Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

How to Become a Financial Advisor

Career News August 23, 2013

Becoming a financial advisor is not often a choice a person makes while still involved in formal studies. More often than not, it’s a career change. People who have discovered they were extremely good at balancing their check-books, investing in stocks and bonds, filing taxes are among the most likely to decide on the attractiveness of a career as a financial advisor. There are a couple of reasons for this. You need to gain some life experience to successfully launch a career as a financial advisor. You also need to realize that once you have chosen this occupation, you are basically a business. You must sell yourself and your abilities.

College Degrees and Study Subjects

Financial advisor and financial planners are interchangeable terms. There are two main sectors that hire financial advisors; banks and insurance companies or brokerage firms. The job of a financial advisor is to provide advice for investment strategies such as bonds, stocks and mutual funds, and in assisting home owners with financial planning to meet future goals, such as advanced education for their children, retirement and vacations.

It’s best to have a college degree, with comprehensive studies in finance, accounting, economics, mathematics and computer science. It’s also a good idea to take courses in psychology. You will be working with clients, many of whom feel uncertain or dysfunctional in matters involving money. Your major, however, will not be nearly as important as demonstrating your ability to stick with the disciplines of advanced courses and meeting deadlines.

If you want professional certification, such as a CFP (Certified Financial Planner) or CFA (Chartered Financial Advisor), you need a four year degree for licensing. Around 300 colleges and Universities have programs that will help you prepare for licensing.

Work Details and Other Opportunities

Work experience can be found through an internship or an entry-level job with a bank or brokerage. There are many large investment companies that will offer complete training programs, helping you acquire the experience needed to pass your licensing exam. These programs are highly competitive, but if you can get into one, it’s well worth the effort. Trainees can average between $3,000 and $6,000 a month, with top advisors earning as high as $350,000 a year.

You can also become a Registered Investment Advisor, which is a consultation based. Investment advisors manage portfolios and receive compensation for providing financial advice. If the portfolio you are managing contains assets of less than $100 million, you must register with your state securities agency. For portfolios over $100 million, it’s necessary to register with the U.S. Securities and Exchange Commission. You must pass the Series 66 exam, as well as the Series 6 or 7 exam to become a Registered Investment Advisor. Alternatively, you may choose to take the series 65 exam.

Working for a bank is generally the best way to break into the field of becoming a financial advisor. Most banks are extremely supportive of their employees in finance, will offer training and help to establish a clientele.

Marketing and the Career Leader

Your success as a financial planner depends greatly on how well you can market your services. If you have good people skills along with a solid background in math, budgeting and business management, you have the necessary basis to begin your career. Most financial advisors begin their own companies, working personally with a small clientele. It is a job that requires a willingness to start from the ground up, to be able to take no for an answer and determination to persevere. With the baby boomers reaching retirement years, it is also a job that is coming more into demand.

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Ranked among the Best Online Bachelor’s Programs by U.S. News and World Report in 2015.
  • Ranked among the Best Online MBA Programs by U.S. News and World Report in 2015.
  • Founded in 1890, it has a campus in Waterbury, CT and offers online degree program in eight-week modules, six times a year.
  • About 800 students are enrolled at the main campus, and about half of them commute.
  • Online courses make it possible for students to earn a bachelor’s degree in as little as 18 months and a master’s degree in 14-24 months.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
  • Online Courses
5 Program(s) Found
  • Earn your Bachelor of Business Administration (BBA) 100% online
  • Learn business and leadership skills through case studies and intensive projects, culminating in a capstone course
  • Program designed to teach students key concepts in accounting, financial services, and marketing
  • South University brings over 115 years of achievement and tradition to a supportive, online classroom
  • We're now Non-Profit.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Wharton's three-month online program — Business Analytics: From Data to Insights — arms managers and leaders with the tools needed to break away from the pack.
  • Take the opportunity to turn data into a competitive advantage.
  • Online Courses
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Ranked among the Best Online Bachelor’s Programs by U.S. News and World Report in 2015.
  • Ranked among the Best Online MBA Programs by U.S. News and World Report in 2015.
  • Founded in 1890, it has a campus in Waterbury, CT and offers online degree program in eight-week modules, six times a year.
  • About 800 students are enrolled at the main campus, and about half of them commute.
  • Online courses make it possible for students to earn a bachelor’s degree in as little as 18 months and a master’s degree in 14-24 months.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
  • Online Courses
2 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Online Bachelor's programs include BBA, Criminal Justice, Psychology, IT, Healthcare Management & Public Health
  • Over 115 years of delivering quality education and personalized attention to students
  • Provide a range of campus experiences and services online including advising, tutoring, student community, and career services
  • Give students and alumni access to career assistants who help with resumes, cover letters, job hunting, and more.
  • We're now Non-Profit.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits

Login to your account

Can't remember your Password ?

Register for this site!