To become a financial advisor, there are several pathways and key steps to follow:
Education and Qualifications
- Most financial advisors start by earning a bachelor's degree in any discipline, though subjects like finance, accounting, or business management may give an edge.
- You need a Level 4 qualification in financial advice recognized by regulatory authorities (e.g., Financial Conduct Authority in the UK) or take comparable certifications in your country to work as a financial advisor.
- Optional but beneficial certifications include Certified Financial Planner (CFP) designation, which requires coursework, passing an exam, relevant experience, and ethics compliance.
Licensing and Exams
- Financial advisors often need to pass specific licensing exams depending on the services they provide; common exams in the US include the Securities Industry Essentials (SIE) exam, Series 7, and Series 66 licenses.
- Some programs or firms offer training and pay for licensing as part of onboarding new financial advisors.
Practical Experience and Career Start
- Getting entry-level jobs in financial services (e.g., financial services administrator) or apprenticeships can provide practical experience on the path to becoming a financial advisor.
- Some complete apprenticeships or training contracts while earning qualifications to meet regulatory requirements.
Summary Steps
- Earn a bachelor's degree (or equivalent qualifications).
- Obtain required financial advice qualifications or certifications.
- Pass any required licensing exams (SIE, Series 7/66, CFP exam).
- Gain relevant work experience via entry positions, internships, apprenticeships, or training programs.
- Launch career with licenses and build client relationships.
Becoming a financial advisor involves a mix of education, licensing, and practical experience, with opportunities to enter via university degrees, apprenticeships, or direct career starts with licensing support.
