A Chartered Financial Analyst equips his or her clients in making a wise financial decision in terms of investments and fund management. They are primarily concerned in making their clients receive a high pay back and effective investment.
A good educational background partnered with a goal-oriented and self-motivated attitude are required in this kind of job. Experience and on-the-job learning capability are also essential to manage the continuous demands of being a CFA.
Skills and Qualifications
A comprehensive review of experience is done before being a Chartered Financial Analyst. As such, the individuals are required to finish four years of decision-making in investment. A bachelor’s degree taken for four years and the completion of three six-hour examinations also needs to be completed. The designation of being a CFA is given by the CFA Institute for complying with the rules and standards as well as practicing the guidelines that are expected from an individual.
Individuals interested in becoming a CFA need to pass the examination in order to be recognized as one. This certification is usually required by companies to serve as proof of qualification of being fit to be a CFA.
Aside from this, they also need to be particular in details with good research skills and effective decision making capabilities. This will help them in weighing what will be the best investment decision for their clients.
They should also be good in requirements gathering since they need to have a full scope of the clients’ requirements and needs. This will be matched with whatever research they have made to come up with the best investment recommendation.
They should also be knowledgeable with financial statements, financial decisions, planning, and analysis.
Effective communication skills and customer service are also needed to be able to interact with the client the best possible way. They also need to be both fast thinkers and learners since this job needs continuous learning. It is often the case that individuals also learn while they are being assigned a project.
Time management is also needed since individuals are often required to do many tasks at the same time. There are even cases that they need to prioritize their tasks depending on the urgency and importance of activities.
They are responsible in giving sound investment advice to their clients. They need to do related research concerning stocks, bonds, and companies or industries they are assigned to. As such, they need to come up with an effective report that can summarize their findings. This report will serve as the basis for the client and the broker in making their specific decisions and moves.
Other responsibilities may include monitoring the progress or performance of a company. They can also consult with senior leadership in order to gather related requirements and confidential information that are key in making the right decisions.
Average Salary and Future Demand
Based on experience and qualifications, CFAs usually earns approximately $50,000. With current statistics and demand, the US Bureau of Labor Statistics is expecting an increase of 34 percent within the coming years.*
*According to the BLS, http://www.bls.gov/oco/