Investment advisor representatives sell investment products, maintain relationships with clients, and stay up to date on new products. There is no formal training program, but most employers require an undergraduate degree. The job involves front-line sales and customer service, and staying current on new products is important.
Working in the financial services industry, there is a wide range of opportunities for representative investment advisor positions. This career is typically well-paying, does not require long hours, 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 keeping up to date on new investment products.
There is no formal training program to become an investment advisor representative. In some states, there is a three-month correspondence course in investments and securities, but this is an optional program. Most employers require an undergraduate degree or 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, proven selling methods, learning sales scripts, and other skills needed to be an investment advisor representative. People who are naturally outgoing, talkative, and enjoy working with others report the most satisfaction with this career.
The primary responsibility of an investment adviser representative is to sell investment products. Unlike other products, where the product details are clearly listed and the customer is free to choose, investment products are usually sold as part of a professional service. Customers select from a number of bundles or groups of product families. The consultant is free to change actual investments to meet the clients’ long-term goals.
The sales techniques used for this type of product focus on the consultant’s company experience, company reputation, track record, or past performance. The consultant is legally required to provide details of the account’s fee structure and billing when enrolling a new client. This is usually achieved by providing the customer with a brochure that covers this material.
The investment adviser’s representative position is primarily front-line sales and customer service. As such, it is very important to stay in touch with existing customers by leveraging the initial sales contact. Calling customers to update them on their account status and providing them with valuable information about new products or services that may be of interest to them is an important part of this work.
All investment adviser representative staff should keep their information current by attending training courses on new product offerings. Learning the terms and names of new products, along with the benefits, is critical to the job. These courses are offered during business hours and present a great opportunity to network with other representatives.
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