Finding the right sort of pension scheme can be confusing stuff for potential customers. Individuals want to know they are getting the right scheme for them which will generate the most money to support them in their retirement; employers want to offer the most suitable workplace pension scheme packages to their employees; pension providers want to sell the best deals to raise capital as a business. It’s the job of those working in pensions advisory roles to help these parties to achieve their goals.
Where are the jobs in pensions advisory?
Roles in this area exist with governmental bodies, namely The Pensions Advisory Service (TPAS). The type of work can typically involve providing information and advice to customers over the telephone on issues concerning state, workplace or private pensions.
There are also opportunities with pensions consultancy firms or insurance firms as pensions advisors or consultants. A pensions advisor or pensions consultant will usually liaise with clients (employers for the most part), find out their requirements for a pension scheme, advise on the best benefits to include if necessary, and will help to set up these schemes on behalf of the customer, manage the schemes, and keep them informed of progress and developments.
What do I need to work in pensions advisory?
As you might expect, strong communication skills are really important in this area as you’ll deal directly with clients on a daily basis, explaining their options to them and answering their queries. A knack for persuasion and a sales mind is also crucial as essentially you’ve got to sell the company’s packages to prospective clients, as is the ability to conduct research as you’ll have to keep up to speed with developments in the financial market and apply this knowledge to both your advisory work and scheme management work, sniffing out the best investments to grow the fund.
Related business-orientated degree disciplines are generally preferred in this line of work. Well established pensions advisors and pensions consultants can earn salaries in the region of £70,000 without commission.
For years I have studied American finance regulations. All the information in this blog is sourced from official or contrasted sources from reliable sites.
Salesforce Certified SALES & SERVICE Cloud Consultant in February 2020, Salesforce Certified Administrator (ADM-201), and Master degree in “Business Analytics & Big Data Strategy” with more than 13 years of experience in IT consulting.