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The role of a financial advisor can include areas that many people may not expect.
The truth is that a financial advisor is not just someone who helps in investing. Quite often, the job is to assist with every aspect of a client’s financial life.
Advisors use their expertise to create a personalized financial plan to help the client realize their goals. The same advisor can also leverage his skills to work with a client to manage their human capital to earn income and build wealth.
This is a key because human capital is essentially the future earning power that a person has given up in his career. I believe it is my responsibility to help clients increase their human capital and plan for it so that its transformation into financial capital is optimized.
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Of course, steady income building is an essential piece of money. When a customer experiences a job loss, the impact on their financial life can be dramatic. The coronovirus epidemic has hit many of my clients very hard. Because of our established trust, many clients have trusted me, hoping that my expertise can help them evaluate their job options and guide them to solutions.
When I am not taking up a job as a career coach, I am suggesting clients to navigate the changing job market. My role is to help clients set up their finances to achieve their dreams, and – due to epidemics – that include answering questions surrounding job losses.
Prior to the epidemic, various studies concluded that 85% of jobs were filled through networking. Kovid-19 has eliminated all-in-one networking opportunities, making it an important route to find employment.
Customers are also struggling to crack the code of the hidden job market. It is no secret that many posts are filled without ever being advertised. Recruiters have begun searching for their candidate within their existing network, with the hidden job market proving that word of mouth can make or break your search.
My experience in the financial industry has taught me that successful networking is not about meeting as many people as possible. Instead, you are better off targeting key contacts to meet really well connected people.
At that point, 47% of companies use social media to attract employees, according to a jobweight recruiter nation survey. Even networking events have gone online.
Although in-person networking may be a thing of the past (at least for now), social media and virtual networking present ample opportunities for job seekers – and I am sharing tips with my clients on how one Be comfortable with creating virtual versions of theirs.
I try to suggest to my clients who are searching for jobs during the Kovid-19 epidemic. The use of social media and online events by potential employers means that job seekers must clean up their online presence and practice their video skills to expand their virtual network. If they do so, it can increase their chances of landing in an open position.
I urge my clients to pay full attention to social media. Creating a strong social media presence is the first step. Facebook, Instagram and Twitter are popular platforms that can help my clients connect with people they know. However, LinkedIn is where the magic happens. LinkedIn is my favorite recommendation when I listen to someone looking for a job.
Even former President Barack Obama once jokingly said during a TV press conference that he would join LinkedIn to help give him a job after his term was over.
Hiring managers and employers use LinkedIn to source talent. At that point, 87% of recruiters use LinkedIn as part of their candidate search, according to a Jobweight Recruiter Writer poll.
It is best to start with people you know. If my clients contact me about losing their job, I encourage them not to feel embarrassed and reach out to their friends and family to let them know that you are looking for a job. Send a connection request to Facebook or LinkedIn, and be sure to add a personal note.
Another piece of advice that I provide to my clients is to look at the alumni network that you have forgotten and get in touch with former classmates and co-workers. It can help you get a referral to a position in the hidden job market that is opening up.
Business organizations are another excellent source for networking. Connecting and connecting with people in a professional association allows you to join (virtual) events within your area and meet others. You can also connect with members who know about companies that are hiring and can arrange a job interview for you.
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Video skills are also very important these days. When it comes to honing those video skills, I ask clients to practice, practice, practice.
Why? Because now a lot of business conversations and events are happening online.
Above all, I suggest clients to get comfortable using video and test their technique. Proper attire is also important – dress as you would for a person interviewed. If you lack video experience, practice with a spouse or friend, so you’ll be more relaxed during the virtual interview.
Just as financial investment requires time to grow, job searching will not happen overnight.
A lot has changed this year. Employers and their human resources departments are still facing epidemics and economic downturns. In addition, many firms are dealing with existing staff changes and this may cause prolonged feedback when applying for open positions.
This means that the job search and hiring process may take a little longer than normal. So I have encouraged my clients to be patient but there is continuity in their efforts.