Best Tips for Becoming a Financial Advisor

If you're interested in becoming a financial advisor, you'll want to make sure you are going to stand out from the competition. With the financial markets being so volatile these days, you're going to have to work extra hard to prove you have the wisdom to guide people through economic ups and downs. While anyone can hang out a shingle and claim to be a financial advisor, you'll want to undergo specific financial advisor training to prepare you for the job.

If you wish to be a personal financial advisor, you will be best received if you have a college degree in one of the following fields: accounting, finance, economics or business. However, you will want to secure certifications in addition to a bachelor's degree; specifically the Certified Financial Planner (CFP) certification and the state-required licensure for the sales of insurance. Because the CFP certification requires three years of experience, you will want to find a financial planning company to start, even if you plan on eventually working independently. You'll need the training, resources and guidance of experienced financial planners as you get your feet wet.

Many of the challenges involved in being a financial advisor go beyond understanding how investments work and how to advise people on debt management. There are some very important small business skills you will have to master in order for you to be a successful financial advisor. You will need to build up a client base, and this will require some sort of lead generation skills and the ability to sell both your services and your financial products. It is advisable that you learn from veterans in the field as to how to put on seminars or luncheons aimed at educating potential clients about your services. You may want to join your local Toast Masters group for practice with public speaking and may wish to take classes on sales and marketing so you can learn how to grow your client base. 

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