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What Does a Financial Sales Consultant Do?

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  • Written By: Geri Terzo
  • Edited By: Shereen Skola
  • Last Modified Date: 15 November 2016
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The job of a financial sales consultant is to manage the financial needs of individuals or institutional clients. This process could involve participation in the financial markets, in which case a representative must be licensed for such activity. The type and size of transactions and clients that a consultant works with depends on the type of organization that he or she works for. Nonetheless, customer service is one of the primary responsibilities of a professional who interacts with the public and other industry participants.

As a financial sales consultant, an individual could be employed by a retail banking facility. Customer service is likely a main component of the tasks associated with this position. Often, sales professionals meet with retail customers to assess the needs of those clients and determine how the financial institution can best accommodate those expectations. In some cases, it may be up to the sales consultant to introduce new products or upgrade an existing offering that a customer is already using. This could result in increased revenues for the bank and a higher commission for the consultant.

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Depending on the type of organization for which a consultant works, client meetings could be random or scheduled. In a retail banking environment that is open to the public, a representative is more likely to meet with customers as they approach the facility. In a larger institution, this professional may have a more structured day in which gatherings are formally scheduled and the economic status of clients is known.

Organizations in the finance industry routinely introduce new products for customers. It is generally up to the financial sales consultant to familiarize himself or herself with any forthcoming offerings and learn who the products are best suited for. Some of the items that a financial sales consultant will be introducing to clients are dependent on the interest rate environment, products such as mortgages and fixed income investments. A sales professional is usually well versed on the cost of solutions for an employer and individuals in light of economic conditions.

There is some autonomy associated with the role of a financial sales consultant, even if this representative reports to a more senior manager. The representative may be expected to design a savings, insurance, or investment portfolio for clients. These funds are usually designed lead individuals to their ultimate goals without exposing them to enormous risk. Subsequently, it is common for consultants to have earned financial licenses and certifications that allow them to participate in the markets where stocks and bonds are traded and insurance products are sold.

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