How to become a Financial Advisor
A financial advisor works with clients and businesses to help them manage their money. They help their clients make financial decisions that are comfortable for them, while achieving their long term saving goals.
Financial advising is the field of work that helps people make better financial decisions, whatever their goals are; for example, someone’s plan might be to upgrade their house and to save for retirement, but they may require some help to save enough money to get there. Financial advisors can work with people and small businesses to advise on investments, budgeting, insurance, and taxes. Fundamentally, they help people have more money.
Being a financial advisor entails:
- Meeting with clients and discussing their financial goals, and giving them instant feedback on what they can do to start saving money that day.
- Educating clients about investments, saving, and managing money.
- Working out tailor-made long term financial plans for clients.
- Keeping up to date with investment opportunities and constantly evaluating what is on offer on the market.
- Maintaining a form of contact with clients, staying updated with their progress and altering suggestions as time goes by.
Some financial advisors choose to specialise in certain areas – like retirement, risk management or wealth management. There’s also the option to offer online services or in-person services, or even provide the information needed for a robo-advisor – these are online algorithms that provide financial advice, which do not need a financial advisor for each transaction but do require one to oversee the advice and suggest improvements.
About a quarter of financial advisors are self-employed. While they do have a certain degree of flexibility with their work and can earn a lot, it can be a stressful role with a great deal of pressure, as they must constantly make sure they have enough clients – and working hours are typically very long.
It is possible to get into this field without tertiary education, but being a graduate in economics or another related subject will be greatly beneficial. A financial advisor is expected, of course, to have impeccable knowledge of investments, taxes and budgeting – so some extra courses and accreditations are essential for any candidate for the job. Work experience in a financial environment is also beneficial.
As well as an outstanding knowledge of managing money, a financial advisor must be approachable, have great communication skills and a trustworthy persona.
What degree is most commonly held by a Financial Advisor?
- Bachelor of Accounting / Finance
- Bachelor's of Business / Commerce / Economics
- Diploma in Financial Planning
- MBA Finance
Career Transportability across Countries
What is the Salary of a Financial Advisor?
|Experience||Average salary | year|
|Client Services Manager||$46,000||£38,411||$70,000|
|Financial Adviser||1-4 Years||$65,000||£54,873||$100,000|
|Asset Manager||5+ years||$90,000||£76,823||$140,000|
What skills are needed to become a Financial Advisor?
- Financial Services
- Portfolio Management
- Financial Analysis
- Financial Planning
- Retirement Planning
- Risk Management
- Wealth Management
- Financial Advisory
- Microsoft Excel
- Strategic Financial Planning
- Customer Service
- Business Strategy
- Microsoft Office
- Strategic Planning
- Investment Strategies
- Business Development
- Investment Advisory
Financial Advisor Courses
Understanding Public Financial Management: How Is Your Money Spent?
How do governments acquire and spend public money Take a fresh look at public financial management with this free online course
Introduction to Financial Accounting
Refresh your knowledge of basic accounting processes and discover recent changes in International Financial Reporting Standards
Understanding Financial Statements
Learn how to make better business decisions with financial information
An Introduction to Financial Management in Construction
Explore financial management and accounting conventions and their importance in the construction industry and other sectors
Understanding Financial Concepts
Prepare for a wide range of roles in the finance industry with an introduction to fundamental financial concepts
Finance Fundamentals: Investment Theory and Practice
Look at the investment choices open to you and the risks and returns of each Start managing your financial future effectively
Finance Fundamentals: Financial Services after the Banking Crisis
Explore the UK financial services landscape how financial firms and products are regulated and how consumers are protected
Finance Fundamentals: Financial Planning and Budgeting
With household budgets feeling the pinch this course shows how to bring order to your finances and make good financial decisions
Finance Fundamentals: Managing the Household Balance Sheet
Discover how to effectively manage household assets and liabilities in order to improve your household financial health
Financial Advisor Microcredentials
Financial Analysis and Decision Making with Xero and Tableau
Get professional training in financial analysis and learn how to translate financial data insights into deliverable actions
FinTech - Financial Innovation
Investigate the changes brought about by FinTech innovation and harness evolving opportunities in the future of FinTech
Need even more evidence about why you should learn on FutureLearn?
Understanding Financial ConceptsPrepare for a wide range of roles in the finance industry with an introduction to fundamental financial concepts.Show course overview
Finance Fundamentals: Investment Theory and PracticeLook at the investment choices open to you, and the risks and returns of each. Start managing your financial future effectivelyShow course overview
Finance Fundamentals: Financial Services after the Banking CrisisExplore the UK financial services landscape, how financial firms and products are regulated, and how consumers are protected.Show course overview
Finance Fundamentals: Financial Planning and BudgetingWith household budgets feeling the pinch this course shows how to bring order to your finances and make good financial decisions.Show course overview
Finance Fundamentals: Managing the Household Balance SheetDiscover how to effectively manage household assets and liabilities in order to improve your household financial health.Show course overview