Index

Intro
Main Duties
Employment Requirements
All Titles
Exclusions

Intro

Financial advisors counsel individuals on financial decisions such as investments, cash management, and estate planning. They establish personal financial plans according to clients’ objectives and guide them through the implementation of the proposed strategies that may be adjusted as the situation evolve. They are employed by banks, trust companies and investment firms, or they may be self-employed.

Progression to financial management positions is possible with experience.
While these kinds of positions require a high degree of training and qualifications, persons who occupy them must continually update their skills and pursue professional development.

Main Duties

This group performs some or all of the following duties:

Develop personal financial plans for clients covering cash management, finances, insurance coverage, investments, retirement and estate planning, taxes and legal matters
Analyze clients’ financial records, set goals and develop a financial strategy
Advise clients on implementing the financial plan to help them achieve their goals
May also arrange for the purchase and sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability
May help to expand business and attract new clients.

Employment Requirements

A bachelor’s degree in business administration, commerce, economics or a related field is usually required.
The designation Certified Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required.
To sell regulated financial products and investments, such as annuities, RRSPs and life insurance, a licence is required from the appropriate governing body.
Certification as a Financial Planner is required in Quebec.
Various training programs and courses are offered by financial institutes and organizations, such as the Canadian Securities Institute, Institute of Canadian Bankers, CFA Institute, Investment Funds Institute, Canadian Institute of Financial Planning, and Trust Companies Institute of Canada, and may be required by employers.

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