Tied financial advisers offer advice on their company’s financial products and services, such as investments, mortgages savings, pensions or insurance. Multi-tied financial advisers offer advice on several companies’ financial products.

What tied financial advisers do

• meet clients and explore their present and future financial needs
• explain the potential benefits and disadvantages of various products and services
• keep clients regularly updated on the performance of their investments, etc
• liaise with head office and financial services providers
• produce financial reports
• keep up to date with changes in law.

Key skills

• good numeracy and IT skills
• ability to research and analyse financial information
• ability to communicate well with a diverse range of people and to explain complex information in an accessible way
• good sales and negotiation skills
• excellent time management.

Training to be a tied financial adviser

On-the-job training, supported by in-house courses, will often form the early part of a training programme.

Trainees must also undertake industry-recognised training that meets the standards set by the Financial Services Skills Council. The many professional qualifications available include a range of certificates and diplomas from the Chartered Insurance Institute (CII), Institute of Financial Services, Securities and Investment Institute (SSI) and Institute of Financial Planning.

Salaries

A basic starting salary will be in the region of £18,000 to £25,000 but this excludes commission which, depending on the performance of an adviser, could increase earnings to up to £40,000 or more.

Professional bodies

• Chartered Insurance Institute (CII)
• ifs School of Finance
• Institute of Financial Planning (IFP)
• Securities and Investment Institute (SSI)

Related jobs

• Independent financial adviser
• Tax adviser