How to Become a Financial Advisor in 5 Steps

Are you looking to turn your knack for numbers into a lucrative career? A career that also happens to help people build their own wealth? It sounds like you want to be a financial advisor.

Whether you’ve just finished school or want to change courses, learning how to become a financial advisor prepares you for a rewarding career.

But how do you go from thinking about a career in finance to providing advice so that people achieve their financial goals?

First, we take a look at what your credentials in finance can do for future clients.

What Does a Financial Advisor Do?

Financial advisors, essentially, guide clients toward meeting their financial goals. These goals could be saving up for a retirement, growing an investment portfolio, or coming up with an estate plan.

As a financial advisor, you’ll do more than offer investment advice. Some of the expertise you can provide may include the following.

• Debt management
• Tax planning
• Healthcare and insurance assistance
• College savings preparation
• Financial monitoring

You’ll work with clients to get a full picture of their assets and understand their financial goals. What are their income sources? What long-term financial obligations are they meeting? What are their short- and long-term financial goals?

Most clients will also seek the guidance of accountants and lawyers. As a financial expert, you’ll need to work with other professionals to help your clients.

5 Steps to Becoming a Financial Advisor

Once you have full understanding of the scope of your profession, follow a plan that will advance you toward that career goal.

Here are five steps to consider.

1. Complete your education.

What degree do you need to be a financial advisor?

A bachelor’s degree is a minimum requirement. Companies that are hiring financial advisors will look for candidates who have completed degrees in finance, economics, accounting, or business management.

But some businesses may not require a university degree, as long as you’ve studied finance-related courses and passed specific exams.

A financial advisor degree is not compulsory, but you’ll need a finance-focused education. Once you’ve completed your bachelor’s degree, solidify your professional standing by pursuing further training.

If you’ve completed high school and want to get started on your journey as a financial advisor, we suggest our Jumpstart program. 

Our program paves the way for you to achieve financial planning or accountancy as a career early on. We not only give you the tools to succeed with relevant exams (from financial accounting to management accounting), but we also incorporate exciting social events to bring a balance to your life as a student.

2. Apply for an internship.

Whether you’re studying finance or business management, seek an internship with the right company. The right environment gives you a full picture of what financial advisors do day in and day out.

You could apply for an internship in an accounting firm, a wealth management enterprise, or an investment banking company.

An internship also paves your financial advisor career path because you get access to the right people. Networking opportunities provide invaluable mentorship or job prospects later on in your career.

When you sign up for our classroom and online financial training, you’ll benefit from our recruitment arm. We help you find suitable internship opportunities in the best companies.

We work with three of the Big 4, which are the biggest accounting firms in the world!

3. Find an entry-level position.

An entry-level position provides you with further training. Further training allows you to develop more skills and acquire relevant knowledge. 

When you start with an entry-level role, you’re able to determine what type of financial advisor you want to become. A financial advisor can be a wealth manager, investment advisor, personal banker, financial coach, or certified financial planner.

Entry-level work also gives you time to study for professional qualifications, which are essential to becoming a certified financial advisor.

4. Pursue professional certifications.

Some of the common certifications that financial advisors pursue are the Association of Chartered Certified Accountants (ACCA) and Chartered Financial Analysts (CFA).

Obtaining these globally recognized certifications broadens financial advisor career opportunities. They boost your credentials, helping you land plum positions and command higher salaries.

With Phoenix Financial Training’s ACCA certification course and CFA course, you’ll have access to professionally recorded online courses, customized study notes, and Phoenix Financial Training lecturers and tutors.

Students who are in our classroom courses and are unsuccessful with their exams also receive a lifetime pass guarantee. Under certain conditions, you can retake our courses for free.

5. Improve essential skills.

Finally, continual improvement is essential for professionals in the finance industry. When you pursue further education, you demonstrate your commitment to delivering the best advice and guidance for your clients.

Sign up for courses that count toward licenses. Stay up to date with financial developments. Hone your skills to enhance your technical competence.

How to Be a Successful Financial Advisor

Phoenix Financial Training puts you — the student — first. Through exam-focused training materials, student-focused support teams, and experienced full-time tutors who are experts in their field, our financial training courses give you the tools to succeed.

Take the first step toward your career as a financial advisor. Contact us for inquiries today.