Are you thinking of taking up a career in the finance field? Read below to find out how to become a financial advisor. There are many benefits to becoming one. You get to familiarize yourself with the intricate world of finance and help others out in navigating it. There is also an estimated two-point-five percent financial growth every year and there is an endless list of clientele, from individuals looking to invest up to large corporations seeking financial guidance.
Earn A Degree
You can’t just use any college degree for this job. You need a degree that specializes in finance, business, statistics, economics, or other similar fields. There are general financial advisors that encompass the entire field as a whole. Other career paths deal with more specific topics like retirements, estate, insurance, and tax. If you wish to snag the major clients or high-profile investors, you can continue your studies to boost your portfolio. Consider pursuing an MBA program that you can simply take while you are practicing your career.
There are endless benefits to interning. Not everything you need to know can be taught within the four walls of a classroom. Other gems of knowledge come from being exposed to the real world and practicing the craft first-hand. Explore the connections that your school has with notable financial firms and sign up to be an intern while you are a student. This will teach you real-life experiences and it may even come in handy later on when you are looking for a job. Make sure to forge good relationships with notable mentors as they can provide very valuable insights in the field.
Certifications And Licenses
Certifications and licenses further prove your credibility as a financial advisor. You can attain a certification after clocking in three years’ worth of studying, training, and experience. Certifications are approved after specialized training and passing an exam. Some of the certifications include Certified Financial Planner or CFP, Personal Financial Specialist or PFS, Chartered Financial Analyst or CFA, and Chartered Financial Consultant or CFC. Even more specific fields of work require more certification. Research your desired field thoroughly and comply with the certification requirements set for that.
Now it is time to apply your skills to that test. Find a good entry-level job. Everyone has to start from somewhere and you cannot expect yourself to earn the big bucks without working your way to the top of the corporate ladder. Find a good corporation you can apply for and then set up an interview. There are some things that you can use to your advantage in order to increase your chances of getting in. You can network with your colleagues and ask for reasonable favors. You can also ask for letters of recommendation from your university or from esteemed professors. Try utilizing the power of the internet to your advantage. Post your resumes on job listings online, even on social media.