Client Associate Job Description

Client associates work with financial advisers to provide administrative support, assist customers with new or existing accounts, and establish new portfolios. This job involves a variety of tasks such as resolving client inquiries, developing relationships with clients, monitoring account activities through different house portfolio systems, and providing customized reports. This is typically a full-time, in-house position; client associates work as part of a larger team in an office setting. This job is well suited to people with business and mathematical knowledge, and great written and verbal communication skills.


Client Associate Duties and Responsibilities

Client associates may work for various organizations requiring different duties and responsibilities. Based on job listings we analyzed, client associates’ duties typically involve:

Establishing Customer Portfolios

As the main contact for customers, building strong relationships and rapport is vital for client associates. They provide support for the client’s account needs, answering questions they may have and providing training if necessary.

Providing Administrative Support

Client associates carry out administrative tasks for the financial advisers, such as maintaining client account information and assisting with special projects and urgent account tasks.

Communicating with Clients

Client associates communicate with customers and associates in person, on the phone, and via e-mail. They open new accounts for customers, establishing new customer portfolios. Client associates also provide support for existing customers and portfolios, staying in regular contact with their clients.

Assisting and Educating Clients

Client associates explain account services and their capabilities, guiding clients to the products or services best suited to their needs. Collecting the necessary documentation, client associates ensure new accounts are set up properly.

Carrying Out Competitor Analysis

Client associates collect and analyze competitor data and client usage to find new business opportunities and to develop relationships with prospective clients.


Client Associate Skills and Qualifications

Client associates have excellent organizational skills. Typically, employers require an associate’s or bachelor’s degree in a relevant subject, as well as previous clerical experience and the following abilities:

  • Problem-solving abilities -to resolve inquiries and complaints professionally and to prioritize issues
  • Customer focus – to grow the client base, establishing new customer portfolios and to provide excellent service to clients
  • Numerical aptitude – to deal with data, from maintaining account information to generating reports
  • Teamwork – client associates help financial advisors with projects and tasks, and work with colleagues to meet team goals, coordinating with sales teams to grow the customer base
  • Computer skills – to use programs such as Microsoft Office to create reports and carry out administrative tasks


Client Associate Education and Training

No formal education is required to become a client associate, although employers typically prefer applicants to have an associate’s or bachelor’s degree in a business or finance-related field. Prior clerical or banking experience is necessary for this job, as well as Series 7 and Series 63 licenses, though this varies by state and institution. Most of the skills required can be learned through on-the-job-training.


Client Associate Salary and Outlook

The median annual salary for client associates is $48,000, according to PayScale. Client associates in the 10th percentile earn around $39,000 a year, while the highest-paid earn $63,000 a year. Bonuses and profit sharing opportunities make up to $15,000 and $20,000 respectively.
Location is the biggest factor influencing pay for this job. The majority of companies provide health benefits for this position, including dental and medical coverage. The Bureau of Labor Statistics predicts that the growth rate for financial clerks will grow by nine percent through 2026.


Helpful Resources

We’ve collected some of the best resources to help you learn more about a career as a client associate:

The Challenger Sale – This book provides the secrets to sales success, from the skills and behaviors needed to succeed to the attitude that matters most for the best performance. Based on a study of countless real-life experiences, this book is a must for anyone working with customers and trying to build profitable relationships.

The Supernova Adviser – From client services to client acquisition, this book outlines how this highly successful model can be used to create a great client experience and grow businesses efficiently.

Financial Adviser Network – This LinkedIn group, with more than 17,000 members, was created for financial advisors to share ideas and vital resources with their global colleagues. For client associates looking to build their knowledge of their industry, this is a useful group to be a part of.

Business Insider – The only site needed for all things business, finance, and the economy, this website has a wealth of up-to-date news articles and thought pieces on today’s financial climate. For anyone working in the financial sector, this site is a must-read.


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