Financial Services Professional Job Profile
Discover what it's like to work as a financial services professional, here.
The financial services industry comprises a broad range of businesses that specialise in consulting and money management within the banking and insurance sectors. ‘Financial services professional’ is an umbrella term for the workers in this area and covers a range of advisory roles tasked with dispensing financial advice, recommending products, and offering negotiated terms on mortgage applications.
What is a financial services professional?
Financial services professionals perform an essential public service by offering private and corporate customers options for deals on investments, insurance, tax, pensions, mortgages, and loans.
While administrators are usually office-based, professionals such as financial advisors may be required to visit customers at home or on business premises. Moreover, independent financial advisors, or IFAs, are required to follow the exact letter of the UK law and provide their client with the best current options when offering financial services and giving advice.
Therefore, financial services professionals should be effective communicators, adept with numbers, and have an analytical mind.
Responsibilities
Your responsibilities as a financial services professional will vary depending on where you’re employed and what level of experience you have. Despite this, almost all financial services professionals will have a broad role involving some or all of the following responsibilities:
Gather client information (e.g. age, income, and family size) to assess clients’ service options while keeping sensitive information confidential
Develop and maintain long-term rapport with customers and clients to facilitate profitable relationships
Keep abreast of latest product and service innovations to offer customers the most suitable services
Assist the sales team in generating business via cross-selling and effective marketing strategies
Coordinate with the branch manager to analyse applications, prepare sales strategies, and produce data-driven reports
Maintain and apply knowledge of branch procedures, ethics, and codes of conduct at all times
Financial services qualifications
Because financial service professionals work in a wide variety of roles, there is no strict learning path into the finance sector. For some positions, a strong set of GCSEs and A-Levels is sufficient, but others require a certain degree of technical understanding and theoretical knowledge gained from further education.
While a career in finance is open to all relevant graduates, the following subjects may be beneficial. Some of the following may also entitle you to exemptions from some professional examinations:
Business
Data
Economics
Mathematics
Statistics
BPP financial services courses
Whether you’re looking to start an apprenticeship, gain a professional qualification, or continue your professional development, we have over 90 courses to suit various finance career stages. From specialist programmes through to globally recognised professional qualifications and one-day CPD sessions, you’ll gain industry expertise and technical ability that sets you apart and opens up career paths in multiple financial services sectors.
Financial Services Professional Apprenticeship
As a financial services professional, you must have excellent communication skills, the ability to understand, interpret and fulfil client requirements to the highest standards, demonstrating an ethical and professional approach. This apprenticeship could be for you if you are ambitious, enjoy financial services, and are aspiring for a career in either investment management, operations, or retail banking.
CISI Capital Markets Professional Qualification
The CISI Capital Markets Programme is a wide range of qualifications for individuals working within the financial services industry. Our CISI Capital Markets programme has been designed specifically for professionals looking to further their career in financial services.
Skills
There are a range of skills, both technical and soft, that are beneficial for financial services professionals. They include:
Communication skills
As a financial services professional, you will need good written and verbal communication skills to interact with a broad range of customers who are unlikely to have expertise in your area. Therefore, the ability to convey product and service information in a clear, engaging manner is crucial.
Numeracy
Numeracy skills involve working with numerical and graphical information, concluding, and explaining your findings. Financial service professionals should have an aptitude for numbers as they are required to assess the most suitable financial services based on their customers’ financial circumstances.
Customer service
Customer service encompasses communication and problem-solving skills, as well as the ability to empathise and listen. Good financial service professionals understand their customers and what makes them happy, and demonstrate the capacity to win new, and retain existing business.
Emotional intelligence
All financial organisations, be it actuarial, regulatory, or consumer banking, rely on strong relationships. Much of a financial services professional’s time will be spent discussing potentially sensitive information with clients, so effective listening skills and empathy are imperative.
Salary and benefits
Salaries depend on the specific role, level of experience, and seniority, but junior financial services professionals can expect to earn a salary somewhere in the range of £18,000-£35,000. As you develop within your role and progress into mid-weight and senior positions, finance salaries can extend up to £100,000+.
Note that salaries vary widely according to the type, sector, size, and location of the employing organisation. The highest salaries tend to be in London and the surrounding areas, while the private sector, most notably the banking and capital markets sector, tends to pay more than the public sector.
Career path
Work experience
Relevant work experience can be valuable and there are many opportunities available. Some employers run vacation placements or short work experience taster courses but remember to apply early as competition for places can be fierce.
Moreover, many professional accountancy bodies offer traineeships, while some employers offer industrial placement years, which you can take as part of a four-year sandwich degree. It pays to be proactive when seeking work experience in the finance sector, so do not be afraid to approach a firm directly for work experience, even if they have not advertised placements.
Continuing professional development
When completing Continuing Professional Development (CPD), financial services professionals should identify the relevant CPD requirements to carry out their role effectively as well as build a plan towards their career ambitions.
CPD requirements in financial services range from 12 hours for a qualifying Institute of Financial Services student up to 35+ hours for fully qualified financial advisors, planners, and investment specialists. CPD requirements for financial advisors are not solely limited to technical learning but should also embrace soft skills that are essential to management, business, and professional people skills.
Find out more about our financial services programmes here.
