Pension consultants require strong communication and math skills, a degree in finance or accounting, and investment certifications. Industry experience and networking are also beneficial. Financial firms seek young college students with high GPAs. Professional options include working at a financial advisory firm or being employed by a corporate or public pension fund.
Pensions and consultants are two groups that really go hand in hand. Public and private pensions depend on the advice, knowledge and leadership of an investment adviser to make decisions that could affect the retirement of thousands of employees. A consultant is generally compensated based on fees and commissions received as a result of having clients. To become a pension consultant, which is very much a relationship-driven industry, strong communication and math skills are essential. A degree in finance or accounting is helpful, while earning investment certifications can complement education and increase opportunities.
Financial firms are interested in hiring young college students with outstanding grade point averages (GPAs) and an aptitude for understanding the ever-changing market environment. Even though you don’t need to do stock and bond picks to become a pension adviser, it’s a good idea to have some of the same industry certifications as stock pickers. Many investment advisers have earned a Certified Public Accountant or a Series 66 financial certification in the US, both of which could help on the road to becoming a pension adviser.
Obviously, the best way to become a pension consultant is to have industry experience. Be willing to participate in any on-site training programs offered at a finance company. Developing relationships in the pension industry is also beneficial, as these institutions can be future customers.
Attending financial conferences is a good way to keep up with any regulatory changes or recognize a change in the retirement landscape. Economists and other financial professionals are often invited to host seminars and give round tables on market trends. This may require out-of-pocket expenses for both attending the conference and travel, but the rewards can be long-lasting. Networking takes place at these events and meeting other industry professionals can open the door to career opportunities.
Professional options apparently abound once you become a pension consultant. Pensions hire financial advisors to provide guidance on investment strategies, market issues and risk awareness. These institutional investors strive not only to hire general investment advisers, but also advisers for specific asset classes, such as real estate or bonds. For pensions that do not hire third-party advisors, there are likely to be internal investment committees that guide the plans in decisions. Decide whether you prefer to work at a financial advisory firm, where there are more opportunities, or look to be employed by a corporate or public pension fund.
Protect your devices with Threat Protection by NordVPN
