financial circumstances of clients

A core part of being a financial adviser is to have a proactive and evolving relationship with clients. This is often one of the first things an adviser will take care of in their day.

An adviser will liaise with their client to get a more accurate idea of their financial circumstances.

For instance, this could be a new client who is only beginning their journey with their adviser. The expert will take time to learn everything relevant about the client’s circumstances, and importantly, all the challenges and concerns they might have regarding their wealth.

This forms a solid foundation for the adviser to develop the right approach for the client, so they can build their wealth in a manner that’s best suited to their situation.

Also, advisers might communicate with clients who already have a long history of working with them. This is because ongoing expert advice may be just as important to them as their first consultation.

The adviser may review a client’s current financial plan, and evaluate whether any changes are necessary to optimise their trajectory towards their targets.

2.     Build a financial plan

Another regular element in the day of a financial adviser is where they help clients to build a financial plan.

This is a vital process for every client, since it helps them not only outline all their financial goals, but establish the best approach to achieving them.

The adviser will help the client set out a range of goals which are both beneficial to their wealth, and realistic in terms of their current circumstances. For example, this could include goals centred around retirement, or possibly navigating a divorce.

Once the goals have been set, the adviser will set out a clear and achievable plan for the client to implement, so they can reach their goals as efficiently as possible.

The clearer and more informed the financial plan, the higher the chances of a client reaching a successful financial outcome.

3.     Manage client investments

Regardless of the various financial goals a client might have, optimising investments is often one of the most essential steps. Therefore, managing clients’ investments will be a crucial part of a financial adviser’s day.

One thing an adviser can do is suggest a wide range of options for their clients to help them invest in the most effective way possible. This includes exploring portfolios that offer the right balance of risk and potential return when aligned with the client’s current financial circumstances.

An adviser can often handle much of the investment process on behalf of the client. This can include things such as entering and exiting markets, monitoring the performance of investments, and researching new opportunities for wealth building.

They’ll also monitor factors which could impact the success of an investment strategy, including things such as how to respond to changing interest rates and any external influences on financial markets.

With the right adviser, you’ll receive a good service for optimising your investments, to help you grow your wealth as hassle-free and effectively as possible.

These are merely a few of the many crucial tasks a financial adviser can perform during their working day. More importantly, these daily tasks will evolve and be attuned for each client, offering them a tailored service that’s best suited for their circumstances.

If you’re looking for an expert service like this, contact your wealth manager now.

Please note, the value of your investments can go down as well as up.