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Job Title: Financial Consultant   Date Posted: 11/15/24 Ref. Number: 213 Type: Full Time Part Time Location: Toronto Requirements: - Proficient in OneStream - Strong accounting and tax knowledge - Available to begin contract work with an opportunity for long-term growth Skills and Qualities of a Financial Consultant: Analytical Skills: Ability to assess financial data and market trends to provide well-informed advice. Communication: Strong verbal and written communication skills to explain complex financial concepts in an understandable way. Detail-Oriented: Careful attention to financial details, ensuring accuracy in planning, reporting, and recommendations. Ethical Judgment: Adherence to high ethical standards in managing clients' finances and handling sensitive information Description: 1. Client Consultation and Needs Assessment Initial Consultation: Meet with clients to understand their financial goals, objectives, risk tolerance, and current financial situation (e.g., assets, liabilities, income). Financial Health Assessment: Analyze clients' financial statements, credit reports, tax returns, and other relevant documents to identify strengths and weaknesses in their financial portfolio. 2. Financial Planning and Strategy Development Create Custom Financial Plans: Develop tailored financial strategies based on the client’s goals, such as saving for retirement, buying a home, managing debt, or funding education. Risk Management: Advise on insurance products (life, health, disability) and other tools to mitigate financial risks. Investment Planning: Recommend investment strategies and products (stocks, bonds, mutual funds, etc.) to help clients build and diversify their portfolios. Tax Optimization: Offer guidance on tax-efficient strategies for investments and asset management to minimize tax liability. 3. Investment Advice and Portfolio Management Investment Strategy: Provide expert recommendations on investment opportunities and asset allocation to achieve the client’s financial objectives. Portfolio Monitoring: Regularly review and update clients’ investment portfolios to ensure alignment with their financial goals and market conditions. Market Analysis: Keep clients informed on market trends, economic conditions, and investment opportunities to guide their decision-making. 4. Retirement Planning Retirement Goals: Help clients develop strategies to save and invest for retirement, considering factors like desired retirement age, lifestyle, and income needs. Retirement Accounts: Advise clients on retirement accounts (401(k), IRA, pension plans) and contribution strategies. Pension and Social Security: Guide clients in understanding pension options, Social Security benefits, and annuities to ensure financial security in retirement. 5. Debt Management and Savings Strategies Debt Reduction: Create debt repayment strategies for clients struggling with high-interest debt, credit cards, student loans, etc. Budgeting & Savings Plans: Develop monthly budgets and savings strategies to help clients reach short-term and long-term financial goals. 6. Estate and Legacy Planning Estate Planning: Work with clients to establish estate plans, including wills, trusts, and healthcare directives, to ensure wealth is passed on according to their wishes. Tax Implications: Advise clients on estate tax considerations and strategies to reduce tax burdens on heirs. 7. Ongoing Client Relationship Management Regular Check-ins: Schedule periodic meetings with clients to review their financial progress, address changes in their situation, and adjust strategies as needed. Client Education: Educate clients on financial concepts, investment strategies, and market conditions to empower them to make informed decisions. Retaining Clients: Provide excellent customer service to retain long-term clients and build a referral-based business. 8. Compliance and Regulatory Adherence Follow Industry Regulations: Ensure that all financial recommendations and strategies comply with relevant financial regulations and laws (e.g., SEC regulations, FINRA rules, tax laws). Maintain Certifications: Stay up-to-date with industry certifications (such as CFP, CFA) and continuing education to comply with professional standards. 9. Sales and Business Development Client Acquisition: Actively prospect new clients through networking, referrals, marketing, and partnerships with other professionals (e.g., attorneys, accountants). Client Proposals: Create and present proposals for new clients outlining services, fees, and financial solutions that align with their needs. Cross-Selling Services: Offer additional financial services such as insurance, tax planning, or investment management to existing clients. 10. Financial Reporting and Documentation Prepare Financial Reports: Generate comprehensive financial reports for clients, summarizing their financial status, portfolio performance, and progress toward goals. Maintain Documentation: Keep accurate records of client meetings, transactions, financial plans, and regulatory filings. Hours per week: 4-6 month contract 40 Rate of Pay: TBD Contact: Ramein Ayaz Telephone: 905-453-7896 Fax: 905-453-7894 Email: rayaz@jobskills.org