Investment Consultants are professionals who assist clients in finding suitable investments and companies for their business. They conduct researches and provide important advice to businesses that are planning to embark on ventures. They can be found in most investment banking, brokerage and financial consultancies. Most Investment Consultants actually find jobs in both the financial and corporate sectors. If you are an Investment Consultant then you would be serving as an advisory or specialist to a company or organization. In this role, you will be responsible of finding and advising clients on specific investments and related matters.
There are different types of Investment Consultants such as Financial Consultants, Manager Consultants and Marketing Consultants. As an Investment Consultant you need to have a wide knowledge base in the financial market as well as understand various investment options that your clients may have. Your duties will include evaluating investment proposals from your clients, identifying the potential risks and rewards, and creating a tailored plan for your clients to follow. In addition to this, you will need to monitor the performance of your clients and keep them updated on the status of their accounts. You will also be required to track the progress and performance of the investments they have made.
Investment Consultants are expected to have excellent communication skills, interpersonal skills, analytical and research skills, as well as good customer service skills. Investment Consultants are considered entry level professionals by many brokerage firms. The best way to get into this field is to begin working as a Management Consultant in a small company or private firm. Once you gain experience and learn the ropes you may be able to move to larger firms and begin advancing in your career. Most Investment Consultants break into the field through associate programs at colleges or trade schools.
Many people who want to pursue an Investment Consultant career also become certified financial planners. Certified financial planners are also known as Certified Financial Planners (CFP) or Financial Planning Technicians (FPT). Many people also go on to become Board Certified Financial Advisors (CCFA), also known as Certified Public Accountants (CPA). However, many people begin their careers as Investment Consultants with no other profession credentials.
The role of Investment Consultants is very important. They are involved in providing investment management and advice to corporate clients, individual clients, government agencies, and some insurance companies. The role of these consultants also extends to developing investment products such as pension and savings plans, bond issues, and securities, as well as advising on issues related to mergers and acquisitions. Investment Consultants can also work with self-directed ira plans, discretionary retirement accounts, and self-directed Roth accounts.
Because Investment Consultants help clients manage their money, they are often thought of as the “go-between” for professional investors. Consultants help their clients set up appropriate investment strategies. When these strategies are followed the clients can achieve their financial goals. However, some times investment consultants may have a conflict of interest in helping their client achieve their goals, since they may also represent the opposite party. This can cause conflict of interest between the client and the investment consultants, which can result in poor decisions being made to take a client’s money and give it to another client.