How To Become a Personal Financial Advisor

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How Long Does It Take, What Degree Do You Need, and More

Personal Financial Advisors

Personal Financial Advisors advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients.

Salary
$122490
Becoming One
Hard
Education
Bachelor's degree
Job Satisfaction
Job Growth

Personality
Interest Match



What degree do you need

Recommended degree level

Bachelor’s Degree

We did a survey to ask other Personal Financial Advisors what degree they had when they became a Personal Financial Advisor. Here are the results.
Bachelor’s Degree
57.14%


Post-Baccalaureate Certificate
21.43%


First Professional Degree
10.71%


One of the most common questions that we always get is what major or degree do I need to become Personal Financial Advisors or what courses do I need to take.

We also asked Personal Financial Advisors what did they major in college or university and here are the top 5 most popular majors that came up.

Finance
Financial Planning and Services

Personal financial advisors typically need a bachelor’s degree. Although employers usually do not require a specific field of study for personal financial advisors, a degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. A master’s degree and certification can improve chances for advancement in the occupation.



Featured Schools

How hard is it

Difficulty
Hard

You will need a considerable amount of work-related skill, knowledge or experience to be a Personal Financial Advisor. For example, an accountant must complete 4 years of college and work for several years in accounting to be considered qualified.

Careers in this difficulty category will usually need several years of work-related experience, on-the-job training, and/or vocational training. These careers usually involve coordinating, supervising, managing, or training others. Similar careers include sales managers, database administrators, chemists, and art directors.


Related work experience required
2 to 4 years

2 to 4 years
53.57%


4 to 6 years
28.57%


1 to 2 years
17.86%


Job training
1 to 2 years

1 to 2 years
25%


2 to 4 years
25%


6 months to 1 year
14.29%



License and certifications

Do you need any license or certification
Requirements vary by job tasks

Personal financial advisors who directly buy or sell stocks, bonds, insurance policies, or specific investment advice need a combination of licenses that varies based on the products they sell. In addition to those licenses, smaller firms that manage clients’ investments must be registered with state regulators, and larger firms must be registered with the Securities and Exchange Commission. Personal financial advisors who choose to sell insurance need licenses issued by state boards. State licensing board information and requirements for registered investment advisors are available from the North American Securities Administrators Association. Certifications can enhance a personal financial advisor’s reputation and can help bring in new clients. The Certified Financial Planner Board of Standards offers the Certified Financial Planner (CFP) certification. For this certification, advisors must have a bachelor’s degree, at least 3 years of relevant work experience, pass an exam, and agree to adhere to a code of ethics. The exam covers the financial planning process, insurance and risk management, employee benefits planning, taxes and retirement planning, investment and real estate planning, debt management, planning liability, emergency fund reserves, and statistical modeling.


Skills required

We asked other Personal Financial Advisors if they could only have 5 skills, what would they be. Here is what they said.

1. Reading Comprehension what does this mean
2. Active Listening what does this mean
3. Speaking what does this mean
4. Critical Thinking what does this mean
5. Judgement and Decision Making what does this mean

= Hot in-demand that most employers are looking for


Knowledge required

Just like any other job, you will need certain know-hows to excel at your job. Personal Financial Advisors are generally very knowledgeable in these 5 key areas.

1. Customer and Personal Service what does this mean
2. Economics and Accounting what does this mean
3. English Language what does this mean
4. Sales and Marketing what does this mean
5. Administration and Management what does this mean


Learn more about Personal Financial Advisors

Summary
Job Description
Salary
Requirements (You are here)
Quiz

Find a college with the major you want


Related to Personal Financial Advisors Requirements

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