All About Financial Services Sales Agents
Job Description & Duties Sell financial services, such as loan, tax, and securities counseling to customers of financial institutions and business establishments.
Life As a Financial Services Sales Agent
- Sell services or equipment, such as trusts, investments, or check processing services.
- Develop prospects from current commercial customers, referral leads, or sales or trade meetings.
- Make presentations on financial services to groups to attract new clients.
- Review business trends to advise customers regarding expected fluctuations.
- Evaluate costs and revenue of agreements to determine continued profitability.
- Prepare forms or agreements to complete sales.
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What a Financial Services Sales Agent Should Know
When polled, Financial Services Sales Agents say the following skills are most frequently used in their jobs:
Persuasion: Persuading others to change their minds or behavior.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking: Talking to others to convey information effectively.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Social Perceptiveness: Being aware of others’ reactions and understanding why they react as they do.
Types of Financial Services Sales Agent
- Money Manager
- Banker
- Finance Specialist
- Financial Services Sales Representative
- Sales Professional
Is There Going to be Demand for Financial Services Sales Agents?
In 2016, there was an estimated number of 375,700 jobs in the United States for Financial Services Sales Agent. New jobs are being produced at a rate of 6.2% which is above the national average. The Bureau of Labor Statistics predicts 23,200 new jobs for Financial Services Sales Agent by 2026. Due to new job openings and attrition, there will be an average of 38,000 job openings in this field each year.
The states with the most job growth for Financial Services Sales Agent are Arizona, Utah, and Iowa. Watch out if you plan on working in Massachusetts, New Jersey, or Maine. These states have the worst job growth for this type of profession.
Do Financial Services Sales Agents Make A Lot Of Money?
The typical yearly salary for Financial Services Sales Agents is somewhere between $34,360 and $208,000.
Financial Services Sales Agents who work in New York, South Dakota, or Connecticut, make the highest salaries.
How much do Financial Services Sales Agents make in different U.S. states?
| State | Annual Mean Salary |
|---|---|
| Alabama | $82,810 |
| Alaska | $101,290 |
| Arizona | $72,750 |
| Arkansas | $74,490 |
| California | $81,610 |
| Colorado | $76,160 |
| Connecticut | $122,890 |
| Delaware | $87,390 |
| District of Columbia | $103,380 |
| Florida | $82,810 |
| Georgia | $77,000 |
| Hawaii | $85,660 |
| Idaho | $62,690 |
| Illinois | $91,640 |
| Indiana | $92,400 |
| Iowa | $75,380 |
| Kansas | $107,500 |
| Kentucky | $85,420 |
| Louisiana | $89,550 |
| Maine | $81,670 |
| Maryland | $97,570 |
| Massachusetts | $118,310 |
| Michigan | $79,320 |
| Minnesota | $104,570 |
| Mississippi | $78,220 |
| Missouri | $80,280 |
| Montana | $89,270 |
| Nebraska | $86,920 |
| Nevada | $70,480 |
| New Hampshire | $98,030 |
| New Jersey | $98,850 |
| New Mexico | $56,380 |
| New York | $161,580 |
| North Carolina | $88,810 |
| North Dakota | $100,060 |
| Ohio | $77,960 |
| Oklahoma | $78,220 |
| Oregon | $66,120 |
| Pennsylvania | $86,970 |
| Rhode Island | $100,390 |
| South Carolina | $75,120 |
| South Dakota | $113,460 |
| Tennessee | $75,610 |
| Texas | $85,720 |
| Utah | $71,460 |
| Vermont | $105,770 |
| Virginia | $90,410 |
| Washington | $79,930 |
| West Virginia | $83,930 |
| Wisconsin | $77,780 |
| Wyoming | $70,030 |
What Tools & Technology do Financial Services Sales Agents Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Financial Services Sales Agents:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Data entry software
- Email software
- Word processing software
- Spreadsheet software
- Microsoft SharePoint
- Microsoft Dynamics
- IBM Notes
- FileMaker Pro
- Oracle PeopleSoft
- Scheduling software
- Salesforce software
- IBM Cognos Impromptu
- Oracle E-Business Suite Financials
How to Become a Financial Services Sales Agent
Individuals working as a Financial Services Sales Agent have obtained the following education levels:
How Long Does it Take to Become a Financial Services Sales Agent?
Where Financial Services Sales Agents Work
Financial Services Sales Agents work in the following industries:
Similar Careers
Those thinking about becoming a Financial Services Sales Agent might also be interested in the following careers:
- Marketing Managers
- Sales Engineers
- Treasurers and Controllers
- Financial Examiners
- Public Relations and Fundraising Managers
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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