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What is an IFA Administrator – and how this role can kick start your career in Financial Services!

Interested in starting a career in financial planning? Then working as an Independent Financial Advisor (IFA) Administrator will give you the necessary knowledge and experience to kick start a move into different areas of the finance sector. 

So, what is an IFA administrator?

An IFA administrator deals with lots of administrative tasks and responsibilities, assisting the IFA’s and paraplanners in the office.

Key responsibilities of an IFA Admin could include:

  • Excellent communication and organisation between clients and colleagues are crucial.
  • To act as liaison between the partner, provider and clients ensuring that the advice journey experience for clients and partners are positive and efficient.
  • Maintain all internal systems ensuring the accuracy and integrity of client data and that all tasks and activities are completed in line with company policy and procedures.
  • Working alongside financial advisers to obtain information as part of the process of creating financial reports.
  • Creating and presenting suitability letters to financial advisers, with a focus on the specific company policy and current regulations.
  • Supporting additional needs on behalf of IFA’s such as gathering extra information on processes that could benefit the client.
  • Carrying out duties in accordance with the rules and regulations set out by the Financial Conduct Authority.

Skills & Qualifications to become an IFA Administrator

  • It may be advantageous to have some experience of working within the financial services industry.
  • A keen interest to learn and work towards the Level 4 Diploma in Financial Planning would attract an employer, some will fund this.
  • Strong interpersonal, communication and customer service skills.
  • Excellent diary management, planning and organisational skills.
  • Excellent accuracy and attention to detail.
  • Proven ability to work on own initiative.
  • Excellent telephone manner.
  • Proven high level of customer service.
  • Good working knowledge of Microsoft office systems.
  • Knowledge of Intelligent Office database would be an advantage.

(Tip – if you’d like more knowledge how the role of an IFA Administrator works, consider a financial service apprenticeship such as Financial Services Administrator, Level 3 – which is ideal for candidates beginning an entry level role in the financial sector. It’s perfect for both large and SME advice firms)