If you are interested in the world of economics or finance, you might want to consider taking a financial advisor career as your job. It is a great opportunity to be exposed to the wonderful world of finance. There is definitely something fulfilling and satisfying about knowing how to manage your money wisely and to help others do the same.
You should be warned, though. Pursuing a financial advisor career is no easy feat. There are so many hoops and requirements that you need to undertake first before you officially become one. Your path may be straightforward or you can repetitively go back to school in order to earn new certifications that generally boost your portfolio. Read this guide on whether or not this career is worth pursuing. This article also discusses what exactly being a financial advisor entails as well as a brief overview of how to become one.
From the name itself, you might have a gist of what the job entails. You advise individuals or corporations on how they can best manage their money. You are the one who will redirect their decisions into smarter ones so that they will experience the least amount of risks and the highest returns. The first thing financial advisors do is to assess the monetary status of their clients. Steps can be undertaken after that.
There are financial advisors that are general advisors. There are also highly skilled ones with their specific fields of expertise. You can study to specialize in taxation or retirement economics. Your clientele will also be based on those specific standards.
You can become a solo financial advisor and advertise yourself as such. If you are going to proceed with your solo venture, you need to be familiar with how to sell yourself to the masses so that they will trust you and your capabilities. You can also start as a part of a firm. Spend your next years working your way up the corporate ladder.
Salary Of Advisors
How much you will earn in this career. There is a statistic released by the United States Bureau of Labor Statistics that states that the hourly rate of a financial advisor’s amount to fifty-one dollars and ninety-seven cents. That adds up to a hundred and eight thousand and ninety dollars per year. It is definitely a career that pays handsomely especially if you play your cards right and succeed in your field. Take note that there are varying rates across different countries. Perform more research to know the average annual wage in your area.
Another great thing about this career is that it looks like it has nowhere else to go but up. Another statistic released by the Bureau of Labor Statistics say that the world is looking at a twenty-seven percent increase by the year 2022. That means more job availabilities and more clients to snag. A financial advisor is definitely necessary for this time and age wherein you can no longer make hasty choices regarding your money.