Stocks, bonds, interest rate models: Anyone who is not very familiar with investing would be grateful for help. Then financial advisors like Angelika Hoell come into play. In the job log she explains what her job is all about.

Financial advisors only have extremely rich clients who don’t know what to do with all the money? Are you kidding me? Are you serious when you say that! People receive advice regardless of their income – on all financial matters.

Whether it’s about building financing, retirement planning, wealth creation or insurance: financial advisors like Angelika Hoell from Neuss keep an eye on everything for their customers.

In the job log, she talks about her career change, what she can and cannot do as a financial advisor – and she explains what else speaks for the job in addition to the good salary.

In a detour: Decades ago, as a customer, I was dealing with a financial advisor that my neighbor had recommended to me. At the time, I considered myself to be very informed about investment options.

However, the financial advisor told me things that I didn’t know. For example, investment savings. This strategy was not explained to me by my financial institution at the time.

I found it exciting to see through the financial advisor what options there are to build wealth. Somehow I became interested in the profession. The financial advisor suggested that I try out the profession on the side.

That’s how it all started. I have now been a self-employed financial advisor for 35 years – and I still do the job with great passion and enthusiasm.

I’m actually a trained druggist, but I’ve never practiced this profession. I worked in a furniture store, a family business – first at the reception, later I planned kitchens with customers.

But the topics of money and taxes have always fascinated me. That’s why I also completed training as a financial accountant.

When I decided that I wanted to work as a financial advisor, I completed further training in this profession and passed an exam. Later I started my own business. I have been a director for 20 years now.

Of course I have a lot of meetings with employees and customers. When I have a new customer, I first assess his or her financial situation in a personal conversation. What money and assets are there?

What goals does the customer pursue? What about retirement planning? How does he or she generally deal with money? Which insurances are there and which are not?

After the conversation, I go to my office and review everything. I then design a financial and insurance strategy that includes risk prevention, financing or asset accumulation. In another personal conversation, I explain the strategy and show various options and financial products.

If customers have any questions, I’m there for them. I advise you throughout your life, whether by telephone, online or in direct conversation. I also advise people comprehensively on how to prepare for their own death. I always notice that many survivors of a death in the family are completely at a loss as to what will happen next financially.

I bring real added value to people with my consulting work, which makes me very satisfied. At the same time, I earn very well and can also organize my time freely. What makes me particularly happy is that I can train people for this profession and thus give them the same professional opportunity that I had 35 years ago.

I can give tips and advice on all financial matters, but I cannot make decisions for customers. I always explain to customers that certain things are simply necessary: ​​putting money aside, building up reserves, making early provisions in the event of occupational disability or old age. The challenge of the future for many people will be that they will live longer than their money lasts.

Some people would rather spend money instead of saving – they are literally seduced into consuming by advertising. I then give the tip that you can divide the money every month: part for living costs, part for insurance and pensions, part for saving and part for consumption.

The part that is for consumption goes into an extra account. If this money is used up for one month, you have to wait until the following month to consume it. This is how you learn discipline when it comes to money.

The job title financial advisor is not protected. Wealth or financial advisors are often career changers. There are many training and further education opportunities, both school/academic and company-based.

According to the Federal Association of German Financial Advisors, many people choose the IHK training course to become a businessman for insurance and finance for their initial training. At some institutes, financial advisors receive a certificate upon completion.

Many financial advisors are self-employed, but they can also work as employees, for example at credit institutions or trust and fund companies. Depending on the field and scope of activity, independent consultants need a special business license.

According to the Federal Employment Agency’s salary statistics, the median salary for financial advisors is 6,595 euros gross per month. Earnings always depend on professional experience – and, for example, whether someone works full-time or part-time.