Thursday, April 3, 2008

Northwestern Mutual Presents the Financial Services Sales Agents Orlando Industry Outlook

Orlando Sales JobsOn our trek towards the Getting U There Career Fair on April 17th, we are continuing to bring you the Orlando Industry Outlook presented by the Employment Guide To Careers. Today we take a look at Financial Services Sales Representatives. The industry is sponsored by Northwestern Mutual the "quiet company." I hope you get some great info and start to find the niche that excites you to change your life and your career into something you can be proud of. If this career or any other excites you, type it into the search bar on the top right of the page to see great job offerings from the Employment Guide right now!

Enjoy and happy hunting Orlando!

Nature of the Work
Financial services sales agents sell a wide variety of banking and related services. They contact potential customers to explain their services and to ascertain customers’ banking and other financial needs. In doing so, they discuss services such as loans, deposit accounts, lines of credit, sales or inventory financing, certificates of deposit, cash management, mutual funds, or investment services. They also may solicit businesses to participate in consumer credit card programs. Financial services sales agents who serve all the financial needs of a single affluent individual or a business often are called private bankers or relationship managers.

With deregulation of the financial services industry, the distinctions among sales agents are becoming less clear as securities firms, banks, and insurance companies venture further into each other’s products and services. The agents’ jobs also are becoming more important as competition between the firms intensifies.

Working Conditions
Financial services sales agents normally work 40 hours a week in a comfortable, less stressful office environment. They may spend considerable time outside the office, meeting with current and prospective clients, attending civic functions, and participating in trade association meetings. Some financial services sales agents work exclusively inside banks, providing service to walk-in customers.

Training and other Qualifications
Banks and other credit institutions prefer to hire college graduates for financial services sales jobs. A business administration degree with a specialization in finance or a liberal arts degree that includes courses in accounting, economics, and marketing serves as excellent preparation for this job. Often, financial services sales agents learn their jobs through on-the-job training under the supervision of bank officers. However, those who wish to sell mutual funds and insurance products may need to undergo formal training and pass some of the same exams required of securities sales agents.

Job Outlook
Employment of sales agents is adversely affected by downturns in the stock market or the economy. Turnover is high for beginning agents, who often are unable to establish a sizable clientele even in good times. Once established, securities and commodities sales agents have a very strong attachment to their occupation because of their high earnings and considerable investment in training. Competition usually is keen, especially in larger companies with more applicants than jobs. Opportunities for beginning sales agents should be better in smaller firms.

Employment of financial services sales agents in banks will increase as banks expand their product offerings in order to compete directly with other investment firms.

Story information courtesy of Bureau of Labor

Financial Sales Industry Outlook

If you have missed anything in this series, here are the links and re-cap:
Arts, Entertainment and Recreation
Medical Assistants
Dental Assistants
Construction Equipment Operators

-Greg Rollett


Jon Phelps April 4, 2008 at 4:29 AM  

Thanks for the information...this was actually very helpful as I have been looking to make a career change. I found your blog through this story and you have a ton of other great resources. I am sure I will spend a lot of time going through your past articles. Please keep doing what you are doing because it is a big help to those of us who are looking for a job...

Greg Rollett April 4, 2008 at 6:15 AM  

@jon Thanks for checking us out. We really appreciate the feedback. This blog is here for the job seeking community so anything that we can do to help is our main objective! I hope you subscribed so you can get all the great content sent right to your email or feed reader. Have a great weekend!

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