6 learning and development tools/courses for finance brokers

Monday 13th June 2022

To be an effective finance broker having a few tools at hand will help you to provide a valuable service to all your clients. There are many software apps, smart tools and courses available designed to help with your job and to improve your skills.

We have listed some of the best tools and courses that we think will help you give your clients an experience that suits them best.

Financial Planning

There are many different financial planning products to choose from to help you navigate your client’s complex finances. The software allows you to examine and evaluate a variety of financial options and see their likely effects before giving advice and providing solutions. Some require more simple solutions whilst others will have more analytical capabilities and robust management tools. By looking at the needs of the client and choosing the correct software, you will be more likely to meet the requirement for your clients at the right level.

Data Gathering

Creating a financial plan for your clients starts with gathering client’s data. The problem with collecting data is it can be tedious but it is extremely important to have - without good data, informed and accurate decisions are difficult to make. Data collection tools allow clients to input information easily and attach the necessary documents, the software will pull together the data, analyse the information and present it in user friendly formats

Investment analysis

Tracking and analysing investments for your clients can be complicated and time consuming. Investment analysis tools will help you to advise your clients to make good financial investments. The tools are designed to perform a wide variety of calculations and assessments that analyse market trends, investments and financial industries that will enable you to help your clients make better investment decisions. The tools you choose will depend on the complexities of your clients’ portfolio - some tools will allow you to offer deep insights whilst others will keep the analysis at a simpler level.

Financial Calculator

A financial calculator is a useful tool for a finance broker as they are designed to perform calculations geared towards the financial problems that are frequently needed in business. Most have stand-alone keys that calculate time value of money, cash flow and simple and compound interest, enabling you to calculate complex equations quickly and increase your efficiency as a finance broker.

Sales skills

Selling can be a tricky business but for a finance broker, having good sales skills is essential. A good selling technique involves mastering many skills.

Choosing the right sales course will help to enhance your selling skills by providing you with the tools required to communicate effectively across the many different communication platforms. It will show you how to tailor your approach to the type of audience you are trying to target, how to build and maintain relationships that will enable networking, and how to build a list of prospects that are appropriate for the area you work in. If you are confident in your approach, prospective clients are more likely to trust your advice which will help you to move from the initial sales meeting to signing them up as a new client.

Regulation and Compliance courses

In the world of finance there are an increasing number of regulations and compliancy requirements that must be adhered to. As a finance broker, being aware of and understanding these is essential. Regulation and compliance training can save you from future lawsuits and even from unknown risks, whereas not complying can be costly for you and for your career. Attending courses on Regulation and Compliance that provide information from the Financial Conduct Authority, show you how to handle complaints effectively and how the Financial Ombudsman Service operates is important for you to provide the best service to your client and to ensure that you aren’t breaking the law.

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