Customer services

Financial adviser

Financial advisers help people and organisations to choose investments, savings, pensions, mortgages or insurance products.

Annual Salary

£25,000 to £90,000

Average UK salary in 2018 was £29,588 (source Office for Statistics)

Working hours

35 to 40

4%
Future employment

There will be 4% more Financial adviser jobs in 2024.
In your local area

What's it all about?

You could work for any UK organisation that sells financial products, or for a specialist investment or pension consultancy.

You could work as a tied, multi-tied or independent financial adviser (IFA):

  • tied - usually working for banks, building societies or insurance companies, and only offering your own company's financial products
  • multi-tied - dealing with a number of companies and only selling their products
  • IFA - offering products and giving advice on all financial products on the market

Your day-to-day tasks will include:

  • talking to clients about their finances and plans
  • researching financial products and explaining them simply and clearly
  • negotiating with providers of financial products
  • producing financial reports
  • updating clients about their investments
  • meeting performance and sales targets
  • keeping up to date with new products and law changes

You can get into this job through:

  • a university course
  • an apprenticeship
  • working towards this role

University

You could start by doing a degree in:

  • financial services
  • business management
  • accountancy

Once you finish your course you could apply to join a financial services company or bank as a trainee adviser.

You'll usually need:

  • 2 or 3 A levels

Apprenticeship

You could do a financial adviser higher apprenticeship or a financial services professional degree apprenticeship.

You'll usually need:

  • 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent qualifications, for a higher or a degree apprenticeship

Work

You could start as a financial services administrator or customer services adviser in a bank and work your way up.

To do this, you'll need to study for a level 4 qualification in financial advice recognised by the Financial Conduct Authority. These include:

Further Information

You can find more on working in financial services through The London Institute of Banking & Finance.

£25,000 to £90,000

Starter salary: £25,000 to £30,000

Experienced salary: £30,000 to £50,000

As an IFA, you'll charge clients a fee. This can be around £150 an hour or a fixed fee that depends on the amount of work and value of the investment.

These figures are a guide.

35 to 40

As a financial adviser at a high street bank or estate agency, you'll usually work around 35 to 40 hours a week including some Saturday mornings.

You could work in an office or a contact centre. Evening and weekend work is common in contact centres.

As an IFA you could work from home or travel to meet clients in their own homes. You'll usually need a full driving licence.

If you work for a large financial organisation, you could specialise in one area of work like retirement planning. You could also move into management, recruiting and training new staff.

With further specialised professional qualifications, you could become a director or partner in your firm.

Another option is to move into compliance work, making sure your company is following industry guidelines.

Skills required and how your skills match up

What skills are required?

You'll need:

  • customer service skills for finding out customer needs
  • knowledge of economics and accounting for understanding financial markets and products
  • maths knowledge for creating financial plans
  • the ability to sell products and services
  • excellent verbal communication skills
  • active listening skills
  • business management skills for negotiating product rates
  • to be thorough and pay attention to detail
  • to be able to use a computer and the main software packages competently
My top 5 skills from the skills bank
Please sign in to compare your skills to this job. Sign in

To save or view your choices and results you must sign in or register (takes 1 minute).

Sign in Register