Resource: Financial Sales

Are you financially-conscious and money-motivated? A career in financial sales requires a combination of business knowledge, financial experience, and sales skills. The entry-level positions are highly competitive, and it can take a few years to build a long client list and rise in the industry. But for those who succeed, the rewards are generous.

As a financial sales agent, you will help individuals and organisations purchase financial services and products, including shares, bonds, and mutual funds. There are many associated tasks: assessing your clients’ financial situation, advising them on a financial strategy, recommending products, negotiating prices, establishing accounts. The job requires an understanding of how individuals and companies can best develop their financial portfolios to fit their financial goals.

Of course, before you can work on these tasks, first you have to attract clients. Not only are you selling financial products, you are also selling yourself. Financial sales agents obtain clients through many methods, including cold calling, sales presentations, referrals, professional networking, and more.


Financial Sales: Past & Future

In recent years, the financial sales industry has become increasingly complex. International trading has become more common, and multinational companies and corporations have become the norm. Additionally, internet trading sites have made investing more accessible and attractive to a great many people.

At the same time, good customer service has become more important than ever. It may no longer be a necessity in today's world of do-it-yourself financial strategy, but it continues to be extremely valued. Working personally with a financial sales agent is considered to be an important sign of financial success and prosperity, and it is the obvious "next step" for many individuals who got their start as amateur investors.

The health of financial sales is largely dependent on the health of the economy. During an economic boom, there is a lot of buying, selling, and trading, so financial sales agents can expect to make a lot of commission. During recessions, however, there are slow times. This is a natural part of the industry.

Currently, competition in the field is extremely high. Due to the high salaries attainable by high-performing sales agents, financial sales is a highly sought-after career.




Financial Sales: Do you have what it takes?

Want to succeed as a financial sales agent? Here's what it takes.

• You should have strong personal motivation, ambition, and determination. New financial sales agents frequently work very long hours as they develop their customer base.
• You should have good interpersonal and communication skills. You must be an attentive listener, as well as a comfortable speaker.
• A bachelor's degree is generally a pre-requisite. An academic background in business, accounting, economics or marketing is recommended. Additionally, you will probably have to pass licensing exams.
• You should be able to stay calm under pressure, and perform comfortably in high-stress environments.
• Some positions may require former work experience.


A Career in Financial Sales: The Payoff

Financial sales careers offer a range of salaries, highly dependent on the agent's number of clients and the size of the clients' portfolios. However, the commissions system of compensation offers uncapped earnings. An established financial sales agent is likely to earn six figures and up.

Once you've established your client base, you can expect to make a generous salary, and work a relatively stable 40-hour work week.