Do you feel like you have worked hard enough but your current job is not bringing you anywhere? You are working long hours, but you feel that your salary does not equate to the amount of time, energy and commitment that you have put into the job. Or, do you want a new challenge, a new job that will make you feel different, satisfied and always young at heart?
If this is the case, you may want to consider having a switch of career to be a financial consultant.
Financial consultant has now emerged as one of the most promising career options in Singapore. Let us take a look at some of the reasons behind its popularity and other important factors that you need to consider before making a decision that can change your life forever.
Benefits of being a financial consultant
1. Flexible working hours
If you are not a huge fan of the traditional 9 to 5 working hours, being a financial consultant may be the perfect solution for you. You no longer need to be stuck behind your desk or in your small cubicle every single day from Monday to Friday doing repetitive tasks, when you cannot wait for the clock to go faster till it is finally time to go home.
As a financial consultant, you will be in full control of your own schedule. You can work flexible working hours. You may not need to rise very early in the morning and beat the peak hour traffic.
This is because you have more control of your time. For example, you may set an appointment with your potential client during lunch time. Or, you can enjoy free time during weekdays and have meetings with clients during weekends. It really is up to you, and your clients if they agree, of course.
2. The money
Needless to say, the money that you can bring home from being a successful financial consultant is undeniably good. This high earning potential, of course, does not come as easy as you think it would be. You will need to pose extensive knowledge related to your career as a financial consultant to convince your clients and to make them trust you.
Nonetheless, there are other important skills that you should have too, such as good communication and interpersonal skills. You will also need to have the patience and persistence. You are not supposed to feel down when a client turns you down. Instead, you have to keep trying and persuading.
In addition to the good money in your bank account, you may also get additional rewards or compensation from your company. This usually happens when you can successfully achieve the target set by your company. A common reward offered is by getting the opportunity to travel without having to pay anything but your own personal expenses. The company may cover all travel expenses such as tickets and accommodation.
What does it take to be a successful financial consultant?
All the benefits mentioned above sound tempting. But, to be able to enjoy great things in life, you should be willing to work hard. Nothing comes easy in this life, hard work is what makes it all worth it in the end.
For example, as a financial consultant, sometimes you need to swallow your pride and forget about ego, especially when you are dealing with “obnoxious” clients and these clients are the golden tickets you do not want to miss.
The working hours may be flexible, but sometimes you will also be required to work all day long or days without resting. Your proposal for your client should be perfect. You cannot use the same proposal for all clients because it may not answer their needs. You will need to take time to learn about their financial situation before you can draft a proposal that will satisfy them. Remember that your reputation is on the line.
Another thing that you need to think through is about expenses. High commission, after all, usually comes with high expenses. What if your client wants to meet in a high-end restaurant? You cannot say no to this. And in the end, it is usually you, the financial consultant, who will have to pay for the bills. Are you ready for this?
High commission also gives you high pressure. Not a day goes by without you worrying about not achieving your target. You may be fired. What about all the money you have spent to treat clients or bring them gifts?
Why more people are considering to become a financial consultant?
The robust economy of Singapore is mainly supported by key industries namely manufacturing and machinery, financial services, tourism and cargo seaport. But the country is now transitioning from manufacturing to the services industry.
Although the manufacturing industry is still dominant in Singapore, we can see that in the last couple of years, the services industry, which include banking and finance, showing tremendous growth, thanks to the government’s continuous support to consistently provide a pro-business environment. Today, there are over 200 banks in a country as small as Singapore. Moreover, global financial companies from all around the world have penetrated Singapore’s financial market, making the country one of the best financial hubs. This leads to the growing popularity of the financial consultant career.
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