A financial sales consultant’s job is to manage the financial needs of individuals and businesses. This process could include trading on financial markets, in which case a representative would need to be licensed to do so. A consultant’s type and size of transactions and clients are determined by the type of organization for which he or she works. Nonetheless, one of the primary responsibilities of a professional who interacts with the public and other industry participants is to provide excellent customer service.
A retail banking facility might hire someone to work as a financial sales consultant. Customer service is likely to be a big part of this job’s responsibilities. Sales representatives frequently meet with retail customers to assess their needs and determine how the financial institution can best meet those expectations. In some cases, the sales consultant may be responsible for introducing new products or upgrading an existing offering that a customer is already using. This could result in the bank earning more money and the consultant earning a higher commission.
Client meetings may be ad hoc or scheduled, depending on the type of organization for which a consultant works. In an open-to-the-public retail banking environment, a representative is more likely to greet customers as they approach the facility. This professional may have a more structured day in a larger institution, where gatherings are formally scheduled and the financial status of clients is known.
Customers are regularly introduced to new products by companies in the finance industry. It is usually the responsibility of the financial sales consultant to become familiar with any upcoming offerings and determine who the products are best suited for. Some of the products that a financial sales consultant will introduce to clients are subject to interest rate fluctuations, such as mortgages and fixed-income investments. In light of current economic conditions, a salesperson is usually well-versed in the cost of solutions for an employer and individuals.
Even if this representative reports to a more senior manager, the role of a financial sales consultant has some autonomy. Clients may expect the representative to create a savings, insurance, or investment portfolio for them. These funds are typically designed to help people achieve their long-term goals while minimizing risk. As a result, financial licenses and certifications are common among consultants, allowing them to participate in markets where stocks and bonds are traded and insurance products are sold.