Becoming Financial Consultant

The financial consultant is entrusted with a variety of tasks, including:

During an in-depth examination, the financial consultant assesses the financial situation of the client, identifying key areas for improvement and offering solutions. This includes investment planning, wealth management strategies, and advice tailored to the specific needs of each business or individual.

To carry out this work, they take into account the company’s overall goals, investment portfolios, accounting, and cash flow to offer customized financial planning services. They help businesses and individuals determine the best action plan for their financial future, often recommending specific financial products such as life insurance or retirement accounts.

In scenarios like mergers and acquisitions or raising capital, the financial consultant offers fiduciary advice while also considering investment strategies. They ensure all decisions are in compliance with current regulations, while also focusing on tax savings. These advisory services include consultation on estate planning, budgeting, and creating a robust financial plan for long-term wealth building.

The consultant’s strategic role often involves the use of financial technology and robo-advisors to manage assets efficiently. From determining the most suitable financial products to implementing the best fee structure, they offer financial advice that helps businesses or individuals meet their financial goals. Consultants may also provide online services, leveraging technology to provide a personalized experience for their clients.

The financial consultant employs both technical and personal skills to perform their daily tasks.

The financial consultant must be proficient in the following technical aspects:

• Accounting management tools like ERP software
• Statistical and financial analysis
• Data & Artificial Intelligence
• Risk management
• Data acquisition, integration, and dissemination tools
• Enterprise Resource Planning (ERP)
• Technical English applied to finance
• Legal elements

As for personal qualities, a financial consultant should be:

• Insightful and able to anticipate events
• Meticulous
• Intellectually curious
• Passionate about numbers
• Able to quickly analyze available data
• • Team-oriented and able to collaborate with various professionals
• Flexible
• Discreet, with a strong sense of confidentiality

A financial consultant must hold at least a master's degree in finance. The more recognized the degree in the job market, the sooner they can aim for positions of responsibility.

A Master of Science from a prestigious business school can lead to an interesting job in France or abroad. The MSc in Financial & Business Performance offered by emlyon business school is an elite program open to those with a bachelor's degree and a solid academic background along with an ambitious project.

This MSc, certified by the Conférence des Grandes Écoles, opens the doors to an international, exciting, and stimulating career. With access to its powerful network, emlyon prepares you for excellence from your entry into the school.

A financial consultant can work in various industries under different legal statuses.

The clients of a financial consultant may be:

• Small and medium-sized enterprises
• Startups
• Large corporations

Indeed, all types of companies have financial needs. Similarly, all industry sectors, whether manufacturing, service companies, or financial organizations, require consultants in the field.

A financial consultant can become an employee, which is the most secure option. In this case, they will be integrated into a consulting team in a consulting firm. Their autonomy will be less than if they chose wage portage.

In wage portage, the consultant can develop their own client base while maintaining the job security inherent in employment.

Lastly, if they prefer complete autonomy, the consultant can work independently, either in their own name or by establishing a company. They can collaborate with other independent consultants, each with a different specialty, to meet a wide range of needs.

A financial consultant can leverage their expertise and knowledge in France or internationally, with interesting growth opportunities.

In France, the average salary of a financial consultant is around €55,000 gross annually at the beginning of their career, for those who have a degree sought after by recruiters. With experience, this salary can increase significantly, especially for those working independently or who manage to occupy management positions in audit firms.

The financial consultant profession is often better paid internationally, notably in the U.S. and the UK, where salaries can reach €100,000 gross after a few years of experience.

A typical financial consultant's career begins as an employee within an audit firm, climbing the ranks over time. They may then become a senior consultant, manager, senior manager, and finally partner if they have the desire and capability.

After a few years of experience, they may also consider wage portage or opening their own firm. If they wish to stay within an established structure, they can move toward roles such as Chief Financial Officer or General Manager in a large corporation, for example.

The daily life of a financial consultant, filled with priority management and interactions with collaborators, is particularly busy. They are often required to determine the most suitable financial products and services for their clients based on the individual’s financial goals and personal situation. A consultant's responsibilities may include providing personalized advice on topics like budgeting, asset allocation, or insurance needs.

The workload of a financial consultant can be particularly heavy. They must know how to organize and prioritize their tasks based on deadlines and situations. This requires a strong ability to balance various client demands and offer tailored financial advice efficiently. Some financial advisors, for example, may charge a fixed fee or have a fee structure that includes ongoing management, ensuring they meet client expectations. As an investment advisor or financial planner, they might also use their expertise to help clients manage their portfolio, create a comprehensive financial plan, and recommend actions based on professional certifications.

Financial consultants are in constant communication with clients and teams to adjust their work based on new constraints and the overall progress of the mission. Advisors typically offer both in-person and online consultations to meet the specific needs of their clients. Whether dealing with individual clients or businesses, the consultant’s role is to provide financial guidance that aligns with the client’s financial picture and long-term wealth-building goals.

They may recommend investment options like retirement accounts or insurance products that suit the client's needs. Advisors often work closely with financial professionals from banks or wealth management firms to provide comprehensive services.

The financial consultant profession is exciting for ambitious professionals ready to take on new challenges. The current context, though uncertain and full of disruptions, offers new opportunities, especially with the advent of new technologies such as robo-advisors, which allow for more automated and scalable financial planning services. Whether you're looking to help individuals with personal finance or work with large corporations on corporate finance strategies, this career offers vast potential.

Finance experts who can adapt to the economic situation and propose innovative solutions can thrive in a particularly stimulating career.