How to Become a Financial Advisor

Thursday, August 11, 2022

It's clear that a technical understanding of pensions management has become more relevant than ever. The evolving regulatory landscape in both Ireland and the EU, coupled with a changing workplace environment emphasises the need for pensions careers. If you’re working in accountancy, business or finance, find out why a career in pensions management through Griffith’s Higher Diploma in Pensions Management could be a great next step.

What do pension advisors do?

Pensions advisors, or pensions managers, are a specific type of financial advisor who provides advice relating solely to pensions. They help clients plan for financial security during retirement. Pensions managers are required to have an in-depth understanding of financial regulations and laws relating to pensions in order to provide sound and legally robust advice. The day-to-day of a pensions manager might include client management, calculating the value of pensions funds, issuing statements, dealing with enquiries and searching for new clients.

What is a financial advisor?

A financial advisor is someone who helps individuals and organisations decide how to manage their money. They might be hired by an individual or by a company on a contractual basis. Depending on the client’s goals, financial advisors will assist with decisions around things like investments, savings and tax planning.

What do financial advisors do?

The day to day of a financial advisor can include:

  • Reviewing accounts
  • Buying and selling stocks on behalf of clients
  • Asset management advice
  • Developing strategies to help clients meet their overall financial goals

Is a pension advisor a good career?

As a result of COVID-19, clients are more reliant on brokers for assistance and financial advice is being more greatly sought after. When combined with continuing legislative changes plus an increased emphasis on governance and compliance, the demand for pension managers is only growing, making it a great area to get into in 2022 and beyond.

How do pension advisors make money?

Pensions advisors, and financial advisors for that matter, can make money in various different ways. If working as a sole trader, you can charge an hourly rate or you might have flat rates for specific services. If working within a bigger firm, you’ll likely have a salary but might have incentives or bonuses throughout the year. You may also be entitled to a commission based on performance or the use of certain products.

How can you become a pension advisor?

Most pensions managers will have a degree in finance, business, maths or accountancy and may have relevant work experience before looking to specialise. Griffith College’s Higher Diploma in Pensions Management allows you to do just that, by enhancing your knowledge of pensions and retirement planning principles. Successful graduates will be able to use their newly honed evaluative skills to advise clients (employers, trustees and individuals) on all matters relating to pensions in a professional, expert and comprehensible manner. Furthermore, as this course is taught in partnership with the Irish Institute of Pensions Management (IIPM), learners will become automatic IIPM members and have access to a range of benefits including free CPD events, networking opportunities and an invitation to the annual IIPM conference.

Interested in Pensions?

Griffith College’s Higher Diploma in Pensions Management is available on part-time basis at our Dublin campus. For more information about our 2022/2023 intake, email [email protected] or submit an application.