Financial Adviser AIFA (FAIS)

Absa Group; Bloemfontein; On-site; ZAR 30 000 - 60 000; Full time

Job summary

Join a forward-thinking financial institution as a licensed financial adviser, where you will play a key role in empowering clients through personalized financial planning and investment advice. This position offers the chance to build lasting relationships while ensuring compliance with industry regulations. You will conduct thorough Financial Needs Analyses, present tailored solutions, and contribute to the growth of the business. With a commitment to personal development and ongoing training, this role is perfect for individuals passionate about making a difference in clients' financial futures. Be part of a dynamic team that values integrity and client success.

Qualifications

• Experience in financial planning and advising clients on investment and insurance.
• Strong understanding of compliance regulations and financial products.

Responsibilities

• Establish professional relationships with clients and stakeholders.
• Conduct Financial Needs Analysis and present tailored recommendations.
• Meet sales targets and manage commission earnings effectively.

Skills

Financial Planning

Client Relationship Management

Sales and Growth Strategies

Financial Needs Analysis

Compliance and Regulation Knowledge

Education

Bachelor’s Degree in Accounting

Grade 12 (Senior Certificate)

Tools

Avalon

Job description

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

With over 100 years of rich history and a strong regional and international presence, 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. The adviser must introduce themselves professionally and outline the services offered. Upon client approval, conduct a Financial Needs Analysis (FNA) in Investment, Life Insurance, and Estate Planning. Make recommendations based on the FNA to address the client's needs, ensuring recommendations are within the adviser’s license categories and using Absa-approved products. Obtain client acceptance and implement advice through Absa’s processes. Regularly review client needs to ensure continued suitability and maintain ongoing compliance and professional standards.

Job Description

Accountability: Establish and maintain professional relationships with stakeholders (Clients, Bank personnel, product providers, Support staff).

1. Participate in lead activities and meetings to identify new or repeat business opportunities, leveraging Absa’s bancassurance structure.
2. Assess client needs using recommended analysis tools, ensuring clients understand the full value proposition.
3. Prepare recommendations and quotes for risk and investment solutions tailored to client needs.
4. Present recommendations, adhering to FAIS regulations.
5. Follow the designated client engagement process as specified by Absa Advisers.
6. Provide feedback to the Regional Manager on lead progression.
7. Network with stakeholders across the bank and attend meetings to promote the adviser’s value proposition.

Accountability: Meet sales and growth targets

1. Plan activities by identifying clients to approach, in conjunction with the Advice Executive.
2. Use provided leads and prospecting to determine client needs.
3. Conduct comprehensive Financial Needs Analysis using Avalon (from August 2024).
4. Obtain client consent for policy information access.
5. Discuss solutions with clients and recommend suitable products.
6. Generate formal recommendations and quotes.
7. Complete and submit application forms upon client approval.
8. Ensure all compliance documentation is completed and submitted.
9. Review client portfolios annually and maintain contact as per strategy.
10. Report on conversion rates and seek external business opportunities to grow the book.

Accountability: Manage own commission earnings

1. Capture correct Policy Relevant Information (PRI).
2. Verify accuracy of monthly commission statements and reconcile PRI numbers.
3. Update client database with new clients and follow up on premiums and lapses.

Accountability: Practice Management

1. Ensure staff understand their roles and provide necessary training.
2. Coach and mentor assistants, participate in performance reviews, and take corrective actions as needed.
3. Maintain compliance records and complete required exams.
4. Remain fit and proper for FAIS roles and provide feedback on income and cross-selling opportunities.
5. Segment clients and engage in business development strategies to maximize practice sustainability.

Accountability: Personal Development

1. Attend training to maintain accreditation and FAIS compliance.
2. Maintain Fit and Proper status with integrity and financial solvency.

Education

Bachelor’s Degrees and Diplomas in Accounting, or Grade 12 (Senior Certificate/Matric).

Absa Bank Limited is committed to equal opportunity and diversity. We reserve the right not to fill the position if suitable candidates are not identified.