How Do I Become A Financial Advisor?

When you are a financial advisor, you play an important role in helping people organize their finances. As a financial advisor, you have the task of researching all of the tools that are available for assisting you in helping people to avoid estate and gift taxes. You may also be charged with the task of choosing the best investment options for a particular set of clients. A client may want to invest in a stock or mutual fund, and it is your job to discuss the risks that are associated with that investment. Maybe you have wondered, “What’s it like to be a financial advisor?” When you want to become a financial advisor, it is important for you to gain a thorough understanding of all of the estate planning tools that are available for your use.

What’s it like to be a financial advisor?

One of the major benefits of being a financial advisor is meeting with clients and helping them to ascertain their financial goals. Your role as a financial advisor is to help clients discern their goals and put them into action. You may even need to discuss the types of values that clients have in order to help them figure out their goals. After you have this discussion with a client, then you can begin the process of helping the client to plan out his or her estate. You will be able to help the client understand the differences amongst all of the estate planning tools that are available for use. The typical financial advisor works about 40 hours a week. He or she is also responsible for setting up meetings with clients during the week.

Education Requirements

To become a financial advisor, it is recommended that you obtain a degree in business or finance. Having this background will also help you to build trust with your clients. There are some financial advisors who are able to break into the field without this type of degree. You should also research state requirements to see whether you need to take any sort of exam in order to become a financial advisor. You may need to take an exam that focuses upon the stock market. You may want to take a seminar that focuses upon trading in the stock market. This can help you pick out a hedge fund or mutual fund for the portfolio of your clients.

Salary & How to Get a Job

According to the Bureau of Labor and Statistics, the starting salary for financial advisors is about $65,000 a year. If you want to become a financial advisor, it is important for you to network with other established financial advisors in the field. This will be your best shot at getting in with big investment firms in large cities like New York City, Chicago and Miami. Otherwise, you may want to look for open positions at local banks and investment firms online. There are many types of ways to break into this field. You may want to be a general financial planner that assists elderly people with their retirement funds. You can also be a financial advisor that helps people invest in stocks and exclusive hedge funds. You may also work for a major bank and provide financial planning services in that capacity too.