Financial advisors play a key role in the success of many businesses large and small and in the fortunes of millions of people around the World. Wealthy people rely on the advice of these industry experts in order to grow and manage their wealth and in making smart decisions when it comes to their finances.
In terms of a career a financial advisors role is one that not everyone can do and you must be highly skilled and have a great nose for global economics and financial markets in order to be able to offer advice on what people should do with their money. Let’s take a look at one of the top advisors in the U.S. and what kind of skills financial advisors possess that allows them to offer sound advice in what can be often volatile waters.
Star of Merrill Lynch
wealth manager and financial advisor has worked for the company for over 20 years, he started with the firm after earning his MBA at the University of Miami and has risen to become one of their top advisors. Throughout Dwyer’s time at Merrill Lynch he has consistently achieved great results and he currently manages over $2 billion worth of assets as part of the elite wealth management team that deals with the ultra-rich clients. Patrick Dwyer has been regularly recognized for his work and handed awards from the likes of Barrons and the Financial Times as one of the top advisors in the country. Patrick is a great example of what makes an excellent financial advisor and he displays all the skills required to offer the very best advice.
What Are The Skills
In the past a financial advisor’s success was solely dependent on their results, offer great investment advice, see return on investments and your career would skyrocket. The industry has now changed quite a lot and whilst results are central to the success of the financial advisor, customer service plays an equally high role.
Advisors must possess the ability to read markets, process vast amounts of highly complex information and be able to analyze it at speed. Naturally math skills are vital as is having a strong understanding of global markets and the cases and effects of movements through the financial world.
The financial services industry is highly competitive and as a result financial advisors must be able to build strong relationships with their clients. In order to do this an advisor must have excellent communication skills as well as being trustworthy, open and honest with their clients to gain their loyalty and their trust.
Financial advisors must be great sales people, they are after all dealing with people’s most prized possession, their money and in order to get them to part with it for the next bright idea, they must be able to sell the upside.
Being an advisor can be risky business and your entire reputation is based on your results, if you want to enter into this field then you need to be absolutely certain that you know just what you are doing.