Personnel Adviser Interview Preparation Guide

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There is no one set structure for a financial plan, which means there is wide variation. “Some people might give you 50 pages of stuff you don’t understand like charts and graphs, and another planner might provide a five-page snapshot of your financial situation, With a sample, you can say, ‘I really want that in-depth analysis,’ or ‘I don’t understand that.’”

If you are older, you may want a younger adviser who will outlive you. If you are young, you may want an older adviser who has been through difficult economic times.

Services could include retirement planning, manage securities, estate planning, tax planning, insurance, long-term-care advice, newsletters, and so forth.

Good responses include index funds, real-estate investment trusts (REITs), highly rated bonds, certificate of deposits (CDs) and a portion of money markets. Be cautious when the replies seem to promote managed funds, individual stocks, a directly owned real-estate property, reverse mortgages, commodities, long short funds, partnerships of any kind including master limited partnerships (MLP), options, hedge funds, investments with limited withdrawal privileges, collectibles, thinly held securities, and annuities with high costs and lots of fine print that provide flexibility for the insurer but not you.

Also be VERY cautious about replies that imply the adviser can do much better than the S&P 500 index with the adviser’s selection of equities. Very few professional beat the index, and it’s rare when they beat it for several years in succession.

I personally don’t think they should because I believe a home is an investment of last resort, perhaps convertible to a reverse mortgage when elderly at which point it is a debt, not an investment.

My passion for helping people reach their financial goals is much stronger than my ego. Every client deserves my respect and I pride myself on my professionalism and integrity. I am confident in my communication skills and comfortable varying my approach if necessary.

There is no right answer to this question, only wrong ones. You don’t need to make book out of this answer, just something short and positive is best. After all, it really does not matter to the interviewer, as long as you don’t say something foolish.

The point here is to convey to the interviewer that you are not leaving because you are mad, tired, bored, overworked, underpaid, or job hopping, just that you are leaving your job on because.

Share with the interviewer an example of a project that you worked on, perhaps you had to put in long hours and time on the weekend to meet a deadline and that in the end you completed the project or task on time and under budget and made your department or company look good.

“Yes; absolutely. It is not uncommon for my boss to tell me that I am one of the most reliable employees he has. He even makes such remarks on my evaluations. I believe he thinks so because I am dependable and I just get things done without having to be supervised and in the end it just makes him look good.”

This may seem like a trick question to many job candidates, but it really tells the potential employer what sets this person apart from the rest. This question may be difficult to practise ahead of time, as often the response is best phrased based on the flow of the interview itself. Listen and learn throughout, then use that information to ask the interviewing manager what they are looking for and play to that response in a relevant and honest way.

This isn’t an invitation to boast – you are being asked to match your strengths to the qualities needed to do the job. Don’t forget, it’s a very specific question. Why are you suited to this job, as opposed to any other? Thorough employer research will save the day, as it will enable you to match your skills, interests and experience to the job role and the company.

I often prefer to put the client's needs first by drafting client needs analysis.

I believe in giving the client information and the best plan that suits their budget and life style.

I have been working on a sales environment and ahve expertise of providing my clients with solutions they need with regards to their financial affairs.

It was the time that I was still working for the bank. my colleagues were on leave and was the only consultant remaining to reach the branch target alone of which I did and exceeded.

If you didn’t see this information on the planner’s web site, ask whether there’s an initial planning fee, whether they charge a percentage for assets under management, or whether they make money from selling you a specific product. Not only should you know how much the service will cost you, but it can help you determine whether they have an incentive to sell you things.

Some financial advisors have a niche, says Bera, and if you have a specific interest — such as charitable giving or socially responsible investments or if you’re a newlywed or recently divorced — you’ll want to find one that concentrates in that area too.

Edward A. Wacks, a CPA and CFP affiliated with Ameriprise Financial AMP -1.09%, says, “Most advisors tend to focus on people within 10 years of their age.” He for instance, focuses on soon-to-be retirees because he’s 61, and business owners because he has his own business. “I feel we have some commonality, and I understand their issues,” he says.

“Some of planners hold an initial planning meeting and then you see them once a year, and that’s all you get. Others might have quarterly check-ins. “Some clients just want to go over everything once a year and then they’re good. Others are looking for more support, so it depends on the amount you want to pay, and how involved you want your planner to be. Are you a delegator? Or do you expect your advisor to explain things to you?” If you're not sure of what you'll be comfortable with, the J.D. Power & Associates survey found that investors contacted 12 or more times a year had the highest rates of satisfaction with their advisors.

This is a legal term meaning they have a fundamental obligation to provide suitable investment advice and always act in your best interests, not theirs. They should also be willing to give you a written statement that they accept this responsibility.

Of the four main types of financial advisors, the certified financial planner (CFP) designation is harder to achieve than Chartered Financial Consultant (ChFC), because the former requires a comprehensive board exam; the latter, however uses the same core curriculum. If you want someone to manage your money, then look for a registered investment adviser (RIA). If you have a high income or a small business owner, you’ll probably want a certified public account (CPA), who can offer you advance tax planning. The personal financial specialist (PSF) certification is usually obtained by CPAs who want to demonstrate they can help clients with comprehensive financial planning.

“Does he or she talk 90% of the time? If it’s more like 60/40 and he has asked you how he or she can help you, that’s really important. Financial planning about looking at the person’s individual circumstance instead of punching in some numbers — it’s based on the client’s goals, financial background, what they believe about money, etc.”

Some advisers only take high-net-worth clients. That may not be suitable for you.

Ask the personal questions above about them too.

A satisfactory answer is yearly.

Yes, If you have a products you truly believe in promoting sales will come natural.

I understand the industry better and have an idea of which ropes to pull how and when.