Complete Guide for How to Become a Financial Advisor

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If you have a passion for accounting and business, working in the financial industry could lead to a rewarding career. To get a job as a financial advisor. You generally need a bachelor’s degree. On-the-job training and either a license or a certification. In this article, we discuss how to become a financial advisor and share answers to some of the most frequently asked questions about this profession.

What does a financial advisor do?

Financial advisors help clients manage finances and meet financial goals. They provide advice on investing, estate planning, retirement planning and saving for large expenses, such as property or higher education. Financial advisors perform the following tasks:

  • Discussing financial goals with clients: Financial advisors typically begin working with clients by learning about their financial situation and objectives, such as savings timelines.
  • After that Developing financial plans: After learning about clients’ goals, financial advisors help clients plan for objectives, often by recommending investments.
  • Monitoring clients’ financial situations: Once they start working with a client, financial advisors track their investment portfolios to monitor performance and recommend changes when necessary.
  • Marketing services to clients: Financial advisors are often responsible for building their own client rosters, which requires attending events, teaching seminars and networking with potential clients.
  • Buying and selling financial products: Some financial advisors buy and sell stocks, bonds and other financial products on behalf of clients.

Average salary for financial advisors

Financial advisors usually work full time. Their earning potential depends on their experience level, their employer and their geographic location.

  • Common salary in U.S.: $66,891 per yearAdviser .707l.707.708a.5.5 0 00.707 0l9.594-9.595V9.5a.5.5 0 00.5.5h1a.5.5 0 00.5-.5v-6a.5.5 0 00-.5-.5h-6z”>
  • Some salaries range from $14,000 to $193,000 per year

How to become a financial advisor

These professionals are typically required to have a combination of finance-focused education, training and certifications. To get started in this industry, follow these six steps to becoming a financial advisor:


  • Earn a bachelor’s degree
  • Complete on-the-job training
  • Register as a financial advisor
  • Pursue professional certification
  • Cultivate key skills


1. Earn a bachelor’s degree

To work as a financial advisor, you need at least a bachelor’s degree. Although employers don’t always require a specific degree, they usually prefer candidates with one of the following majors:

  • Accounting: Pursuing this major helps you master concepts like financial planning, auditing, cost accounting and International Financial Reporting Standards (IFRS). Coursework can include classes on payroll accounting, financial statement auditing and business statistics.
  • Business: This major can prepare you for a successful career in financial administration. You can expect to take courses on business ethics, principles of finance and managerial finance.
  • Economics: Pursuing this degree allows you to learn about business administration, financial markets and economic theory. Coursework usually includes classes on macroeconomics, statistics and econometrics.
  • Then Finance: This degree can help you master concepts like securities, investments and financial management. You can expect to take classes on security valuation, investment portfolios and financial markets.

2. Create a resume

So After earning a bachelor’s degree, you can start looking for paid internships or entry-level positions in the financial field. to apply for internships or jobs, create a resume to share with potential employers in the financial industry. on your resume, highlight your degree, including your grade point average (GPA), any honors and important financial, accounting, economics or business coursework. After securing these early positions, you can include relevant internships or work experience on your resume when you apply for more advanced positions or when seeking clients.

3. Complete on-the-job training

When you get an entry-level financial advisor job, you typically have to undergo a training period. Most employers require you to work closely with senior advisors so you can learn more about the company’s workflow and standard operating procedures. During training, you also learn how to develop high-performing investment portfolios and build strong networks of clients. For financial advisors, this training period usually lasts for at least a year, and you can gradually work more independently as you gain experience.

Read more financial advisor:

4. Register as a financial advisor

if you advise clients about investments or buy and sell stocks and bonds on their behalf, you need to register with your state as a financial advisor. to apply for state registration, you have to pass one or both of the following tests, which the Financial Industry Regulatory Authority (FINRA) administers for the North American Securities Administrators Association (NASAA):

  • Series 63: Also known as the Uniform Securities Agent State Law Examination, this test is required for financial advisors who buy and sell stocks and bonds.
  • Series 65: Also known as the Uniform Investment Advisor Law Examination, this test is essential for financial advisors who provide investment advice.

In some cases, you may also have to register with the Securities and Exchange Commission (SEC), especially if you manage client investments for a large financial firm. This process usually requires online registration and a background check.

5. Pursue professional certification

There are a variety of voluntary professional certifications you can complete, and having one can increase your earning potential and help you attract a larger client network. The two most common certifications for financial advisors include:

  • Certified Financial Planner (CFP): The Certified Financial Planner Board of Standards offers this credential, which requires a bachelor’s degree, at least three years of work experience in finance, passing an exam and following a professional code of ethics.
  • Chartered Financial Analyst (CFA): The CFA Institute offers this credential. Which requires you to pass three specialized exams. Complete at least 4,000 hours of relevant work experience and submit references from professional connections.

6. Cultivate key skills

To succeed as a financial advisor, you should continually work to improve essential soft skills. You need strong analytical thinking skills to create effective investment portfolios. Excellent sales skills to grow your client roster and great interpersonal skills to cultivate trust among your clients.

To learn more about what it takes to work as a financial advisor, read the frequently asked questions below. What hours do financial advisors work?

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