What is financial consulting?

Financial consultancies are made up of licensed professionals who are trained to help others make intelligent financial decisions. Companies requiring expertise in accounting, finance, insurance and other aspects of finance will hire a financial consultancy to advise them.

Individuals hire financial consultants, also known as financial advisers or analysts, for advice on managing their investments, property holdings and long-term financial plans. These consultants are slightly different to large financial consultancy firms and are often known as investment consultants. Investment consultants stay up to date with the markets and use their expertise to advise clients on their investment portfolios.

The work

The specialist advice offered by financial consultancies can include:

  • The installation of budgetary control systems
  • Profit planning
  • Capital and revenue budgeting
  • Industry trends
  • Office reorganisation and administrative arrangements.

Investment or personal financial consultants offer services including:

  • Investment advice
  • Taxation planning
  • Income management
  • Risk assessment
  • Long-term planning.

The people

Typically financial and investment consultants have a background in accounting, finance, insurance or business management. They have a head for numbers and an interest in financial affairs.

Consultants who join the profession later in their careers usually come from a finance background with 10-15 years’ experience.

Employee profile

Consultant - Accenture

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