Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
· Answer clients' questions about the purposes and details of financial plans and strategies.
· Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
· Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
· Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
· Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
· Manage client portfolios, keeping client plans up-to-date.
· Contact clients periodically to determine any changes in their financial status.
· Prepare or interpret for clients information such as investment performance reports, financial document summaries, or income projections.
· Recruit and maintain client bases.
· Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
· Investigate available investment opportunities to determine compatibility with client financial plans.
· Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
· Monitor financial market trends to ensure that client plans are responsive.
· Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
· Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
· Devise debt liquidation plans that include payoff priorities and timelines.