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All About Financial Services Sales Agents

Career Description Sell financial services, such as loan, tax, and securities counseling to customers of financial institutions and business establishments.

Life As a Financial Services Sales Agent

  • Determine customers’ financial services needs and prepare proposals to sell services that address these needs.
  • Contact prospective customers to present information and explain available services.
  • Review business trends to advise customers regarding expected fluctuations.
  • Make presentations on financial services to groups to attract new clients.
  • Evaluate costs and revenue of agreements to determine continued profitability.
  • Develop prospects from current commercial customers, referral leads, or sales or trade meetings.

What Skills Do You Need to Work as a Financial Services Sales Agent?

Financial Services Sales Agents state the following job skills are important in their day-to-day work.

Persuasion: Persuading others to change their minds or behavior.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking: Talking to others to convey information effectively.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Types of Financial Services Sales Agents

  • Financial Services Agent
  • Wholesale Account Executive
  • Investment Officer
  • Sales Consultant
  • Financial Specialist

Financial Services Sales Agent Job Outlook

There were about 375,700 jobs for Securities, Commodities, and Financial Services Sales Agents in 2016 (in the United States).

New jobs are being produced at a rate of 6.2% which is lower than average. The Bureau of Labor Statistics predicts 23,300 new jobs for Financial Services Sales Agents by 2026. Due to new job openings and attrition, there will be an average of 38,000 job openings in this field each year.

Forecasted Number of Jobs for Financial Services Sales Agents in U.S.

The states with the most job growth for Securities, Commodities, and Financial Services Sales Agents are Texas, Florida, and California.

Watch out if you plan on working in Massachusetts, New Jersey, or Maine. These states have the worst job growth for this type of profession.

Average Financial Services Sales Agent Salary

The typical yearly salary for Securities, Commodities, and Financial Services Sales Agents is somewhere between $34,360 and $208,000. A Financial Services Sales Agent median salary is $64,120.

Salary Ranges for Financial Services Sales Agents

Below is a list of the median annual salaries for jobs of this type in different U.S. states.

Annual Mean Salary by State
State Annual Mean Salary

New York

$161,580

Connecticut

$122,890

Massachusetts

$118,310

South Dakota

$113,460

Kansas

$107,500

Vermont

$105,770

Minnesota

$104,570

District of Columbia

$103,380

Alaska

$101,290

Rhode Island

$100,390

North Dakota

$100,060

New Jersey

$98,850

New Hampshire

$98,030

Maryland

$97,570

Indiana

$92,400

Illinois

$91,640

Virginia

$90,410

Louisiana

$89,550

Montana

$89,270

North Carolina

$88,810

Delaware

$87,390

Pennsylvania

$86,970

Nebraska

$86,920

Texas

$85,720

Hawaii

$85,660

Kentucky

$85,420

West Virginia

$83,930

Florida

$82,810

Alabama

$82,810

Maine

$81,670

California

$81,610

Missouri

$80,280

Washington

$79,930

Michigan

$79,320

Mississippi

$78,220

Oklahoma

$78,220

Ohio

$77,960

Wisconsin

$77,780

Georgia

$77,000

Colorado

$76,160

Tennessee

$75,610

Iowa

$75,380

South Carolina

$75,120

Arkansas

$74,490

Arizona

$72,750

Utah

$71,460

Nevada

$70,480

Wyoming

$70,030

Oregon

$66,120

Idaho

$62,690

New Mexico

$56,380

What Tools & Technology do Financial Services Sales Agents Use?

Below is a list of the types of tools and technologies that Financial Services Sales Agents may use on a daily basis:

  • Microsoft PowerPoint
  • Oracle PeopleSoft
  • Oracle Hyperion
  • Microsoft Outlook
  • IBM Notes
  • Oracle PeopleSoft Financials
  • Microsoft SharePoint
  • Microsoft Word
  • Fund accounting software
  • Microsoft Access

How to Become a Financial Services Sales Agent

Education needed to be a Financial Services Sales Agent:

Financial Services Sales Agent Degree Level

How many years of work experience do I need?

Financial Services Sales Agent Work Experience

Who Employs Financial Services Sales Agents?

Financial Services Sales Agent Sectors

Those interested in being a Financial Services Sales Agent may also be interested in:

  • Marketing Managers
  • Sales Engineers
  • Treasurers and Controllers

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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