How Personal Financial Advisors stay on track

360° view of time spent on each project
Personal Financial Advisors hourly rate: $42,95

How much could Monitask save you?

Annual savings

$
Сalculation is performed automatically upon data entry
SAVE NOW

What is the job of the Personal Financial Advisors

Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients.

Key tasks of the Personal Financial Advisors

  • Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.

  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Manage client portfolios, keeping client plans up-to-date.
  • Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
  • Analyze financial information obtained from clients to determine strategies for meeting clients’ financial objectives.
  • Answer clients’ questions about the purposes and details of financial plans and strategies.
  • Review clients’ accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
  • Contact clients periodically to determine any changes in their financial status.
  • Investigate available investment opportunities to determine compatibility with client financial plans.
  • Explain to clients the personal financial advisor’s responsibilities and the types of services to be provided.
  • Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
  • Prepare or interpret for clients information, such as investment performance reports, financial document summaries, or income projections.
  • Monitor financial market trends to ensure that client plans are responsive.
  • Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
  • Recruit and maintain client bases.
  • Meet with clients’ other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients’ financial goals and circumstances.
  • Devise debt liquidation plans that include payoff priorities and timelines.

Read full

What other tasks a Personal Financial Advisors may have

  • Open accounts for clients and disburse funds from accounts to creditors as agent for clients.

  • Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
  • Inform clients about tax benefits, government rebates, or other financial benefits of alternative fuel vehicle purchases or energy efficient home construction, improvements, or remodeling.
  • Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.

Read full

Top reasons to use time tracking for Personal Financial Advisors

Organize your paperwork and comply with legal requirements

Use Monitask for complete control over your employees' working hours and get information about the hours worked in the form of convenient reports.
Demonstrating the total number of hours spent each year helps support your business and increases transparency with your customers.

Receive more grants and investments

Proper time calculations will ensure that you have supporting documents and data to show when you apply for investments or search for new strategic partners.

Save on payroll and identify bottlenecks

Review daily timesheets and productivity scores to identify bottlenecks and ways to improve your operations quickly.
Implementing the correct time-tracking solution always results in reduced payroll costs for part-time and full-time employees, and companies can get more things done for each dollar they invest in their recruitment efforts.

Improve staffing and scheduling

Scheduling takes the guesswork out of the project's management.
By reviewing scheduling reports, managers can quickly identify efforts and estimated the workforce needed to complete the projects on time.

What other customers have to say about us

See all reviews from our clients on Capterra