Career Planner: Wealth Management

Investment advisor

*Field Description

Investment Advisors (IAs) work for investment dealers that trade in securities — the largest firms in Canada are owned by banks, but there are also a number of independent ones. This job puts you face-to-face with investors, so you must be registered with securities regulators to be able to provide investment advice and buy and sell investment products including stocks, bonds and mutual funds.

Investment advisors buy and sell many different types of investments (bonds, mutual funds, options, and term deposits) for their clients. They may be self-employed, or they may work in banks or other large financial institutions.

*Common Job Titles

Assistant to Investment Advisor

EARNINGS $30,000 to $40,000 a year

REQUIREMENTS • Canadian Securities Course (CSC)

• Familiarity with business computer software

RESPONSIBILITIES Assisting advisors; doing research; maintaining computer databases; performing basic administrative duties.

Investment Advisor

EARNINGS $35,000 to $100,000 or more a year, based entirely on commissions

REQUIREMENTS • Bachelor’s degree

RESPONSIBILITIES Buying and selling investment products for clients; helping clients structure and maintain an investment portfolio; staying on top of developments in the business world and financial markets.

Senior Investment Advisor / Partner

EARNINGS $100,000 to $300,000 or more a year

REQUIREMENTS • Over 10 years of experience as an investment advisor

RESPONSIBILITIES

Buying and selling investment products for clients; helping clients structure and maintain an investment portfolio; staying on top of developments in the business world and financial markets; performing management and administrative duties.

*General Accountabilities & Duties

# Monitor stock market and industry trends likely to affect clients’ investments.

# Meet with clients, by phone or in person, to discuss these trends.

# Advise clients on the products or services that suit their needs and objectives.

# Arrange purchase or sale of stocks, bonds and other investment products on behalf of investors.

# Prospect, build and retain a client base.

# Stay up-to-date on current investment products and markets

*Key Skill Requirements

*Estimated Range Of Salaries

Income varies greatly, depending on the number and type of clients advisors have, where they work, and the value of commissions they receive. Investment advisors may earn as little as $30,000 a year or upwards of $150,000.

The Canadian Securities Institute (CSI) reports that most investment advisors can earn at least $100,000 after 3 to 5 years. However, it is important to note that annual earnings are closely linked to the rise and fall of markets and the strength of the economy.