Top 5 Traits of a Successful Financial Specialist

Every once in a while, many of us need a little help with our finances.

One solution to this issue is to take a closer look at your financial planning strategy. You need to examine everything, from your investments to your assets. Then, set goals that will get you back on track as soon as possible.

Need some help with managing your finances? Consider hiring a financial specialist. Here are five traits you should look out for.

1. Analytical Abilities

Creating a thorough financial plan involves a lot of key factors. These include cash flow planning, tax planning, investment management, and more. A good financial advisor must have in-depth analytical abilities across all these areas.

Their feedback is particularly valuable when it comes to investments. The risk-return relationship drives most aspects of financial planning. A financial advisor knows this and can plan an investment strategy in the context of key metrics.

2. Aligned Interests

All good financial planners will put the interests of their clients before their own. That said, they won’t take the job if their financial interests don’t match yours. They understand that this could potentially create a harmful relationship.

For example, selling the client products they don’t need is unethical. The same applies to charging high investment management fees. Charging 0.5% on assets under management is fair—anything more is draining the client’s resources.

3. Passion for the Job

Most successful financial specialists are passionate about their work. This makes them more likely to keep learning about the industry. Those without that passion tend to struggle to keep up with industry developments.

Why is this important? Simple: laws, standards, and methodologies within the financial world evolve all the time. If your advisor isn’t passionate about their job, they’re less likely to be good at it.

4. Salesmanship Skills

A personal financial specialist is always growing his or her book of contacts. The more contacts they have, the easier it is for them to sell their services across the entire financial spectrum. This includes everything from insurance planning to property development.

How can you tell a financial advisor is a good salesperson? They’ll be able to identify a gap or problem in your financial plan and convey the solution. Then, they’ll ask you for your business—as long as your interests align.

5. Accessibility

Throughout their day on the job, financial planners make all kinds of key decisions. They need to help clients understand risk and reward, select investments, and so on. The bottom line is: they protect your future and legacy.

Now imagine entrusting these decisions to a person who won’t return your phone calls. Your financial planner must be available at all times. If you have a question for them, their answer must be prompt and efficient.

More on Hiring a Financial Specialist

Personal finance is a tough subject for a lot of people. If you ever get overwhelmed, keep in mind that there’s no shame in turning to a professional. Once you find someone who fits the profile we outlined above, you’ll be in safe hands.

Want to know more about hiring the best financial specialist for your needs? Keep reading our Management section!