Important Qualities Of Successful Financial Advisors: Do You Have What It Takes?

Financial advisors generally work for banks, insurance companies and mutual fund companies, offering a range of services to their clients including making thorough assessments of their income and expenses, tax status and financial projections; assisting them in choosing the right type of bank loans that will match their requirements; and dishing out sound financial advice that will benefit the client. The earnings usually consist of a fixed base salary plus commission on products sold.

If you are looking to enter the industry or are already a financial advisor ready to better yourself by learning more on some of the qualities of a successful financial advisor, this article will get you started on the right path.

Traits for success

Knowledge of the financial market

A financial advisor must have certain predispositions for this profession and knowledge of the financial market is on top of the list, as well as a willingness to learn and keep updated with the latest offers and services in the industry. Remember that it is only with comprehensive product knowledge that you will be able to provide clients with quality service.

Great people skills and strong focus on customer service

Successful advisors are able to listen to the client and advise them on choosing the best option with an emphasis on always keeping their needs first. Care and concern for the client is truly one of the most essential skills. Being able to understand the specific needs, put someone else’s interest first and take an empathetic position creates a bond with a customer. It’s easier to do business with people we like and trust.

Passion and drive for sales

Since it’s no secret that the earnings are largely based on commissions, it goes without saying that passion and drive for sales is necessary. A successful financial advisor shows initiative and is always determined to close the deal. It is important to be able to maintain this passion while keeping the integrity and staying honest with the client.


Having the ability to set goals and manage priorities is essential as it helps to keep organised and to stay on top of tasks on-hand.

Be proactive

A reliable financial advisor to their clients is proactive in their approach. Follow up regularly with clients and be prepared for phone calls, emails, meet-ups and chasing to close sales. All these may seem intimidating at first but once you start, you will find yourself caught up in the momentum very quickly and follow ups will very soon become your second nature.

Prodigious communication skills

Thoughtful and timely communication is vital as it is necessary to keep all your clients and team mates in the loop, with everyone involved knowing of any and all new developments. This helps to execute work correctly and ensures that everyone is moving along with their part in the project.

Ability to handle rejection

In this line of work, rejections and the resulting feelings of discouragement can happen quite often. However, despite this, it is absolutely crucial to keep a positive outlook, high energy level and to always have an eye out for new opportunities. Optimism helps to keep you motivated, so it is important to take some time to regroup and refocus by envisioning positive outcomes in order to continue pursuing and seeking new challenges.

Ultimately, it takes time

Skills we have mentioned may seem intimidating to a newbie and it may take some time and practice to develop them. Always be willing to learn from your mistakes, be open to feedback and listen to your clients as well as other colleagues. Constantly improve yourself by attending trainings and workshops and consider learning from a mentor, someone who is more senior in the role and has broader experience.

To get more tips on success as a financial advisor, be sure to follow us more on this blog, as well as read other insightful articles.

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