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Financial Adviser

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Financial advisers give clients advice on the financial products and services that will make the best use of their money and meet their financial needs. Typical products might include mortgages, pension plans, investment accounts or insurance policies. The client may be a private individual, a company or an organisation.

The Work

There are two types of financial adviser.

In either case you could be:

Pay

The figures below are only a guide. Actual pay rates may vary, depending on:

The starting salary for a trainee financial adviser in Scotland might be between £18,000 and £22,000 a year excluding commission or fees. Qualified and experience financial advisers could earn between £30,000 to £40,000 a year, with senior financial advisers earning up to around £60,000 a year.

The income of a financial adviser partly relies on commission. Salaries advertised as including OTE (On Target Earnings) may appear high but are based on performance and cannot be guaranteed.

There may also be benefits such as bonuses, cheap insurance and a pension scheme.

Conditions

Workforce Employment Status

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Getting In

You could work for a firm of financial advisers or for banks, building societies or insurance companies throughout the UK. Opportunities are particularly good in financial centres such as London, Edinburgh, Glasgow, Cardiff and Manchester.

Workforce Education Levels (UK)

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Job Outlook Scotland

Employment

Unemployment

Percentage of workforce registered as unemployed (Scotland)

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Job Outlook Scotland and UK

  Scotland
2018
12926
2.1 %
RISE
2023
13202
  United Kingdom
2018
173925
2.4 %
RISE
2023
178116

LMI data powered by EMSI UK

What Does it Take?

You need to have:

You need to be:

Training

Getting On

Contacts

The following organisations may be able to provide further information.

Caliqual
E-mail: rdr@calibrand.com
Website: http://www.caliqual.org
Twitter: @caliqual

Formerly Calibrand Limited

Chartered Institute for Securities and Investment (CISI)
Tel: 020 7645 0600
E-mail: customersupport@cisi.org
Website: http://www.cisi.org
Twitter: @CISI

Chartered Institute of Bankers in Scotland (CIOBS)
Tel: 0131 473 7777
E-mail: info@charteredbanker.com
Website: http://www.charteredbanker.com
Twitter: @charteredbanker
Facebook: https://www.facebook.com/charteredbanker

Chartered Insurance Institute (CII)
Tel: 020 8989 8464
E-mail: customer.serv@cii.co.uk
Website: http://www.cii.co.uk/
Website (2): http://www.discoverrisk.co.uk/
Twitter: @CIIGroup

Financial Conduct Authority (FCA)
Tel: 0800 111 6768
Website: http://www.fca.org.uk
Twitter: @TheFCA

The FCA is the regulatory authority for the financial services industry in the UK. Their aim is to protect consumers, ensure the industry remains stable and promote healthy competition between financial services providers.

London Institute of Banking and Finance
Tel: 01227 818609
E-mail: customerservices@libf.ac.uk
Website: http://www.libf.ac.uk
Twitter: @StudyLIBF
Facebook: https://www.facebook.com/StudyLIBF

Personal Finance Society
Tel: 020 8530 0852
E-mail: customer.serv@thepfs.org
Website: http://www.thepfs.org
Twitter: @pfsconf

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