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| *Ostroff, Fair and Company>>>Financial Services |
What is the job of a financial agent? |
duty of a financial agent There are different types of financial agents. I am most familar with Financial services sales agents, financial securities sales agents and commodities sales agents From the source: Financial services sales agents sell a wide variety of banking and related services. They contact potential customers to explain their services and to ascertain customers鈥?banking and other financial needs. In doing so, they discuss services such as loans, deposit accounts, lines of credit, sales or inventory financing, certificates of deposit, cash management, mutual funds, or investment services. They also may solicit businesses to participate in consumer credit card programs. Financial services sales agents who serve all the financial needs of a single affluent individual or a business often are called private bankers or relationship managers. With deregulation of the financial services industry, the distinctions among sales agents are becoming less clear as securities firms, banks, and insurance companies venture further into each other鈥檚 products and services. The agents鈥?jobs also are becoming more important as competition between the firms intensifies. Securities and commodities sales agents must understand the basic characteristics of the wide variety of financial products offered by brokerage firms. Brokers periodically take training through their firms or outside institutions in order to keep abreast of new financial products and to improve their sales techniques. Computer training also is important, because the securities sales business is highly automated. It is mandatory for all registered securities and commodities sales agents to attend periodic continuing education classes to maintain their licenses. Courses consist of computer-based training in regulatory matters and company training on new products and services. In addition, more sales agents are taking courses to become certified financial planners. The Certified Financial Planner credential issued by the Certified Financial Planner Board of Standards, requires relevant experience, completion of education requirements, passing a comprehensive examination, and adherence to an enforceable code of ethics. The CFP exams test the candidate鈥檚 knowledge of the financial planning process, insurance and risk management, employee benefits planning, taxes and retirement planning, and investment and estate planning. Source(s): http://www.bls.gov/oco/ocos122.htm... |
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