Step 1:
To begin with, you must love connecting with people because being a financial advisor is about developing relationships. It requires high-quality communication, interpersonal skills and talent to convince the person to follow the course you recommend.
Step 2:
Enter a bachelor degree program at an accredited college/university and choose a finance-related major such as business administration, accounting, etc. Be a good student with a 3.1 or higher GPA and make sure you understand all about financial analysis, corporate budgeting techniques, accounting policies and practices.
Step 3:
Work at a financial company or bank. As a fresh graduate, with no experience working with clients, it seems rather difficult to start as an independent financial advisor. You should work at financial company or bank that offers a full training program, higher salary, and supplemental fees and commissions. Your fees and commissions will increase as your client list increases. The company or bank usually supports when you take your further study (such as professional exams or a MBA degree in personal finance or economics). Financial advisors collect information by asking the right questions from clients (for example, what is your goal? How do you feel about...?). Then offer analysis and advice/recommendations so the clients can make the choices.
Remember: Good service will get you more clients. Take care of your clients' needs and keep in touch with them.
Step 4:
Become an independent financial advisor. After working as an experienced financial advisor in the company or bank, if you wish, you can start as an independent financial advisor. Then you have the freedom to choose the best financial products and services to suit your clients' specific needs. However, you should join an independent marketing organization so you can exchange ideas with other financial advisors to improve your skills, knowledge and career. Start up your business with a low cost (under $500). If it becomes profitable, you can expand it and if it doesn't, you do not lose too much money. To advertise your service, build a trusted referral network with the qualified professionals in finance-related subjects such as tax, insurance, mortgage, estate, etc., and then your clients will trust you more. You may have to apply for a license as a Certified Financial Advisor to improve your knowledge and professional standing, especially in mutual funds, stocks, and bonds that are required in retirement and estate planning.
How To Start A Career As A Financial Advisor
