Are you looking into financial careers?
The average salary of a financial advisor is almost $88,000. Becoming a financial advisor is a solid career choice since more people need guidance. After all, everyone is more aware of their budget.
If you are confused about where to start, our guide can help. Read on as we discuss the steps on how to become a financial advisor today:
What Is A Financial Advisor?
A financial advisor helps clients make better, more informed financial decisions. It applies to everything, from starting investments to retirement or estate planning.
These professionals work in various settings. However, they are more common in financial enterprises like banks. However, independent, self-employed financial advisors are becoming more popular.
How To Become A Financial Advisor
A college degree is not a strict requirement for becoming an advisor. However, your career will most likely start while working with a firm. The majority of these firms are unlikely to hire you without getting a relevant degree.
Here are the steps on the traditional path of becoming a financial advisor:
Get Your Bachelor’s Degree
The good news is you need not pick a single specific degree to become an advisor. Choose any of the following majors since they are relevant to your career:
- Accounting
- Business
- Economics
- Finance
- Mathematics
Aside from your major, consider taking elective classes. It allows you to get as much relevant knowledge as possible. Retain what you learn instead of breezing through since it is what matters more in the job.
Become An Intern
It is hard to get a job without garnering some experience. As your bachelor’s degree studies end, apply for an internship. It enables you to use everything you learned while getting proper guidance.
Look for internships willing to let you continue learning. Most are for free, but you will gain valuable mentorship and insight.
Get A Certification
After spending years learning, you now need to get a certification. Depending on your desired services, your license requirements will vary. Most require an examination after more coursework.
Continue learning as your career progresses. Otherwise, you risk losing your certification in the future.
The Financial Industry Regulatory Authority gives out licenses. When taking FINRA exams, expect multiple-choice questions. The exam can range from 75 minutes to almost three hours.
Aside from FINRA licenses, you might also need state certifications.
Find An Entry-Level Job
Your first job should teach you the necessary skills to grow your career. It means building your network and becoming an expert in cold calls. Your best bet is to land a job at a successful broker firm.
Check out this guide to find the top markets for financial advisors.
Become The Best Financial Advisor Soon
These are some steps to learn how to become a financial advisor. Use these steps to guide your journey toward becoming a successful advisor.
However, learning the steps is only the beginning. Learn the best universities to complete your education.
Are you looking for more guides? Consider exploring our other posts today.
