Financial Adviser AIFA: Everyday Banking (FAIS)

absa; Caledon; On-site; ZAR 180,000 - 320,000; Full time

Job summary

Absa is seeking a FAIS licensed financial adviser in the Western Cape to execute financial planning steps, conduct Financial Needs Analyses, and recommend Absa-approved products to meet client needs. You will build professional relationships with clients and stakeholders and ensure compliance with regulatory requirements.

You will regularly review client needs, update strategies, and work within Absa's bancassurance framework to identify opportunities, generate leads, and meet growth targets.

Qualifications

• FAIS license required to provide financial advice.
• Ability to conduct Financial Needs Analysis (FNA) for investments, life insurance and estate planning.
• Proven ability to assess client needs and propose appropriate Absa products.
• Strong relationship-building and networking skills.
• Compliance with FAIS regulations.

Responsibilities

• Establish and maintain professional relationships with clients, bank personnel, product providers and adviser support staff.
• Assess client needs using recommended needs analysis tools to explain Absa's value proposition.
• Prepare recommendations and quotes for risk and investment solutions.
• Present recommendations while following FAIS regulations and Absa processes.
• Provide regular updates to Regional Manager on progress and outcomes.
• Network with stakeholders in Everyday Banking to position Absa Advisers' value.
• Meet sales and/or growth targets through proactive client engagement.
• Use Avalon/FAIS tools to perform comprehensive client analyses.
• Obtain client consent and complete necessary compliance documentation.

Skills

FAIS licensed

Financial needs analysis

Client relationship management

Sales / pipeline management

Education

FAIS accreditation or qualification

Tools

Avalon tool

Job description

Empowering Africa's tomorrow, together...one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

• To follow the six steps of financial planning in executing the role of a FAIS licensed financial adviser. A professional introduction must be made to introduce the adviser and the services offered by the adviser. Upon client approval the adviser may conduct a Financial Needs Analysis (FNA) in the disciplines of Investment, Life Insurance and Estate planning. Based on the concluded FNA to make recommendations
• To address single or multiple needs identified on behalf of the client. Advice recommendations will must be presented under the license categories for which the adviser is accredited Absa approved product(s) that are deemed will meet the needs of the client. On client acceptance of all or part of the advice, the adviser is required to implement the accepted advice through Absa's new business processes.
• The adviser must conduct regularly review of the client needs to assess continued suitability of implemented solutions. In these reviews, new needs may be addressed and changes to existing plans be proposed to ensure continued solutioning of client needs.
• Adviser must continue to ensure ongoing Fit and Proper status to enable them to offer services under an Absa advice license.

Job Description

Key Accountabilities:

Accountability: To establish and maintain a professional relationship with all stakeholders (Client, Bank personnel, product providers and Adviser Support staff) Participate in reciprocal leads activities and sales/pipeline meetings to identify opportunities for new or repeat business, and fully utilising Absa's bancassurance structure.

Assess client's needs through use of recommended needs analysis tools, ensuring that the client is aware of the full value proposition offered by AIFA.

Prepare recommendation and quote for appropriate risk and investment solutions based on the client's individual needs and profile.

Present recommendation to clients, ensuring that all FAIS regulations are followed regarding advice given.

Follow all the steps in the designated client engagement process as specified by Absa Advisers.

Provide regular feedback to the Regional Manager on actions taken to progress the lead to business.

Network, on an ongoing basis, with all stakeholders in Everyday Banking (PGM's and Regional Managers) and elsewhere by attending their meetings and social gatherings to position the Absa Advisers' value proposition to the Bank and to the clients

Accountability: Meet sales and/or growth targets Do activity planning by identifying the clients to be approached/contacted during a particular period in conjunction with Everyday Advice Executive.

Using the leads information provided by the source and or Regional Manager listings, as well as leads sourced through own prospecting activities and determine the client's financial needs.

Make exclusive use of Absa's Financial Needs Analysis tool (Avalon from Aug 2024 onwards) to conduct a comprehensive Financial Needs Analysis for the client.

Obtain the client's consent to access his/her existing policy information by getting him/her to sign the relevant documents to get a comprehensive view of the client's financial needs.

Discuss various possible solutions and options available with the client and thereafter recommend the most appropriate products and or solution(s) to address financial needs.

- Generate and discuss a formal recommendation including product quote(s) for the client. On acceptance of part or all the advice recommendations, complete the necessary product application forms and ensure that the client signs the forms to indicate his/her consent to engage in a transaction(s).

Gather, generate, and complete all the necessary compliance documentation (e.g., Client Advice Record, copy of ID, Financial Needs Analysis, FICA).

Submit the proposal forms to the relevant product providers for processing.

Ensure that the issued policy aligns to the recommended product.

Review the client's portfolio at a minimum of once a year and contact the client based on the adviser and client agreed contact strategy to maintain a healthy client relationship.

Provide a report back to the Regional Manager and Everyday Banking stakeholders on the strike rate (i.e., the number of leads provided that were converted to business) where applicable.

Seek business opportunities from external sources as necessary to grow the book of business and reciprocate leads to Regional Managers and PGM's.

Accountability: Manage own commission earnings Capture the correct Policy Relevant Information (PRI) number on the Commission system.

On a monthly basis, check the accuracy of the commission stat