How to Become a Financial Advisor

While apps make it that much easier to create your own budget or track spending, that isn’t enough to get control over your finances. And many people need professional assistance when planning for the future, whether they’re going to pay off debt, save for their child’s college or save for retirement.

This is why the growing number of financial apps don’t eliminate the need for financial advisors.

The average financial advisor salary is $87,850 in 2021, making it one of the safest and most lucrative jobs around.

Your goal is to help you clients create financial plans and make smart decisions with their money.

Here’s an overview on how to become a financial advisor.


Determine Your Niche


The education and expertise you need to help people pay off or settle their debts is very different from the knowledge required to give qualified advice to those planning their retirement.

If you’re going to give advice about which investments to purchase or steps to take to minimize one’s tax bill, you may have to earn specific credentials to legally provide such advice. It will also affect your branding and could influence your business name.

After all, few people will trust Judy’s Debt Relief for retirement planning advice. Determine what customer base you’re going to serve, because this affects everything else you need to do.


Complete Your Education

A financial advisor needs at least a bachelor’s degree in a relevant field in order to say they’re a qualified financial advisor.

In general, a degree in finance or accounting is sufficient, while a master’s degree helps you stand out in a crowded field.

The grey area is what certifications and credentials you may need beyond that. For example, you may need to pass an exam and get licensed to sell insurance products or call yourself a CPA.

Do your research before you invest time and money into a certification program. Know what credentials are attractive to potential clients, and only earn the certifications that will help you prove your expertise to them.

Understand the commitment you’re making to continuing education before you earn an industry certification. You can’t afford to run the risk of losing your license while serving clients and potentially getting in trouble for it.

Order Your Business Cards

If you’re ready to begin networking, invest in some custom business cards. These should be high-quality business cards. Think heavy weight paper, a professional finish and little details that show you’ve put thought into the design.

No one is going to trust a financial advisor who hands out cheap business cards that could fall apart in your hand, just as they are reluctant to trust someone who puts out handwritten signs saying, “Call this number to learn how to flip houses / become rich”.


Create Your Digital Portfolio

A financial advisor should have a professional social media profile on every major platform.

Furthermore, they should share the same branding, spelling of your name, and color palette. Include links to your new business website on every social media profile. This should match the email address and website URL on your business card.

Have the social media pages and website up and running before you begin handing out business cards, since many people’s background check of you starts with an internet search of your personal name or business name.


Join 200+ Investors Getting The Investor Trip Weekday Newsletter

Editorial Staff

Tarik Pierce is the founder of InvestorTrip.com and regularly contributes articles to this website. He studied Economics at Dartmouth College and invests in a mix of dividend stocks, high CAGR tech stocks & cryptocurrencies.