Financial Consultant

Financial Consultant vs Insurance Agent

Insurance Agents
  •      Represent single brand company, limited product range
  •      Product from one single company, higher intention for product-selling approach and might overlook customers’ genuine needs
  •      Focus on whether the products could be successfully sold or not, try to convince customers not to make any comparison
  •      Commission is the main source of income
Financial Consultants
  •      Represent customers with more impartial role – to compare benefit coverage, risk and return, terms and conditions, premium amount etc
  •      Needs-selling approach – fully utilize different product mix to formulate the best financial solution
  •      Focus on whether customers’ finance problems and whether the objectives can be achieved or not, usually will do comparison for customers
  •      Apart from commission, there’s additional source of income from management fee and advisory fee

Career Path