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Social

The Social person's interests focus on interacting with the people in their environment. In all cases, the Social person enjoys the personal contact with other people in preference to the impersonal dealings with things, data and ideas found in other groups.

Many will seek out positions where there is direct contact with the public in some advisory role, whether a receptionist or a counsellor. Social people are motivated by an interest in different types of people and like diversity in their work environments. Many are drawn towards careers in the caring professions and social welfare area, whilst others prefer teaching and other 'informing' roles.

Salary Range
€k - €k
Career Zone

In Brief...

Carries out the day-to-day tasks arising in a Life Assurance/Mortgage Broking environment.

Knowledge

  • Customer and Personal Service Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • English Language Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Sales and Marketing Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
  • Administration and Management Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

Skills

  • Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Judgment and Decision Making Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Reading Comprehension Understanding written sentences and paragraphs in work related documents.
  • Speaking Talking to others to convey information effectively.

In Summary - Financial Adviser - Assistant

Career Sectors

Financial Adviser - Assistants typically work in the following Career Sectors:

Financial Services
Banking & Financial Services
FinTech
Banking & Financial Services

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The Work - Financial Adviser - Assistant

The Work

An Assistant Financial Adviser is a qualified worker capable of carrying out competently, under normal operational conditions, the day-to-day tasks arising in a Life Assurance/Mortgage Broker environment.

These tasks include conducting insurance business that conforms to regulatory changes; maintaining client files as specified by the Central Bank; inputting client and policy details to the computer and liaising with Insurers and Lenders.

The assistant financial adviser helps the financial adviser better manage their time by handling routine customer inquiries and should be familiar with financial terms and processes.

Employment opportunities can be found with mortgage brokers, banks and other financial institutions.

You will have opportunities to progress to senior positions in the Financial Services sector through your experience and further education or training which you may undertake in areas such as banking, mortgages and pensions.

Tasks

  • Provide support to the financial advisor.
  • Conducting insurance business that conforms to regulatory changes
  • Maintaining client files as specified by the Central Bank
  • Inputting client and policy details on computer
  • Liaising with Insurers and Lenders.
  • Answering customer queries relating to life assurance and mortgage broking
  • Implementing financial planning recommendations or refer clients to someone who can assist them with a plan implementation.
  • Answer clients' questions about the purposes and details of financial plans and strategies.

 

Most commonly reported Work Tasks

  • Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
  • Answer clients' questions about the purposes and details of financial plans and strategies.
  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
  • Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
  • Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
  • Manage client portfolios, keeping client plans up-to-date.
  • Contact clients periodically to determine any changes in their financial status.
  • Prepare or interpret for clients information such as investment performance reports, financial document summaries, or income projections.
  • Recruit and maintain client bases.

Most commonly reported Work Activities

  • Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Making Decisions and Solving Problems Analyzing information and evaluating results to choose the best solution and solve problems.
  • Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Analyzing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Updating and Using Relevant Knowledge Keeping up-to-date technically and applying new knowledge to your job.
  • Developing Objectives and Strategies Establishing long-range objectives and specifying the strategies and actions to achieve them.
  • Organizing, Planning, and Prioritizing Work Developing specific goals and plans to prioritize, organize, and accomplish your work.
  • Processing Information Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Interests - Financial Adviser - Assistant

This occupation is typically suited for people with the following Career Interests:

Administrative

Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.

They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.

Enterprising

Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.

Social

The Social person's interests focus on interacting with the people in their environment. In all cases, the Social person enjoys the personal contact with other people in preference to the impersonal dealings with things, data and ideas found in other groups.

Many will seek out positions where there is direct contact with the public in some advisory role, whether a receptionist or a counsellor. Social people are motivated by an interest in different types of people and like diversity in their work environments. Many are drawn towards careers in the caring professions and social welfare area, whilst others prefer teaching and other 'informing' roles.

Qualities

An interest in the financial services sector is important.

Excellent literacy, numeracy and communication skills are essential for this position.

An ability to work methodically and thoroughly.

Being able to work as part of a team along with good organisational skills are also crucial.

Entry Requirements - Financial Adviser - Assistant

SOLAS (Formerly FÁS) provide a Financial Adviser’s Assistant Traineeship which awards a QQI Level 5 Award in Financial Services Support.

This course is provided for candidates who have 2 year previous experience working in this sector.

The duration of the Financial Adviser’s Assistant Traineeship is 27 weeks.   The Traineeship consists of 19 weeks off-the-job training with SOLAS (including 2 weeks integrated training - 3 days per week with FÁS and 2 days per week with a host employer) and 8 weeks on-the-job training with a host employer.

The employer pays the apprentice while s/he is being trained on-the-job. A training allowance is paid by the local ETB while the apprentice is attending the off-the-job training, and an Apprentice Rate of pay during the on-the-job phases of their apprenticeship. Generally, the rates of pay are based on a percentage of the fully qualified rate for the occupation:

  • 1st Years – 33.3%
  • 2nd Years – 50%
  • 3rd Years – 75%
  • 4th Years – 90%

Training Allowances

A training allowance is paid by the local ETB to apprentices while attending off-the-job training. In some cases, a contribution towards travel or accommodation costs may be paid if deemed eligible. The sector the apprentice's employer is engaged in will determine the allowance payable. These allowances are calculated on the gross wages paid by industry in each sector. The amount the apprentice gets will generally be less than that, as it is based on the net take-home pay of the relevant sector. The weekly gross wage norms for different industries can be found here 

Student Contribution

The Annual Student Contribution is charged to students attending Higher Education Institutions including Institutes of Technology (IoT). Apprentices now pay the same contribution as full time students, but their contribution is based on the time they spend in the Institute or College.

The Student Contribution is payable to the IoT /College on the date of registration for the training phase. You should consult the relevant IoT/College for details of payment options.

Note: Apprentices are required to pay an examination fee to the IoT or College for repeat exams. For further information, click here.

Last Updated: February, 2015

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