An investment adviser must provide fee information when registering new clients.
Working in the financial services industry, there is a wide range of opportunities for investment advisor representative positions. This career is usually well paid, does not require long hours of work and is found in all investment firms. The main function of this job can be divided into three sections: selling investment products to new clients, maintaining relationships, and staying up to date on new investment products.
Investment adviser representatives are involved in sales and customer service.
There is no formal training program to become an investment advisor representative. In some states, there is a three-month correspondence course on investments and securities, but this is an optional program. Most employers require a college degree or a diploma from an accredited university or college as a condition of employment.
There is a training program for all new employees offered by the investment firm. This training focuses on different product offerings, approved sales methods, learning sales scripts, and other skills needed to be an investment advisory representative. People who are naturally outgoing, communicative, and enjoy working with others report the most satisfaction with this career.
The main responsibility of a representative of an investment adviser is to sell investment products. Unlike other products, where product details are clearly listed and the client is free to choose, investment products are often sold as part of a professional service. Customers select from a variety of packages or groups of product families. The advisor is free to change actual investments to meet clients’ long-term goals.
The sales techniques used for this type of product focus on the experience, reputation, history or past performance of the consultant’s company. The advisor is legally required to provide details of the account fee and fee structure when signing up a new client. This is usually accomplished by providing the customer with a brochure that covers this material.
The Investment Advisor Representative position is primarily front-line sales and customer service. As such, it is very important to keep in touch with existing customers, based on the initial sales contact. Calling customers to update them on the status of their accounts and providing them with valuable information about new products or services that may be of interest to them is an important part of this job.
All employees of investment adviser representatives must keep their information current by attending training courses on new product offerings. Learning the terms and names of new products, along with benefits, is critical to the job. These courses are offered during business hours and are a great opportunity to network with other representatives.