How Do I Compare Investment Consultant Salaries?
An investment consultant helps clients build and maintain their financial portfolios and implement and manage their preferred investment plans. As with all financial advisers, investment consultants work closely with their client and monitor their investments to adjust their holdings over time as their financial goals change. Although there are no licensing requirements for investment consultants, most offer a full range of financial services that include estate planning and asset protection, retirement and investing, and creating a self-directed retirement plan. They can also assist with setting up a trust and planning for your post-retirement years.
Although not required, becoming licensed as an investment consultant can increase prospects of employment and allow more discretion in making investment decisions. Investment consultants are typically employed by firms that deal specifically with money managers or retirement products. Most people who seek the services of financial advisors are worried about a future loss of retirement income or just want a better return on their Social Security money. Many people are unsure what to do with the small amount of cash that they have accumulated through paychecks or investments. Investment advisers can help guide you in making wise investments that will produce the maximum returns. The key is knowing when to trust your financial advisors.
A doctoral degree is almost certain to shorten the path to employment as an investment consultant, but the rewards can be much greater. Consultants who earn a doctorate often choose careers advising small businesses, rather than large corporations. This career path allows them to work in many different settings and earn a wide variety of salaries. Consultants working for retirement or health insurance companies are usually paid more than those consultants who work for stockbrokers or mutual funds. Those specializing in estate planning are often paid more than those working in the financial planning field because the work involves researching estate and investing for clients. In general, the compensation package for retirement and estate advisors is larger than those of stockbrokers and mutual fund administrators.
Investment Consultants who earn a doctoral degree are less likely to be stuck in a dead-end job. They tend to move up in management positions and earn higher salaries. Their educational background no longer deters possible employers. Those specializing in financial planning are less likely to be demoted or let go in a down economy. Those specializing in estate planning may find themselves in a less stressful situation if the family has more money to pass down to their children.
For those considering earning a doctorate degree in financial services, the best way to do so is to participate in hands-on research. Consultants who choose to perform research instead of work in an office could benefit from taking classes that teach them how to become more effective communicators. The Communication skills learned in communication courses can translate quite well to the world of investment consultants. Those who choose to participate in hands-on research may also find themselves in a high-demand profession. Other options include becoming a teacher, author, speaker, or trainer.
As one can see, the sky is the limit when it comes to earning a doctoral degree in Financial Services. Those wishing to join the ranks of Certified Public Accountants (CPA) have to pass an exam, which will certify them for the CPA exam. Although the exam is challenging, it provides financial planners with an excellent credential. Those wishing to pursue a doctorate degree in Business and Management have an even greater choice of earning a prestigious doctorate degree. There are many graduate programs available at colleges and universities all over the world.