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What Does a Financial Agent Do?

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  • Written By: Jessica Saras
  • Edited By: C. Wilborn
  • Last Modified Date: 29 March 2014
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Also known as a financial advisor, consultant, or planner, a financial agent works with his or her clients to help them become as financially successful as possible. To do this, the agent must first meet with the clients, analyze their current financial state, and take note of any potential problems. With this information, the agent can then develop a professional and objective plan that will help improve his or her clients' financial situation. He or she also offers recommendations for the future and notifies the clients of any potential investment opportunities.

Most financial agents have both a bachelor's and master's degree in business, finance, or accounting. Aside from the education, a successful financial advisor must also have exceptional mathematical abilities as well as excellent interpersonal skills. Most regions also regulate the licensing of financial advisors, and may even require testing and continuing education.

A financial agent can represent individuals as well as businesses. Typically, an individual client meets with his or her financial advisor twice a year to discuss any lifestyle changes that may have occurred, such as a change in career, retirement, divorce, or marriage. Business clients, on the other hand, often require a more prominent presence, as they are required to make more financial decisions than the average individual. As a result, many financial agents work exclusively for a particular company or bank, helping them manage everything from yearly budgets to mergers, stocks, and acquisitions.

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Regardless of whether a financial agent represents individuals, businesses, or both, he or she is responsible for providing sound professional advice to the clients. He or she not only helps clients achieve long-term goals, but also helps them figure out low-risk ways to increase wealth and identify areas that need improvement. In addition, he or she may also provide assistance with issues such as insurance, estate planning, and tax preparation.

Ultimately, a financial agent should help clients make the best decisions for their needs and prevent them from making mistakes. From recommending investment opportunities to examining their clients' tax situation, the agent's primary goal is to help his or her clients get the most out of their financial situation. Whether it's providing help for one area of their lives—such as college and retirement planning—or just helping them budget their money, a financial agent is responsible for creating a personalized plan that addresses each of his or her client's specific needs and helps them meet their goals quickly and with as little risk as possible.

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Discuss this Article

sunnySkys
Post 2

@indemnifyme - I bet your financial agent really has his customers best interests in mind. However, I think I would be more comfortable just paying a financial agent by the hour.

At least that way, he would be paid fairly for his services. I know not everyone is like this, but I feel like if people are getting commission they are more likely to recommend the more expensive products! I would feel better knowing I was getting genuine advice that wasn't based on the products the financial agent was selling.

indemnifyme
Post 1

There is a financial agent who works with my insurance agency. He can advise people and also sell them financial services.

I think a lot of people are suspicious of him once they realize he sells services also. The thing is, the consultation is free. He gives customers a ton of financial advice and most of it isn't about the services he sells. And the only way he makes any money off of it is if someone actually buys something!

Honestly, if I made enough money I would get him to help me with my financial planning. The guy has been doing that job for years and I can tell he really cares about the customers!

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