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Starting A Career As A Financial Advisor

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A Financial Advisor is a professional who provides financial assistance to clients according to their financial adaptability. In many countries, financial advisors must complete certain training and be registered with recognized bodies to provide financial advice.

A Financial Advisor assists you to create strategies to remove financial risk and help you build wealth in the long term. Financial advisors can give you plans that keep you on track to achieve your financial goals. 

Financial advisors do not come in an all-purpose package. They get different certifications and degrees. Financial advisors come from diverse backgrounds and offer a large range of services.

Financial advisors can do much more than just explain confusing financial technical language and help you pick mutual funds. Simply put, financial advisors help you with every kind of financial budgeting.

Financial Advisor


The term “financial advisor” is an umbrella that covers different aspects of financial professionals. Here are some of the different types of financial advisors you might come across:

  • Financial Planners
  • Wealth Manager
  • Investment Professionals
  • Tax Professionals

Skills Required To Become A Financial Advisor

The following are some of the skills required to become a Financial Advisor

  • Ability to explain complex information simply and clearly
  • Research and analytical skills
  • Excellent communication, interpersonal, and listening skill
  • The ability to network and relate with clients
  • Time management
  • Negotiation and influencing skill
  • Ability to work with a team
  • Target driven mindset
  • Customer service skill
  • Decision-making skill

Financial Advisor

Qualifications Required To Be A Financial Advisor

To pursue a career as a financial advisor, you must have at least a bachelor’s degree in finance, marketing, business, or any related field from a recognized educational institution. A master’s in business administration (MBA) degree is not essential. However, it can be an added advantage on the resume of a financial advisor.

Financial advisors are required to pass a General Securities Representative License, otherwise called Series 7 license. Series 7 test covers all the basic investment regulations and knowledge that a financial advisor must know.

Financial advisors are also required to pass the Uniform Securities Agent State License also called series 63 license. Series 63 license allows financial advisors to cover multiple states.

Financial advisors who wish to charge advisory fees are required to pass the Uniform Investment Advisor Law exam, otherwise called the series 65 exams. 

These licenses are the most basic and important licenses required to become a financial advisor.

There are many other licenses financial advisors can acquire that can help you sell additional products. These licenses include:

  • State life, health, and variable insurance license
  • National future association license (series 31)
  • National Commodities futures license (series 3)

Financial advisors can future establish their reliability by getting a certification. Certifications are not required but they are encouraged. The most popular of such certifications is the Certified Financial Planner (CFP). This certificate is issued by the Certified Financial Board Of Standards Inc. The board tests financial advisors on their ability to have an extensive approach to financial planning.

There are many other certifications available to financial advisors. They include:


Job Description Of A Financial Advisor

Every type of financial advisor is uniquely qualified to help you reach your financial goals. Some of the duties a financial advisor can help you with are:

  • Retirement Planning

Financial planners help you to achieve your retirement goal. Retirement goals could include building a business, going on vacations, and visiting your grandchildren. Whatever your goals are, a financial advisor has to help you achieve them. Financial advisors help you create wealth through your source of income while helping you save for your retirement plan.

Financial investors can help you estimate your financial needs and strategize ways to stretch your retirement savings.

  • Investments

An investment professional will not only help you invest your money and build wealth but also protect it from any form of risk for the long term. Investment professionals can help you figure out what mutual funds are right for you and show you how to manage and make the most of your investment.

Investment professionals can also help you understand and manage the risks and what you will need to do to achieve your financial target.

An experienced investment professional can also help you stay on the white-knuckle of investing when it dives. Financial advisors know that when mutual funds come down, they are likely to go up. They will always remind you to look at your investments with a long lens.

  • Tax Planning

Dealing with tax can be overwhelming especially as you grow your wealth and get closer to your dream retirement plan. A tax professional can explain simply how tax can impact your finances.

The goal is to maximize your tax load while providing the best possible returns. A financial advisor will help you understand that you should never make investment decisions based solely on tax.

Financial Advisor

  • Health and Long-Term Care Planning

People spend a lot of money on healthcare during retirement. A financial advisor can explain your options for long-term health insurance. You will be able to choose a health care plan that is affordable both now and in the future when you will need it the most.

Careers Related To Financial Advisors

Financial advisors are not limited to financial advising only. They can also function in other career paths. These careers include:

  • Financial Manager
  • Financial Analyst
  • Budget Analyst
  • Insurance Sales Agent
  • Insurance Underwriters
  • Securities, Commodities, and Financial Service Sales Agent
  • Real Estate Brokers



If you have any queries regarding degree options and career paths in Financial Advising, please click here to chat with our counsellors. 



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