1. Communication Skills

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In finance, it’s all about the numbers; except when it’s not, and your words are what makes the numbers leap off the page.

As a CFA you will frequently need to translate complex investment strategies, financial models, and risk assessments to clients, management, and even non-finance employees.

Communication Essentials Some of the key elements of communication that must be present are:

• Simplifying Complex Ideas:

Ability to simplify complex financial concepts for easy understanding.

• Active Listening:

Actually, listening to what the client wants and working towards an appropriate response rather than just trying to shove technical up-him/her/them.

• Presentation Skills:

Prepare and present compelling reports, pitches and recommendations that resonate with audience(s).

Tip: Practice storytelling. They value the hell out of someone who can tell a good story with hard numbers.

2. Critical thinking and reasoning Problem solving and reasoning

All investment decisions carry a risk of loss.

To do well, CFA professionals should have great critical thinking skills; the ability to analyse situations, question assumptions, and come to an informed decision.

Critical thinking includes:

• Analysis of Alternative Scenarios:

What could go wrong? What are the best case and worst case?

• Conventional Wisdom Under Scrutiny:

Taking nothing at face value and verifying with do your own research and logic.

• Making Rational Decisions:

Data driven and emotionally unbiased while recommending.

Tip: Exercise structured thought about investment problems by conducting frequent “what if” exercises.

3. Emotional Intelligence (EQ)

If IQ gets you through the CFA exams, EQ is going to help you make the most of your career. Emotional Intelligence is the ability to recognize, understand and manage your own emotions as well as others.